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List your businessHow the property market works in Singapore
In Singapore, real estate agents and agencies must be licensed by the Council for Estate Agencies (CEA), which maintains a public register of licensed salespersons and handles disciplinary matters.
Ownership of residential property by foreigners is restricted for landed housing under the Residential Property Act, though most non-landed private condominium units can be purchased by foreign buyers, subject to Additional Buyer's Stamp Duty (ABSD).
Buying and selling: key steps
Conveyancing is handled by a lawyer, and the transfer is registered with the Singapore Land Authority (SLA), which maintains the land register under the Torrens-based land titles system; for HDB public housing flats, the sale process additionally runs through the Housing & Development Board.
Buyers pay Buyer's Stamp Duty on all purchases, and may also owe Additional Buyer's Stamp Duty depending on residency status and the number of properties already owned.
Working with agents, managers and architects
Commission rates in Singapore are not fixed by regulation and are negotiated between client and agent, commonly structured as a percentage of the transaction value for private property, with the agreement set out in a CEA-prescribed estate agency agreement format.
Architects must be registered with the Board of Architects (BOA) Singapore, and building plans require approval from the Building and Construction Authority (BCA) before work can start.
Things to check before hiring
Check an agent's license status and any disciplinary record on the CEA public register before engaging them.
Review the title information available through SLA's Integrated Land Information Service (INLIS), and for condominiums, check the management corporation's financial statements and any pending additions and alterations approvals before purchasing.