In Singapore, there are no restrictions on foreign ownership of condominiums.
No currency controls.
No capital gains tax.
Foreigners can apply for housing loans, with loan amounts up to 70% of the purchase price.
Loan interest rates are relatively low, with the latest fixed rate being around 1.8% per annum.
Rental yields are generally higher than interest rates.
When the property is rented out, the mortgage interest can be tax-deductible.
Property rights are protected.
In Singapore, developers can only sell projects after obtaining permission from the Urban Redevelopment Authority for planning and marketing. The law requires developers to establish an escrow account to protect property rights and capital gains tax without currency controls. The funds in this account can only be used for the marketing and development of this specific project, which helps protect the interests of homebuyers, ensuring that there are no abandoned buildings.
To further protect buyers' interests, the Singapore government requires all real estate developers to collect payments from buyers in installments according to an agreed payment schedule. The payment schedule for purchasing brand new, uncompleted units directly from developers is generally three years.
