Debated in Parliament on 2 Sep 2019.
Mr Sitoh Yih Pin asked the Minister for Law (a) what are the policies on permanent residents owning landed residential property in Singapore; and (b) whether there is any upper limit on the size of the land that they can own for such landed residential property.
The Government takes a strict approach towards ownership of landed residential property in Singapore by foreigners, including Permanent Residents, to ensure that they remain the primary preserve of Singapore Citizens, given their scarcity.
Foreign ownership of landed residential properties in Singapore is restricted under the Residential Property Act (RPA) and foreigners who wish to purchase such properties must seek the approval of the Minister for Law.
Applicants are assessed on a case-by-case basis, taking into consideration factors such as their economic contribution to Singapore. Foreigners that are granted approval are allowed to own only one landed residential property, and the property must be used for their own occupation.
There are more stringent qualifying criteria for landed residential properties that are larger than 15,000 square feet, and those situated within a good class bungalow area.
PAPERCUTS