Guide to Owning a Property: How Can a PR Buy a Condo in Singapore?
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For many permanent residents (PRs), one of the most common questions is “Can a PR buy a condo in Singapore?” The short answer is yes.
PRs can purchase private condominiums, but there are specific conditions to understand before deciding. Continue reading to learn more about this.
How PRs Can Purchase a Condo
Unlike Singaporean citizens, PRs cannot directly buy subsidized HDB flats. However, they can purchase a private condo in Singapore alone or jointly with family members. It’s important to note that Additional Buyer’s Stamp duties may apply, and loan eligibility could differ from that of the citizens.
Key considerations include the following:
Eligibility to buy only private properties, not new HDBs
Financing rules and downpayment requirements
Extra taxes such as the Additional Buyer’s Stamp Duty (ABSD)
Benefits of Condo Ownership
Owning a condo provides lifestyle perks and financial opportunities. Some benefits may include:
Access to shared facilities like gyms, pools, and security
Potential for rental income generation
Long-term property value appreciation
With these advantages, expert guidance can help simplify the buying process.
Consult the Best Property Agent in Singapore for Guidance
When a PR buys condo in Singapore, it involves more than just eligibility—it’s about making a well-informed choice. Working with the best property agent in Singapore can help you navigate rules, financing, and market conditions effectively. If you’re considering condo ownership, consulting a trusted professional is the smartest step toward securing your future home.
