01 Dec '15, 12pm

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If you plan on settling down in Singapore, you may prefer buying your home to renting it. However, if you are interested in buying property in Singapore, you have to keep several things in mind. Our expatriate guide provides you with an overview of the purchase process, costs, taxes, and more. Legal Framework First of all, you should check if you are permitted to purchase the property that has caught your eye. There are certain restrictions on foreigners buying property in Singapore. The Residential Property Act of 1973 regulates foreign ownership of land and housing. It applies to everyone who is not a citizen of Singapore, i.e. temporary and permanent residents alike. The act classifies the following sorts of property as restricted: vacant land intended for residential use landed property (e.g. bungalows) property in housing developments that are not officially classifie...

Full article: http://realestate.remmont.com/real_estate/buying_property...

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