According to market watchers, the move will effectively close a loophole which has allowed foreigners to buy strata landed homes in such projects without gaining approval from Singapore’s Land Dealings Approval Unit (LDAU).
However, foreigners may still buy strata landed homes in condos which have already been approved by the URA.
“In recent years, there has been an increase in the number of condominium proposals comprising a mix of strata landed and apartment units within the same development,” the URA noted.
Some of the projects that have ‘condo’ status but feature strata landed homes include Thomson Grand, d'Leedon (pictured) in the Farrer Road area, Woodhaven in Woodlands, Archipelago at Bedok Reservoir and euHabitat at Jalan Eunos.
Developers have included these strata landed homes in their condo projects in response to strong demand from foreign buyers, without the need for LDAU’s approval.
Meanwhile, foreigners who wish to buy any other type of landed homes, such as units in pure strata landed housing developments, must secure approval from the LDAU.
To get approval, foreign buyers need to fulfil certain criteria that include being a permanent resident (PR) and significantly contributing to Singapore’s economy. However, with tighter controls imposed since last year, the number of approvals for PR buyers will likely decline.
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