Restricted properties include:
Each applicant is assessed on a case-by-case basis, taking into consideration, including but not limited to, the following factors:
(a) You should be a permanent resident of Singapore for at least five years; and
(b) You must make exceptional economic contribution to Singapore. This is assessed taking into consideration factors such as your employment income assessable for tax in Singapore.
Yes, you may apply for an approval in-principle. In fact, you are encouraged to do so before entering into any contract to purchase a restricted property so as to avoid any forfeiture of monies paid in the event you are not granted approval to acquire the property.
If approval is granted, you have to submit the details of the property you intend to purchase within 1 year from the date of the letter of approval. Otherwise, the approval will lapse and you will have to make a fresh application. There is no extension of validity for the approval in-principle granted.
The general processing time is about one (1) month from the date we receive all the relevant documents and information required to process the application. Some applications may take longer to process.
The processing time includes verifying the information with other agencies, checking if the applicant or his spouse owns restricted property, as well as the assessment of the application by the Residential Property Advisory Committee before the final recommendation is sent to the Minister for consideration.
You may check the information online using this link.
To get to the relevant page, click:
(i) “Land Use Plans”
(ii) Select “Controls Plans”
(iii) Select “Landed Housing Areas Plan”.
The conditions are that:
(a) you shall use the property solely for your own occupation and that of the members of your family as a dwelling house and not for rental or any other purpose;
(b) you shall not dispose of the property within 5 years from the date of legal completion of the purchase of the property or, if the property is under construction, 5 years from the date of issue of the Temporary Occupation Permit or Certificate of Statutory Completion (whichever is issued earlier) for the property; and
(c) you shall not subdivide the property without approval.
Yes. If approval is granted, you will be required to complete the construction of the dwelling house on the property within 3 years from the date of the letter conveying the decision.
Yes. If the works require the Building and Construction Authority (BCA) approval and the Temporary Occupation Permit or Certificate of Statutory Completion is issued upon completion of the works, you have to apply for approval to carry out the works by submitting an online application. A non-refundable application fee is payable.
Please visit the BCA website for more information on the proposed works.
Yes, you are required to submit an online application for variation of condition to remove the conditions imposed with regard to the above works. A non-refundable application fee is payable.
Yes, you may, provided you have fulfilled the 5-year non-disposal condition. However, if you are granted approval for the purchase, you will be required to dispose of your existing restricted property as follows:
(i) on or before the date of legal completion of the purchase of the new property; or
(ii) within 3 months from the date of issue of the Temporary Occupation Permit or Certificate of Statutory Completion (whichever is issued earlier) if the property is under construction; or
(iii) within 3 months from the date the seller delivers vacant possession of the new property for which the Temporary Occupation Permit has been issued but separate title has not been issued yet.
Depending on which condition is breached, you may be required to pay a financial penalty or be liable, upon conviction by a court, to a fine of up to $200,000 and/or imprisonment for a term of up to 3 years.
No. You are required to sell the restricted property within 2 years from the date of cessation of your Singapore permanent residence.
If you fail to do so, you shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000 or to imprisonment for a term not exceeding 3 years or both.
[Note: The same will apply if you own restricted property and have ceased to be a Singapore citizen.]
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