v256.0 · real-estate · SG · verified 2026-04
Singapore real-estate market
Real-estate market in Singapore for foreign buyers — ownership rules, residency-by-investment, average prices, mortgage availability, transaction costs, rental yields, top brokerages, recent regulatory changes.
Market size
SGD 600B+ residential market (2024)
Currency
SGD
Foreign-buyer access
Foreigners CAN buy condos (private apartments) and most strata-titled property · Landed property + HDB (publi...
Rental yields
CCR: 2.5-3.5% gross · RCR: 3-4% · OCR: 3.5-4.5% · Yields among Asia's lowest but strong capital appreciatio...
Ownership rules + RBI pathway
| Foreign-buyer rules | Foreigners CAN buy condos (private apartments) and most strata-titled property · Landed property + HDB (public housing) requires approval from Singapore Land Authority (very rarely granted to foreigners) · Sentosa Cove only landed area accessible to foreigners |
| Residency-by-investment | Global Investor Programme (GIP) — minimum SGD 10M business investment OR SGD 25M+ family-office AUM · Property purchase alone NO longer guarantees residence · Foreigner-buyer ABSD raised to 60% in April 2023 (was 30%) — effectively closed foreign property as RBI route |
| Regulator | URA (Urban Redevelopment Authority) · SLA (Singapore Land Authority) · CEA (Council for Estate Agencies) · IRAS (taxation) |
Average prices
| Capital city | CCR (Core Central Region): SGD 2,500-5,500/sqft (~SGD 26,900-59,200/sqm) · RCR (Rest of Central): SGD 1,800-3,000/sqft · OCR (Outside Central): SGD 1,400-2,200/sqft |
| Secondary markets | East Coast: SGD 1,600-2,500/sqft · Bukit Timah: SGD 2,200-4,200/sqft · Sentosa Cove (landed): SGD 2,500-4,500/sqft · HDB resale not accessible to foreigners (Singapore citizens/PRs only) |
| Rental yields | CCR: 2.5-3.5% gross · RCR: 3-4% · OCR: 3.5-4.5% · Yields among Asia's lowest but strong capital appreciation history |
Mortgage + transaction costs
| Mortgage availability | Foreign buyers: 50-60% LTV typical · Singapore tax-resident: 75% LTV (first property) · TDSR 55% income limit · MSR 30% for HDB · Rates 3-4.5% (2024 SORA-linked) |
| Transaction costs | BSD (Buyer's Stamp Duty) tiered 1-6% · ABSD foreign-buyer 60% (April 2023+) · ABSD Singapore citizen 0% first / 20% second / 30% third · Legal SGD 3,000-6,000 · Total foreign-buyer ~62-66% |
| Top brokerages | PropertyGuru, 99.co (portals) · ERA, Huttons, OrangeTee, Propnex, Knight Frank, Savills, Cushman & Wakefield, JLL |
Recent changes (2023-2026)
2023: ABSD foreign-buyer raised from 30% → 60% in April · 2024: GIP minimum raised to SGD 10M (was SGD 2.5M business + SGD 200K family-office) · TDSR/LTV macroprudential continued · GST raised 8% → 9% Jan 2024 · Property tax revised
Strengths
- Strong legal framework (URA + SLA) and English-language
- Stable USD-pegged SGD
- Excellent infrastructure + transit
- Strong long-term capital appreciation history
- High build quality + amenities standard
- GIP family-office pathway for HNW
Drawbacks
- ABSD foreign-buyer 60% essentially closed market to foreign HNW (April 2023+)
- Landed + HDB closed to foreigners
- Rental yields among Asia's lowest (2.5-4.5%)
- Strict TDSR limits leverage
- GIP minimum raised to SGD 10M business investment
Source: official Singapore regulator page · Last verified 2026-04
See also: Singapore country profile · real-estate atlas