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Expatriates may discover staying in a hotel room for the entire duration of their stay in Singapore to be a very costly predicament. If a foreign national possess a residential property in Singapore, the costly dilemma could have been averted.

Singapore authorities do not discourage foreigners from acquiring residential properties in the country.

The Residential Property Act of Singapore essentially assists Singapore citizens in their purchase of their own residential properties by providing affordable rates. Moreover, this act encourages foreigners who are recognized by the Singapore government to have made important contributions to the economy of the city-state in their desire to acquire residential properties within the country.

Non-restricted residential properties can be acquired by foreign nationals even without prior sanction from the Singapore government. The following are specific examples of non-restricted residential properties:

- apartment flats within a building that is not over six floors in height – condo units in authorized condominium development sites under the Planning Act – a lease agreement on a restricted property; the contract must not go beyond 7 years

An approval from Singapore’s Minister of Law is required of expatriates who desire to own all units in an apartment or condo in an accredited development property.

Likewise, a foreigner cannot purchase or own residential properties that are classed as restricted not unless he or she has been given an official sanction by Singapore’s Minister for Law to own any such residential property.

The following are considered restricted residential properties by the Residential Property Act of Singapore:

- an empty residential lot – town houses, separate or semi-detached homes, or terraced houses standing on residential lots – lands not authorised for condo development under the Planning Act

In applying for an official sanction to be able to own a restricted residential property, the expatriate must fill out a form and, along with the required supporting documents, send this to the Singapore Land Authority. The agency is responsible for assessing the foreign national’s eligibility to acquire a restricted residential property and for issuing the official sanction if it finds the expat’s qualifications satisfactory.

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