Good Class Bungalows Purchased by Non-citizens Under Special Approval

Debated in Parliament on 2 Aug 2022.

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Mr Leong Mun Wai asked whether non-citizens have purchased Good Class Bungalows (GCBs) under special approval since 2000 and how many such approvals have been granted.
Minister K Shanmugam stated that from 2012 to 2021, five approvals were given under the Residential Property Act for non-Singaporeans to acquire GCBs, with all acquirers being Singapore Permanent Residents.
Of the five approvals, two were inheritance cases involving family transfers, meaning only three were new purchases by SPRs in the last decade.
Applications are assessed against stringent criteria, and approvals are only granted to SPRs who meet these requirements.
If further data beyond 2012 is needed, the Member must write to relevant agencies with reasons, and they will collate the information.

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Leong Mun Wai

Mr Leong Mun Wai asked the Minister for Law (a) whether there are any Good Class Bungalows (GCBs) bought by non-citizens under special approval since 2000; and (b) if so, how many GCBs have been approved for such purchase.

K Shanmugam

For the last 10 years, from 2012 to 2021, there have been five approvals given under the Residential Property Act (RPA) for the acquisition of Good Class Bungalows (GCBs) by non-Singaporeans. The acquirers were Singapore Permanent Residents (SPRs). Of the five GCBs, two were inheritance cases, involving transfers between family members. Thus, only three GCBs in the past 10 years were new purchases.

Applications to purchase GCBs are carefully assessed against stringent criteria and approvals are only granted to SPRs that meet the criteria.

The data has to be collated manually and takes effort and time. If the Member requires the collation of transaction data further beyond 2012, which is the last 10 years, he can write to the relevant agencies with the reasons for his request. The agencies will then look for and collate the data.

Summary written by AI (learn more)

Mr Leong Mun Wai asked whether non-citizens have purchased Good Class Bungalows (GCBs) under special approval since 2000 and how many such approvals have been granted.
Minister K Shanmugam stated that from 2012 to 2021, five approvals were given under the Residential Property Act for non-Singaporeans to acquire GCBs, with all acquirers being Singapore Permanent Residents.
Of the five approvals, two were inheritance cases involving family transfers, meaning only three were new purchases by SPRs in the last decade.
Applications are assessed against stringent criteria, and approvals are only granted to SPRs who meet these requirements.
If further data beyond 2012 is needed, the Member must write to relevant agencies with reasons, and they will collate the information.

Questions identified by AI (learn more)

Good Class Bungalows Purchased by Non-citizens Under Special Approval | PAPERCUTS

Good Class Bungalows Purchased by Non-citizens Under Special Approval

Debated in Parliament on 2 Aug 2022.

Summary written by AI (learn more)

Mr Leong Mun Wai asked whether non-citizens have purchased Good Class Bungalows (GCBs) under special approval since 2000 and how many such approvals have been granted.
Minister K Shanmugam stated that from 2012 to 2021, five approvals were given under the Residential Property Act for non-Singaporeans to acquire GCBs, with all acquirers being Singapore Permanent Residents.
Of the five approvals, two were inheritance cases involving family transfers, meaning only three were new purchases by SPRs in the last decade.
Applications are assessed against stringent criteria, and approvals are only granted to SPRs who meet these requirements.
If further data beyond 2012 is needed, the Member must write to relevant agencies with reasons, and they will collate the information.

Questions identified by AI (learn more)

Full Transcript

Leong Mun Wai

K Shanmugam

Applications to purchase GCBs are carefully assessed against stringent criteria and approvals are only granted to SPRs that meet the criteria.

Summary written by AI (learn more)

Mr Leong Mun Wai asked whether non-citizens have purchased Good Class Bungalows (GCBs) under special approval since 2000 and how many such approvals have been granted.
Minister K Shanmugam stated that from 2012 to 2021, five approvals were given under the Residential Property Act for non-Singaporeans to acquire GCBs, with all acquirers being Singapore Permanent Residents.
Of the five approvals, two were inheritance cases involving family transfers, meaning only three were new purchases by SPRs in the last decade.
Applications are assessed against stringent criteria, and approvals are only granted to SPRs who meet these requirements.
If further data beyond 2012 is needed, the Member must write to relevant agencies with reasons, and they will collate the information.

Questions identified by AI (learn more)

Good Class Bungalows Purchased by Non-citizens Under Special Approval

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Leong Mun Wai

K Shanmugam

Summary

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Good Class Bungalows Purchased by Non-citizens Under Special Approval

Summary

Questions Identified

Full Transcript

Leong Mun Wai

K Shanmugam

Summary

Questions Identified