Foreign ownership of vacant residential land and residential property, except a condominium unit, flat unit and strata landed house in an approved condominium development, is prohibited unless for own residential purpose. In this case, it is subject to approval under the Residential Property Act. No restriction with regards to foreign ownership of industrial or commercial properties.
"PART I - PRELIMINARY [...]
Interpretation
2.—(1)  In this Act, unless the context otherwise requires — [...]
“foreign person” means any person who is not any of the following: (a) a citizen of Singapore; (b) a Singapore company; (c) a Singapore limited liability partnership; (d) a Singapore society;
“residential property” includes — (a) any vacant land upon which no building or other structure exists or any land upon which exists any building or other structure which is constructed or used contrary to any written law; (b) any house, building or other premises or any part thereof which is permitted to be used pursuant to the Planning Act (Cap. 232) or any other written law as a dwelling-house or which is lawfully so used; (c) any land zoned for residential purposes in the Master Plan; and (d) such other land or building, in whatever manner zoned in the Master Plan, as the Minister may, by notification in the Gazette, declare to be residential property for the purposes of this Act, but does not include — (i) any land, whether or not vacant, which is zoned for industrial or commercial purposes or both such purposes in the Master Plan or which is permitted to be used pursuant to the Planning Act (Cap. 232) or any other written law solely for industrial or commercial purposes or both such purposes; (ii) any house, building or other premises, or any part thereof, which is permitted to be used pursuant to the Planning Act or any other written law solely for industrial or commercial purposes or both such purposes or which is lawfully so used; (iii) any hotel registered under the provisions of the Hotels Act (Cap. 127); and (iv) such other land or building, in whatever manner zoned in the Master Plan, as the Minister may, by notification in the Gazette, declare to be industrial, commercial or non-residential property for the purposes of this Act; [...]
“member”, in relation to any company, means — (a) any person who owns a share or holds a membership in the company; (b) in the case of a share or membership in the company that is held in trust, the person who is the beneficiary of the trust; or (c) any person, not being an owner of a share or a holder of a membership in the company, who controls any rights attached to any share or membership in the company through a contract or other arrangement; [...]
“Singapore company” means any company which satisfies the following requirements: (a) the company is incorporated in Singapore and its directors and members are all citizens; (b) if any member of the company is another company, that other company satisfies the requirements of paragraph (a); (c) if that other company referred to in paragraph (b) has a member which is a company, which in turn has a member which is also a company and so on, all the members of each such company consist only of any or any combination of the following: (i) citizens; and (ii) companies that satisfy the requirements of paragraphs (a) and (b); and (d) if any member of the company is a limited liability partnership, that limited liability partnership is a Singapore limited liability partnership;
“Singapore limited liability partnership” means any limited liability partnership that satisfies the following requirements: (a) the limited liability partnership is registered in Singapore under the Limited Liability Partnerships Act (Cap. 163A) and all its partners are citizens; (b) if any partner of the limited liability partnership is another limited liability partnership, that other limited liability partnership satisfies the requirements under paragraph (a); (c) if that other limited liability partnership referred to in paragraph (b) has a partner which is a limited liability partnership, which in turn has a partner which is also a limited liability partnership and so on, all the partners of each such limited liability partnership consist only of any or any combination of the following: (i) citizens; and (ii) limited liability partnerships that satisfy the requirements of paragraphs (a) and (b); and (d) if any partner of the limited liability partnership is a company, that company is a Singapore company;
[...]
PART II - PROHIBITION ON PURCHASE OR ACQUISITION OF RESIDENTIAL PROPERTY BY FOREIGN PERSONS
Prohibition on transfer to, or purchase or acquisition by, foreign persons of residential property
3.—(1) Except as provided in this Act —
(a) no person shall, whether for consideration or by way of gift inter vivos or otherwise, transfer any residential property or any estate or interest therein to any foreign person; (b) no person shall create any trust for sale in respect of any residential property or any estate or interest therein in favour of any foreign person; (c) and no foreign person shall purchase or acquire any residential property or any estate or interest therein except by way of a mortgage, charge or reconveyance. [...]
Flats in buildings and condominiums
4.—(1)  Subject to this section, this Act shall not apply to any transfer to or any purchase or acquisition by any foreign person of any estate or interest in any of the following residential properties: (a) any flat (including any share in land appurtenant to that flat) that is comprised in any building in a development permitted to be used under the Planning Act (Cap. 232) for residential purposes, and that is not a landed dwelling-house; (b) any unit comprised in a development which is shown in an approved plan bearing the title “condominium” and issued by the competent authority under the Planning Act; (c) any unit in a development comprising housing accommodation sold under the executive condominium scheme established under the Executive Condominium Housing Scheme Act (Cap. 99A).
(2)  Notwithstanding subsection (1) but subject to subsection (7), no foreign person shall, without the prior approval of the Minister, purchase or acquire (whether in a single transaction or a series of transactions) — (a) all the flats in every building in a development permitted to be used for residential purposes under the Planning Act; (b) all the units in a development approved by the competent authority under the Planning Act as a condominium development; or (c) all the units in a development sold under the executive condominium scheme established under the Executive Condominium Housing Scheme Act. [...] “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);
[...]
PART III - APPROVAL TO PURCHASE, ACQUIRE OR RETAIN RESIDENTIAL PROPERTY
Application by foreign person for approval to purchase, acquire or retain residential property
25.— [...](2)  Subject to subsection (14), any foreign person who desires to purchase, acquire or retain any estate or interest in any residential property other than non-restricted residential property shall apply to the Minister through the Controller for the grant of the Minister’s approval to acquire or to retain residential property, as the case may be. [...] (6)  Without prejudice to the generality of the powers of the Minister under subsection (4), he may grant approval, with or without conditions, to an applicant, being a foreign company or a foreign limited liability partnership which — (a) in the opinion of the Minister — (i) is of economic benefit to Singapore; or (ii) makes or is able to make an adequate economic contribution to Singapore; and (b) intends to purchase or acquire, or retain any interest in, residential property for the purpose of occupation as a dwelling-house by its executives, managers, partners, employees or other personnel and their families and not for any other purpose.
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PART IV - MISCELLANEOUS
Housing developers
31.—(1)  Except as provided in subsection (4), section 25 shall not apply to housing developers. (2)  A housing developer shall, before he purchases or acquires an estate or interest in any residential property, apply to the Controller for approval to purchase or acquire the residential property.[...] (18)  In this section, “housing developer” means any person, being —
(a) an individual who is not a citizen;
(b) a foreign company, a converted foreign company, a foreign limited liability partnership, a converted foreign limited liability partnership, a foreign society or a converted society; (c) a Singapore company which has not complied with section 10(1); (d) a Singapore limited liability partnership which has not complied with section 11(1); or (e) a Singapore society which has not complied with section 16(1), who or which constructs or intends to construct flats or dwelling-houses for sale, whether or not such person, company, limited liability partnership or society is licensed or required to be licensed as a housing developer under the Housing Developers (Control and Licensing) Act (Cap. 130).[...]" (Residential Property Act, Chapter 274)
Residential Property Act, Chapter 274
[<a href="https://sso.agc.gov.sg/Act/RPA1976">Act</a>]