Written Answer by Minister for Law K Shanmugam to PQ on GCBs by Non Citizens Under Special Approval
02 Aug 2022 Posted in Parliamentary speeches and responses
Mr Leong Mun Wai (Non-Constituency MP)
To ask the Minister for Law (a) whether there are any good class bungalows (GCBs) bought by non-citizens under special approval since 2000; and (b) if so, how many GCBs have been approved for such purchase.
- For the last ten (10) years, from 2012 to 2021, there have been 5 approvals given under the Residential Property Act (RPA) for the acquisition of Good Class Bungalows (GCBs) by non-Singaporeans. The acquirers were Singapore Permanent Residents. Of the 5 GCBs, 2 were inheritance cases, involving transfers between family members. Thus only 3 GCBs in the 10 years were new purchases.
- Applications to purchase GCBs are carefully assessed against stringent criteria and approvals are only granted to Singapore Permanent Residents that meet the criteria.
- The data has to be collated manually and takes effort and time. If the member requires the collation of transaction data further beyond 2012, (i.e. the last 10 years), he can write to the relevant agencies with the reasons for his request. The agencies will then look for and collate the data.
Last updated on 02 August 2022