Searching for Property in Singapore for Foreigners

Singapore has become one of the most ethnically diverse islands anywhere in the world. The multi-cultural state sits on the edge of the Malaysian Peninsula and is home to millions of expats from international companies. The island’s cultures include Asians from other countries, Buddhists, Hindus, and Muslims. Thousands of American and European expats live in Singapore.

 

Expat Communities

Most of the expats in Singapore have traditionally lived in the Central Business District of the city in the downtown area, and along Singapore’s East Coast. The district is where most foreign companies based their operations. However in recent years, most employers no longer pay for expat housing because it’s getting too expensive. Singapore has efficient Mass Rapid Transit, making the island’s communities easily accessible for commuters. Today, property in Singapore for foreigners is available all over the island.

 

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Central Business District is popular with many expats for the proximity to shopping and restaurant.

 

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Bukit Timah Road and Orchard Road is one of the most desirable districts for foreigners.

 

Singapore’s Different Districts

Singapore has 28 distinct districts. Many of the foreign schools are on the northern tip of the island, so a lot of foreign families with children search for housing in the northernmost districts. The Central Business District is still popular with many expats for the proximity to shopping and restaurants. Some of the most desirable districts for foreigners looking for property in Singapore are the areas between Bukit Timah Road and Orchard Road, the centrally located districts of 9, 10, and 11. The Central Business District has an array of upscale condos, and district 15, which is on Singapore’s East Coast, is highly sought after.

 

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Become resident of Singapore expats can enrol their children in local schools that have an outstanding reputation for quality education.

 

Residency in Singapore for Expats

Government authorization is required for foreigners who want to own property in Singapore. The law applies to stand-alone properties that are on acreage or have a yard. The process to buy free-standing property may take up to a year to complete. The advantage of becoming a resident of Singapore is that if you have children, you can enroll them in local schools that have an outstanding reputation for quality education.

An expat may apply to become a Singapore Permanent Resident if they want to stay in Singapore for a long period. Becoming an SPR is a good option for an expat who wants to live in the country for at least five years and may apply to:

• Professional and technical skilled workers
• Global investors
• Financial investors
• Arts and culture

 

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No restrictions for foreigners when buying condominium in Singapore.

 

Condo Options for Foreigners

Although there are strict requirements for foreigners who want to buy free-standing property in Singapore, no restrictions exist for buying a condo. If you’re in Singapore for a brief period, you may want to rent. However, if you’ll be on the island for a period longer than two or three years, buying a condo may be your best option. Traditionally, most expats lived in Bukit Timah, Orchard Road, or Tanglin. Sentosa Cove, one of the newer developed regions, has become popular.

Today, expats are searching for property in fewer expensive areas including Woodlands and Serangoon Gardens. Woodlands is popular with American expats because of the American School. The area is on the beach and has parks and jogging trails. Generally speaking, the further from Singapore’s Central Business Sistrict you are, the less you’ll pay to buy or lease a condo. The exception to the rule is what is referred to as “black and white” houses. The homes were built in Singapore’s Colonial era. The houses are highly sought after by British expats and are very expensive, no matter which district they’re in.

 

Why foreigners invest Real Estate in Singapore

Although massive high-rises dot the landscape, Singapore has more than 3,000 hectares of green space. The Singapore Botanic Gardens encompass 74 hectares. Singapore has hundreds of bars and restaurants, museums, markets, and shopping centres.