What is the foreign ownership in CCR

In the Core Central Region (CCR) of Singapore, foreign ownership of non-landed properties is subject to certain trends and regulations. Here are some key points:

- Prior to the cooling measures implemented, foreign buyers accounted for 15.8% of CCR non-landed sales transactions in the first quarter of 2023.
- Following these measures, which included an increase in the Additional Buyer’s Stamp Duty (ABSD) rates to 60% for foreign buyers, the number of foreign purchases in the CCR has been impacted. For instance, in the first half of 2024, there were only 64 residential property purchases by foreigners in the CCR.

Foreign buyers do not need special approval to purchase non-landed properties like condominiums in the CCR, but they are subject to the higher ABSD rates and other regulatory measures aimed at stabilizing the property market.