Singapore Land For Sale List

Residential Land: This includes land for building private residences, condominiums, and apartments. High demand in areas like Orchard Road, Bukit Timah, and the Central Business District makes residential land a lucrative investment.

Commercial Land: Ideal for business and retail developments, commercial land in Singapore is often centered in and around the Central Business District, Marina Bay, and regional centers like Jurong East and Tampines.

Industrial Land: Catering to Singapore’s robust manufacturing and logistics sectors, industrial land is typically located in specialized zones like Jurong Industrial Estate and Tuas.

Freehold: This type of tenure means you own the land indefinitely. Freehold properties are often more expensive due to their permanence and potential for long-term value appreciation.

Leasehold: Leasehold properties have a fixed term of typically 99 or 999 years. After the lease expires, usually ownership reverts to the state and some lands revert back to private landowners. Leasehold properties are usually more affordable but may depreciate in value as the lease term diminishes.

A steady increase in demand for residential and commercial land is fueled by economic recovery and investor confidence.

A surge in prices for prime residential land is reflecting Singapore’s status as a luxury real estate hotspot.

The expansion of high-tech and logistics industries drives growth in the industrial sector.

Foreigners must obtain prior approval from the Singapore Land Authority (SLA) to purchase landed residential properties, such as bungalows, terrace houses, and semi-detached houses. The approval process involves demonstrating that the purchase will contribute to the economic benefit of Singapore.

Foreigners can purchase private apartments and condominiums without requiring government approval. This includes units in condominium developments and private apartments but excludes executive condominiums, which have certain restrictions.

Foreigners can purchase commercial and industrial properties in Singapore without needing special approval. This includes office spaces, shophouses on commercial zoning, retail shops, and industrial units.

Sentosa Cove: An exception to the general restriction on landed residential property is Sentosa Cove, a residential enclave on Sentosa Island where foreigners can buy landed properties, subject to certain conditions and approvals.

Approval from the Singapore Land Authority (SLA): Foreigners must obtain approval from the SLA’s Land Dealings Approval Unit (LDAU) before they can purchase landed residential property.

Contributions to Singapore’s Benefit: The foreign applicant must demonstrate that they have made exceptional economic contributions to Singapore. Assessments are made on a case-by-case basis, taking into account significant business or employment contributions.

Permanent Residency (PR) Status: Generally, approval is more likely if the applicant is a Permanent Resident (PR) of Singapore. The LDAU tends to favor PR applicants who have been residing in Singapore for a significant period and have made substantial economic contributions to the country.

Foreigners typically only have approval to purchase landed property in designated residential areas. Properties in certain locations, especially those deemed of historical or cultural significance, may be off-limits.

Property Use: The landed property must be for the applicant’s own use and not for investment, rental, or any commercial purpose. The purchaser is typically required to occupy the property.

Property Size and Type: There may be restrictions on the size and type of the landed property that a foreigner can purchase. For instance, approval is more likely for terrace houses or semi-detached houses compared to larger properties like bungalows.

Duration of the Approval Process: The approval process can be lengthy, taking several months, and approval is not guaranteed.

Foreign owners are usually only allowed to sell the property to Singapore citizens or PRs with LDAU approvals in the future.

Buyer’s Stamp Duty (BSD): Applies to all property purchases. The rate is progressive, starting at 1% and going up to 6% on the purchase price or market value of the property, whichever is higher.

Additional Buyer’s Stamp Duty (ABSD): This is an additional tax specifically for foreign buyers, including permanent residents. For foreigners, the ABSD rate is typically significantly higher than for Singapore citizens. If they purchase a residential property here, they have to pay 60% of the purchase price, or market value. These rates are subject to change.

Property Tax: An annual tax based on the property’s annual value. It’s a progressive tax with rates depending on whether the property is owner-occupied or rented out, with higher rates for investment properties.

Seller’s Stamp Duty (SSD): If you sell the residential property within a certain period after purchasing it (usually within three years), you’ll have to pay SSD, which is calculated as a percentage of the selling price or market value, whichever is higher.

Buyer’s Stamp Duty (BSD): BSD of 3% to 5% applies to commercial properties as well, with rates depending on the purchase price or market value.

No Additional Buyer’s Stamp Duty (ABSD): Unlike residential properties, foreign buyers do not have to pay ABSD on commercial properties.

Property Tax: The Property tax depends on the annual value of the property. See More Here: Property Tax Rates Singapore

No Seller’s Stamp Duty (SSD): Commercial properties are not subject to SSD, which means they can be sold any time after purchase without incurring this tax.

Goods and Services Tax (GST): If you are buying from a GST-registered entity, the purchase might be subject to GST (currently at 9% in January 2024).

Rental Income Tax: If you earn rental income from your property, it’s subject to income tax in Singapore.

Exemption from Additional Buyer’s Stamp Duty (ABSD) as the Leading Advantage: A key benefit for all categories of investors—whether they are Singapore citizens, permanent residents, or foreign buyers—is the absence of ABSD on commercial properties. This exemption represents a significant cost savings, potentially leading to substantial profits when properties are sold at the right time and at an increased value.

No Seller’s Stamp Duty (SSD) Required: In addition to not having to pay ABSD, investors also benefit from the lack of Seller’s Stamp Duty (SSD) on commercial property transactions. This means that investors have the flexibility to sell their commercial assets anytime post-purchase without the burden of SSD, significantly enhancing the investment’s attractiveness.

Stable Economy: Singapore’s reputation for having a stable political climate and strong economic fundamentals makes it a safe haven for investors. It consistently ranks highly for ease of doing business, which bolsters investor confidence.

Strategic Location: As a key gateway to Southeast Asia and beyond, Singapore’s strategic geographical location makes it an ideal hub for businesses looking to tap into the Asian markets.

Robust Legal Framework: The country’s legal system is well-respected for its efficiency and transparency, providing a secure environment for commercial transactions.

Government Initiatives: The Singaporean government is known for its pro-business policies, including tax incentives, grants, and schemes to support businesses and investors.

High Demand for Commercial Spaces: With its growing economy, there is a consistent demand for commercial spaces from businesses expanding within the city-state.

Infrastructure and Connectivity: Singapore boasts world-class infrastructure, with excellent connectivity both within the city and internationally, further enhancing its appeal for commercial activities.

Diverse Opportunities: The commercial real estate market in Singapore offers a range of opportunities, from retail and office spaces to industrial properties and mixed-use developments.

Foreign Investor Friendly: Singapore has no restrictions on foreign ownership of commercial properties, which is not the case for residential real estate, making it particularly attractive to foreign investors.

Market Resilience: The commercial property market in Singapore has shown resilience in the face of global economic fluctuations, often rebounding quickly from downturns.

Quality of Life: Singapore’s high standard of living, safety, and cleanliness contribute to a conducive working and business environment, attracting multinational companies to set up regional headquarters here.