Residential Property (Exemption) Notification 2005

This Notification may be cited as the Residential Property (Exemption) Notification 2005 and shall come into operation on 19th July 2005.

In this Notification, “landed dwelling-house” means a detached house, a semi-detached house or a terrace house (including a linked house or a townhouse), whether or not comprised within a strata title plan registered under the Land Titles (Strata) Act (Cap. 158).

Subject to the condition set out in paragraph 4, section 3(1) of the Act shall not prohibit the purchase or acquisition by, or any transfer to, a foreign person of any estate or interest in any flat that —

is comprised in any building consisting of less than 6 levels (including the ground level and any level below the ground) in a development permitted to be used under the Planning Act (Cap. 232) for residential purposes; and

is not a landed dwelling-house.

Where a foreign person has purchased or acquired a flat referred to in sub-paragraph (1), the provisions of the Act shall not affect the share in the land on which the flat stands if such share is shown in the transfer as appurtenant to the flat purchased or acquired by the foreign person.

Subject to the condition set out in paragraph 4, section 3(1) of the Act shall not prohibit the purchase or acquisition by, or any transfer to, a foreign person of any estate or interest in any flat that —

is comprised in any building consisting of less than 6 levels (including the ground level and any level below the ground) in a development permitted to be used under the Planning Act (Cap. 232) for residential purposes; and

is not a landed dwelling-house.

Where a foreign person has purchased or acquired a flat referred to in sub-paragraph (1), the provisions of the Act shall not affect the share in the land on which the flat stands if such share is shown in the transfer as appurtenant to the flat purchased or acquired by the foreign person.

A foreign person shall not be permitted to purchase or acquire all the flats in every building consisting of less than 6 levels in a development permitted to be used for residential purposes under the Planning Act.