Singapore says foreigners need approval to buy mixed commercial and residential properties, land
- The government made changes to the Residential Property Act to ‘safeguard residential land for Singaporeans’
- Mixed commercial and residential developments were previously part of the list of land use zones designated as non-residential property
The Ministry of Law (MinLaw) and the Singapore Land Authority (SLA) on Wednesday night announced that they have refined the Residential Property Act (RPA) to classify these developments as residential property or land.
Mixed commercial and residential developments, which include shophouses and some shopping centres with residences above, were previously part of the list of land use zones designated as non-residential property.
The update was part of the regular review of the RPA to ensure the land use zones are up to date with the prevailing zoning terminology used by the Urban Redevelopment Authority (URA), said MinLaw and SLA in a joint press release on Wednesday.
According to URA’s website, mixed commercial and residential developments include a combination of commercial uses and residential flats.
As land zoned or developments permitted for mixed use are predominantly for residential use, such developments will now be deemed as residential property and regulated under the RPA, said MinLaw and SLA.
