Expats look to move out of the UK to Singapore
Many expats are looking to move out of the UK for pastures new further afield. And, for many, Singapore is the ideal destination. It offers world-class amenities and tremendous wealth with a higher-than-Western standard of living. But it is also culturally different – something that is creating a lot of interest for people in Western markets.
Whether expats can buy properties in the country, however, isn’t always entirely clear. Singapore has strict rules about who can move there, and who can’t – and under what conditions.
For instance, foreigners cannot buy new HDB flats, a government-run housing scheme in operation in the country. These affordable properties are the sole preserve of people who already have full Singaporean citizenship.
There are also certain conditions that foreign buyers have to attain if they want to purchase resale HDB flats. For instance, they may have to agree to use the property in a certain way or wait for a sufficient number of years of citizenship to pass before purchasing.
There are, however, fewer restrictions on non-HDB flats in the city state, as the following infographic explains. For instance, investors can buy freehold and leasehold properties and private apartments going at the market rate. Investors can also quite freely plough their money into commercial properties, such as hotels, and units designed for industrial production.
A local property group has created the following infographic which explains the situation in more detail. Experts recommend that you do plenty of research before considering any type of property investment in the country.
