Single Permanent Resident Buying First Property (Top 3 Questions by PR)

Buying a property as a single Singaporean is tough in Singapore, let alone single permanent resident buying first property. Below are answers to the top 3 most commonly asked questions by Permanent Residents buying their first property in Singapore.

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     Table of Content

• Will the 5% ABSD be Removed?
• Can Single PR buy HDB?
• What Property can a Single PR Buy?

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📌1. Will the 5% ABSD be Removed

• Will the 5% additional buyer stamp duty (ABSD) be removed?
• My view is that ABSD is here to stay and will remain intact for many years.
• In the past few rounds of cooling measures, the government has abstained from raising the ABSD rate many times for first time PR buyers
• This is to encourage PRs to buy their first home and put down their roots in Singapore.
• This 5% charge is unavoidable. There is no way around.
• If this ABSD is removed, it will likely create a buying surge among PRs and result in home owners raising their price expectations.
• At the end of the day, you are either going to pay “this 5%” to the government or to the sellers

📌2. Can Single PR buy HDB?

• Single PR cannot buy any HDB in Singapore.
• However, 2 PRs can buy a resale HDB flat only after obtaining PR status for 3 years.
• They must form a family nucleus or buy under the fiancé/fiancée scheme

📌3. What Property can Single PR Buy?

• Single PR can buy 3 types of properties in Singapore.
• Single PR can buy a resale Executive Condo (EC) but not new EC from developers
• New EC owners can sell their units to PR after meeting the 5 years Minimum Occupation Period.
• Single PR can also buy private condos in Singapore.
• Lastly, they are also eligible to buy strata landed housing in approved condo projects

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