Can Foreigners Buy a Home at The Island Residence?

Published 9 October 2026 · Figures as at October 2026

The Short Answer for The Island Residence

Foreign buyers may purchase private apartments in Singapore, including apartments in condominium developments, without the government approval that landed homes require. The Island Residence is a private residential development, and the developer will confirm its home types at release; for apartments, the main difference a foreign buyer meets is the Additional Buyer’s Stamp Duty, charged at 60% of the price on top of the Buyer’s Stamp Duty every buyer pays.

That single figure outweighs every other cost for a foreign buyer, so it is worth understanding before a home is chosen. The rest of this article sets out who may buy, how the duty is worked out, the exceptions under Singapore’s free trade agreements and how a purchase is financed and completed from overseas.

Who May Buy at The Island Residence

Singapore distinguishes between landed homes, such as detached and terrace houses, which foreigners generally may not buy without approval, and apartments in private developments, which they may buy freely. Executive condominiums are a separate category reserved for eligible Singapore households in their early years; The Island Residence is a private development, so its sale follows the private-housing rules.

Singapore Citizens, Singapore Permanent Residents, foreigners and companies may all buy private apartments. What changes from one buyer to the next is the stamp duty, and for buyers who already own property, the loan limits.

ABSD at The Island Residence by Buyer Profile

ABSD is charged on top of Buyer’s Stamp Duty. The rates below have applied since 27 April 2023 and are those published by IRAS as at October 2026.

Singapore Citizens pay 0% on a first residential property, 20% on a second and 30% on a third or subsequent one. Singapore Permanent Residents pay 5%, 30% and 35%. Foreigners pay 60% on any residential property, and entities, including companies, pay 65%.

On $1,500,000, an illustrative figure that bears no relation to the pricing of The Island Residence, Buyer’s Stamp Duty is $44,600 and a foreign buyer would add $900,000 of ABSD, for $944,600 in total. The stamp duty calculator runs the same arithmetic for any figure and profile.

The Free Trade Agreement Exceptions at The Island Residence

Under Singapore’s free trade agreements, nationals and permanent residents of the United States, and nationals of Iceland, Liechtenstein, Norway and Switzerland, receive the same ABSD treatment as Singapore Citizens. A buyer in one of these groups buying a first residential property in Singapore therefore pays no ABSD at all.

IRAS applies the treatment on the buyer’s status at the date of purchase, and it is worth confirming with a conveyancing lawyer before the option to purchase is exercised. The stamp duty page sets out the full tables.

Financing a Foreign Purchase at The Island Residence

Banks in Singapore lend to foreign buyers within the same MAS framework as local buyers: a loan-to-value limit of 75% for a borrower with no other housing loan, falling to 55% where the tenure exceeds 30 years or the loan would run past age 65, and a Total Debt Servicing Ratio of 55% of income. In practice each bank sets its own policy on overseas income, so an in-principle approval is the best first step.

Because ABSD is generally due within 14 days of signing the sale and purchase agreement, a foreign buyer needs that sum ready early, alongside the 5% booking fee. Foreign buyers have no CPF, so the downpayment and the duty are paid in cash. The progressive payment calculator sets the duty beside the instalments, and the housing loan page explains the limits.

Completing a Purchase at The Island Residence From Overseas

A foreign buyer follows the same steps as a local one: an option to purchase with the booking fee, the sale and purchase agreement, then the progressive instalments as construction is certified. A Singapore conveyancing lawyer acts throughout, and documents can be signed remotely where the lawyer allows.

Many overseas buyers time a preview appointment around a visit to Singapore. Joining the preview list now means the e-brochure, the floor plans and the price list arrive by email on release, so a shortlist can be ready before the trip.

For a foreign household, the setting itself is often the draw: an island address in Keppel Bay, about 1.2 km in a straight line from HarbourFront station, with Sentosa across the water and the completed Circle Line to Marina Bay. The location page maps the distances.