Villas in Singapore are mainly concentrated in the main island of Singapore and Sentosa Island.
While landed homes can be found in different parts of Singapore, the majority of landed homes are located in the central and northeastern regions.
According to List International Realty Pte Ltd, as of the first quarter of 2019, 53.5% of Singapore's landed homes are located in Districts 10, 15, 16, 19 and 20.
Of these, District 19 has the highest number of landed homes, accounting for 15.8% of the total, followed by District 15, District 10, District 16 and District 20.
In addition, Sentosa Cove, located in the south of Singapore Island, is not only Singapore's idyllic resort island, but also the only area where foreigners can buy villas in Singapore, attracting many foreigners to invest and buy properties here.
All Singaporeans are eligible to buy landed homes in Singapore under the provisions of the Residential Properties Act.
Foreigners are not allowed to buy villas unless they are PRs who have been approved by the Ministry of Justice and have made special contributions to Singapore.
Those who give up their Singapore citizenship or permanent residency must sell the landed private homes they hold.
Not many PRs are eligible to buy each year and interested buyers need to apply for approval from the Land LDAU under the SLA before they can buy a landed home in Singapore.
Of course, it is also possible to apply online, but a non-refundable fee is required.
So, what are the criteria for approval?
Each applicant will be assessed on a case-by-case basis, taking into consideration factors including but not limited to:
Be a permanent resident of Singapore for at least five years.
Must have made an extraordinary economic contribution to Singapore.
Factors such as the applicant's taxable income in Singapore will be taken into account in the assessment.
The only exception is for villas in the Sentosa Cove area. Foreigners, including non-permanent residents, are allowed to purchase land and landed private homes here. Landed private homes in this area, however, generally have land leases of only 99 years and foreign buyers are not allowed to rent them out.
Factors Affecting Price
Real estate in Singapore can be divided into three categories, HDB flats, condominiums and landed homes.
The prices of new HDB flats are set by the government, while condominiums and landed houses are completely subject to the free market economy.
The factors that affect the price of a villa in Singapore are the land lease, size, newness, quality of the home, scarcity, etc.
Value of Land
In Singapore, landed homes and condominiums are either freehold or leasehold.
However, unlike condominiums, most landed houses have freehold and the rest are on leasehold.
In terms of price, a landed house with a freehold will cost more than a landed house with a leasehold.
The factors that affect the price of a villa are much more complex than those of a condominium when it comes to deed documents, and prices vary greatly.