Many E pass and S pass holders in Singapore fall in love with the country after living here for a few years. And usually at that point in time, they may want something more concrete beyond renting a property forever, and want to purchase one instead. Most Singapore PR prefer buying a condo, but as there are restrictions on the types of local Singapore properties that citizens, permanent residents and foreigners are allowed to buy, some ask if a Singapore PR can buy a condo.
If you want the short answer, if you become a Singapore PR, that will enable you to purchase almost any type of condo property, except for one. Read below for more details. If you are not sure about how you can become a permanent resident in Singapore, you can PM this immigration consultant here.
First and foremost, there are various different types of condo in Singapore. There are executive condominiums, which are condos sold at a subsidized price by the government, and there are also private condominiums. There are also condos with differing types of leases with the purchase – 99 years, 999 years or freehold. We will discuss them all here.
When it comes to executive condo, a Singapore PR can only purchase one after it has TOP (complete construction and residents can move in) for at least 5 years. There will be no subsidized rates and a Singapore PR will be required to negotiate with the seller themselves.
When it comes to private condo, there are no restrictions on purchases for any one at all, permanent residents, foreigners, citizens. Anyone who has the cash to pay in full or qualify for a housing loan will be able to purchase a private condo.
All executive condo only come in 99 year leasehold purchases, similar to that of HDB flats, as they are essentially still considered half government related.
When it comes to private condo in Singapore, there are 99 years, 999 years and freehold condos. However, this status is not tied to any kind of citizenship status, and regardless of your PR status, you will be able to purchase private condo with any type of these kind of leases.
As you can tell from the above, a Singapore PR can buy condo in SG, and there are virtually no limitations on what you can buy. The only one you are restricted from buying as a non Singaporean citizen is an executive condo within 5 years of its TOP date. Unless you insist on looking for that, I am happy to share that you are free to buy!