Looking to move to Singapore or buy a property in Singapore? This is a must-read for you! In Singapore, the type of property you are allowed to buy depends on your type of residency. Singaporeans can buy any type of property in Singapore, including both public and private housing.
For Singapore Permanent Residents (PRs), they have fewer housing options than Singaporeans but they enjoy more housing choices as compared to foreigners as non-residents are only limited to a few types of private housing. In this article, we will explore the types of housing that are available to PRs!
What Property Can PRs Buy In Singapore?
The three types of residential properties that PRs are allowed to purchase are HDB flats, Executive Condominiums (EC) and Private Condominium units. However, HDB flats and ECs are considered government housing and PRs have certain conditions to adhere to.
Can Singapore PRs Buy an HDB Flat?
If you are looking to buy a new HDB flat, such as a BTO, a single PR citizen is not able to buy such a property. The only way for a PR to legally buy a new HDB flat is if you are married to a Singapore Citizen. If you are already married to someone who is a Singapore citizen, you may acquire a BTO flat as a couple.
For two Singapore PRs, you are not allowed to buy the new subsidised HDB flats. However, you are allowed to buy a resale flat, if both of you have obtained the PR for at least a period of three years. Take note that a single PR is not able to purchase a resale HDB on their own.
Can Singapore PR Buy an Executive Condominium?
This depends on the situation. If you are a PR who wants to buy a new EC, then you need to marry a Singapore Citizen, plus the other conditions for buying a BTO flat. For resale EC, the conditions for buying are easier as you are allowed to buy one on your own.
Can Singapore PR Buy a Private Condo?
For Permanent Residents, it is much easier to purchase a Private Condo. A PR can buy a new launch or resale condo, as long as you can afford the high prices. Private residential properties are usually considered to be good investments, especially those which are found in prime locations and those that are close to MRT stations, shopping malls and other amenities.
Other than the above information, take note that there are also Stamp Duty taxes to be paid, so make sure to factor that in as well.
Being a Singapore PR allows greater access to housing options in Singapore. If you are looking to apply for a Singaporean Permanent Residency, be sure to speak to one of our professional consultants who are ready to advise you on the process. Do contact us today for more information!
