August 2009 Issue: Sentosa Cove - Second Article

This is the second in a series of 4 small articles of "Did you know" on Sentosa Cove. Stay tuned for more "Did you know".
Did you know that Sentosa Cove is the ONLY place in Singapore where foreigners (non-PRs) are allowed to purchase landed property?
Under normal circumstances, foreigners have to be permanent residents before they can seek permission from the Singapore Land Dealings Unit, under the Singapore Land Authority, to buy landed properties anywhere on mainland Singapore. The approval usually takes about 4 weeks.
In the case of Sentosa Cove however, not only non-PR foreigners can buy landed property, they can also obtain the approval to purchase within 48 hours under a special fast-track approval scheme. However, this comes with the condition that foreigners would have to occupy the landed homes themselves and must not own more than one of such restricted property in Singapore.



