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Housing

Buying a condominium: foreign quota, title and source of funds

Checks before a reservation payment and the distinction between condominium, land and residence rights.

Checked:

Official services and forms

Verify the property and foreign quota

The Department of Lands handbook describes the foreign ownership limit as 49% of aggregate condominium unit floor area, rather than simply the number of units. Before a reservation payment, obtain current quota evidence and check title, encumbrances, arrears and seller authority with the responsible Land Office. A property advertisement is not registry evidence.

Plan the payment and registration first

The purchaser’s qualifying basis affects the required banking and acquisition evidence. Before transferring funds, agree with the bank and Land Office which remittance documents your case requires. A condominium purchase is separate from land ownership, a visa and work permission. Land has separate restrictions and exceptions; do not accept a nominee owner or sham company as a promised safe workaround.

Next steps

  1. Verify title and seller independently of the agent.
  2. Obtain the current foreign floor-area quota evidence.
  3. Agree remittance documentation before payment.
  4. Review the contract, reservation refund and registration costs.

Official sources

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