Buying & Renting Properties for PRs
Buying a property in Singapore for Permanent Residents
Purchase of HDB or HUDC Flats for Singapore Permanent Residents (PR)
Singapore PRs are allowed to buy HDB or HUDC flats from the resale market, including those below six levels. Applicants may apply for the purchase of a resale flat under the Citizen/ SPR Siblings Scheme (NCP), subject to the conditions that the applicant has to be either a citizen or a Singapore PR with a minimum of at least one other sibling who is also a Singapore Permanent Resident. The applicant must be at least 21 years old. For the case of a family nucleus, the applicants must be two single siblings who are not married and whose parents are not Singapore PRs and not residing in Singapore on a permanent basis.
One other special condition that needs to be fulfilled is that if the applicant’s parents have a social pass of six months or lesser, the applications must be supported with a Statutory Declaration to prove that the parents are non-citizens that will not reside in Singapore permanently. In addition, the siblings of the same parents are not allowed to apply to rent or to purchase any flat separately.
New Ruling for Singapore PRs on the purchase of HDB Resale Flats as of 27 August 2013
As of 27 August 2013, all Singapore Permanent Residents will not be able to apply for the purchase of HDB resale flats as soon as they obtain the SPR status. Presently, all SPR households are to wait for a period of three years before they can be eligible to buy a resale flat in the market. This is a measure recently sanctioned to stabilize the HDB resale market in regulating the resale flats supply and prices for Singaporeans.
Looking for Property to Rent in Singapore?
HDB Rental Scheme for New Permanent Resident (PR)
Permanent residents are allowed to apply for this scheme to rent HDB flats. Under this integrated non-citizen housing scheme for new PR, the employment pass holder or skilled work permit holders who have not stayed in Singapore for more than two years, must not earn a monthly income that exceeds $2,500 for singles and a combined household income of more than $5,000 for married couples. The term of the tenancy or the tenure, must not exceed two years, and there is no renewal option of lease term. All applicants must be at least 21 years old.
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