From July 20, foreigners will need government approval to purchase land categorized as "commercial and residential" in Singapore. The change is a result of amendments to the Residential Property Act (RPA), aimed at safeguarding residential land for Singaporeans. Developments on such land will now be considered residential properties and regulated under the RPA. Examples of "commercial and residential" properties include shopping centers, hotels, offices, and residential buildings. Existing foreign owners can retain their properties without seeking approval, but they must obtain approval if they plan to redevelop the property. Some exemptions to seeking approval are allowed for certain cases. Additionally, seven non-residential land use zones have been added to the list to clarify that residential uses are not allowed in these areas. These changes are part of regular reviews to manage the property market and ensure its stability.
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