Singapore is one of Asia’s top financial hubs. Every year it attracts investors and professionals. For Indians looking to invest in real estate, buying property in Singapore can be an attractive option. However, there are specific rules, regulations, and financial considerations that must be carefully understood.
What Can Indians Buy?
Indians who are not Singapore Citizens, Permanent Residents (PRs), are considered foreigners under Singapore property law. This means restrictions apply when purchasing property.
According to Times Now, Indians interested in “landed homes” can buy them, but only in select areas such as Sentosa Cove and with special permission from the Singapore Land Authority (SLA). Approval is granted on a case-by-case basis.
Certain property types, like vacant residential land, terrace or semi-detached houses, detached bungalows, and strata-landed homes, require online approval from SLA’s Land Dealings Approval Unit. Non-PRs cannot purchase new HDB flats, and single PRs face restrictions when buying resale HDB flats.
Financial Considerations
Foreigners must pay Buyer’s Stamp Duty (BSD) and Additional Buyer’s Stamp Duty (ABSD), which varies based on ownership status. Some exemptions may apply if the foreigner is married to a Singaporean. Other costs include legal fees, administrative charges, and agent commissions, usually around 1% of the purchase price. Home loans can cover up to 75% of the property value, but a down payment in cash is required. PRs may use CPF savings combined with cash.
Steps to Buy Property in Singapore
-Get pre-qualified for a home loan.
-Explore private condos, executive condos, and resale HDB flats in convenient locations.
-A Singapore-based agent can guide you through paperwork.
-Obtain bank loans and HDB Flat Eligibility (HFE) letters if applicable.
-Make an offer, pay the option fee, secure financing, and complete the purchase.
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Shivam Verma is a journalist with over three years of experience in digital newsrooms. He currently works at NewsX, having previously worked for Firstpost and DNA India. A postgraduate diploma holder in Integrated Journalism from the Asian College of Journalism, Chennai, Shivam focuses on international affairs, diplomacy, defence, and politics. Beyond the newsroom, he is passionate about football—both playing and watching—and enjoys travelling to explore new places and cuisines.
