Fewer foreigners can buy landed property

Presently, only 3.5% of foreigners (who are PRs) own private property and the numbers are set to decline. The Govt has said that it will be more difficult to get approval to purchase landed property here unless they have contributed significantly to the economy.

Law Minister K Shanmugam said that only Singaporeans and PRs can buy landed property and the latter must seek approval before purchase. Each approval is only entitled to a purchase of one unit, as land should be owned by mostly Singaporeans. And even if these PRs want to rent out their landed property, they have to get approval before doing so.

So you see? PR has a lot more 'restrictions' than Singaporeans! Cannot buy landed homes so easily anymore. Those living in landed homes must heave a sigh of relief! Don't have to worry about new neighbours complaining about the curry aroma coming from their kitchens?

Source: H88.com.sg