Buying Property in Singapore: A Guide for Foreigners

At a Glance

• Foreigners can freely purchase private condominiums but must pay a 60% Additional Buyer’s Stamp Duty (ABSD).
• HDB (public housing) is not available to foreigners; Permanent Residents (PRs) must wait 3 years after obtaining status.
• Sentosa Cove is the only exception where foreigners can purchase landed property.

When you first arrive in Singapore, the sky-high rental prices often lead to the same question: "Would it be better to just buy a home?" I remember scouring real estate sites myself, feeling like my rent was money down the drain. However, Singapore maintains very strict regulations regarding foreign property ownership.

With significant tax changes in recent years, jumping in without preparation could mean paying more than half the property's value in taxes alone. Here is a realistic look at the types of property available to foreigners and key considerations as of 2026.

Property Types Foreigners Can Buy Freely

The options for foreigners (non-PRs) to purchase property without special government approval are more limited than you might think. The most common choice is what we usually call a "condo."

• Private Condominiums: This is the most popular and accessible option for foreigners. These developments offer amenities like swimming pools and gyms, with no restrictions on foreign ownership shares.
• Fully Privatized ECs (Executive Condominiums): ECs are hybrid public-private housing originally reserved for PRs and citizens. However, once an EC reaches its 10-year mark, it becomes "fully privatized," allowing foreigners to buy them just like private condos.
• Commercial Property: Foreigners can freely purchase offices, retail shops, and industrial buildings. Since these are not residential, they are popular for investment as they do not attract the heavy Additional Buyer’s Stamp Duty (ABSD).
• Mixed-Use Developments: Residential units within buildings that combine commercial and residential spaces are also available for purchase, similar to condos.

Restricted Properties: Difficult Without PR Status

HDB flats and landed houses, which many people are curious about, have a very high barrier to entry for foreigners. This is because the Singapore government prioritizes housing stability for its own citizens.

• HDB (Public Housing): Non-PR foreigners cannot purchase HDB flats. Even after becoming a Permanent Resident (PR), you cannot buy one alone; you must have a family nucleus or be married to another PR, and you must wait 3 years after receiving your PR status before buying on the resale market.
• Landed Property: Houses that include the land—such as terrace houses, semi-detached houses, and bungalows—are generally off-limits to foreigners. To buy one, you must seek approval from the Singapore Land Authority (SLA). Approval is extremely rare and usually reserved for PRs of over five years who have made significant economic contributions.
• Sentosa Cove: This is the only exception! Foreigners can purchase landed property here through a relatively straightforward approval process. However, expect prices to start at a minimum of SGD 10,000,000.

2026 Property Taxes and Additional Costs

The biggest hurdle to buying property in Singapore is the tax. Specifically, the Additional Buyer’s Stamp Duty (ABSD) for foreigners is among the highest in the world.

For example, if a foreigner buys a condo for SGD 2,000,000, they must pay an additional SGD 1,200,000 (60%) in ABSD alone. It’s a situation where the tax could outweigh the investment. While citizens of the USA or nationals from certain FTA countries (like Switzerland or Norway) receive the same tax treatment as Singaporeans, South Korean nationals, unfortunately, do not currently fall under this exception.

Practical Tips for Preparation

If you’ve decided to buy a home in Singapore, financial preparation is more important than just viewing houses.

• Get an IPA (In-Principle Approval) First: Before you start house hunting, get an "In-Principle Approval" from a bank to see how much you can borrow. Foreigners can typically borrow up to 70–75% of the property value, but this depends on your income level and TDSR (Total Debt Servicing Ratio) regulations.
• Rent if You Plan to Stay Less Than 10 Years: Given the 60% tax, it takes a long time for property appreciation to offset the initial tax hit. For short-term stays, it may be more economical to invest that money elsewhere and continue renting.
• Hire a Specialized Lawyer: Real estate transactions in Singapore usually take 8 to 12 weeks, and a lawyer is involved in every step. It is safer to engage a reliable property lawyer before you even receive the Option to Purchase (OTP) document.

References

• Inland Revenue Authority of Singapore (IRAS)
• Singapore Land Authority (SLA)
• Housing & Development Board (HDB)
• Urban Redevelopment Authority (URA)

Exchange rate: 1 SGD ≈ 1,150 KRW (As of Feb 6, 2026)