and Governing Body
are generally classified as:
Refers to properties for the purpose of residence
residential property are residential units with individual ground contact. It includes vacant land, detached and semi-detached houses, bungalows,
landed or Strata titled residential property which includes flats, apartments and
Refers to properties owned to
produce income and/or used
solely for business, trade in goods and services purposes. It
includes shopping malls, offices, convenience stores and restaurants and hotels.
Refers to properties used
as sites for production and warehousing. It includes factories
and storage facilities.
Singapore, there 3 main governing bodies for properties matters are HDB, JTC and URA. A
quick snapshot as follows:
Development Board (HDB) regulates and administer the sales of new public housing (HDB flats) and commercial
properties (HDB shop house). For more information and details, please refer to
Coporation (JTC) regulates and administer the sales of industrial properties by the Government. For more
information and details, please refer to JTC website.
properties, be it residential, commercial or industrial are regulated by the Urban Redevelopment Authority
(URA). For more infromation, please refer to URA website
Leasehold is a form of land tenure or property tenure where one party buys the right to occupy the
land or building for a given period of time. When the lease
expires, ownership of the property reverts back to the freeholder. The lease length may be extended by
agreement with the Freeholder at a specified cost.
Freehold gives outright ownership of the property and land on which it stands. A freehold
estate is where the owner of the land has indeterminate period of ownership. In Singapore, Fee Simple (or Grant in
Fee Simple) and Estate in Perpetuity (Statutory Land Grant) are form of freehold estate. Fee Simple owner
does not pay ground rent while Estate in Perpetuity owner is subject to payment of ground rent.
In the market,
here may be private freehold owners/developers selling their properties on leasehold term. Also t
here may be
leasehold property tenure of 999 years being
marketed as ‘freehold’.
A condominium is a type of residential property created under the Land Titles (Strata) Act, Chapter 158 and is also
known as a "strata title property". Both condo and apartments are strata titled and both shared common facilities
within the premises
For a development to be granted a condominium status, the size of the site must be at least 40,000 sqft. Anything
less than 40,000 sqft is classified as an apartment. Because of its bigger land area, condominium has a lot more
common facilities than an apartment. Residents are expected to have complete access to all common facilities and
areas such as gymnasium, BBQ area, swimming pool, etc…
A condominium owner owns a share of the common facilities. Under the same Act, a Management Corporation (MC) needs
to be created to manage the common property. A condominium owner can
be voted into the management council to have a say in the management of the common property. An apartment owner has certain rights and obligations spelt out under the lease.
However, An apartment owner is not able to participate in the management of the facilities.
difference between commercial and industrial land is mainly one of use. Commercial areas are used for trading
goods and services while industrial areas serve as sites of production. Commercial areas are most valuable
when they receive heavy traffic from potential customers. Industrial areas, by contrast, benefit from easy
and quick access to transportation.
For public housing, a SPR/foreigner must formed a valid family nuclues comprising of at least 1 Singpaore Citizen
in order to buy a new BTO/DBSS/EC unit from HDB or a resale unit from the market. A SPR
couple cannot only buy a new HDB unit from the market, a SPR couple can only buy a resale HDB
There is no
restriction for foreigners to purchase commercial and industry properties. However, for private residential property, there are certain restrictions imposed
by the Government since 1973. Under the Residential Property
Act, foreigners cannot
purchase vacant residential land, landed property (detached house, semi-detached house, terrace house (including
linked house or townhouse) unless prior approval is obtained from the Minister of Law. For more details, see on
foreigner purchasing restricted residential property
Occupation Period and/or Holding Period
For Public HDB Housing,
including Resale HDB flats as well as new BTO, EC and DBSS flats, there is a Minimum Occupation Period (MOP) of 5
years before the unit can be re-sold in the market.
For private residential
property, there is no minimum holding period (the interval between the acquisition and sale of property) or minimum
occupation period for private property before a unit can be resold in the market.
For foreigners who have
obtained approval to purchase landed residential property, the sale of landed property is allowed only after a
minimum occupation period of three years. The only exception is landed
property in Sentosa Cove.