Event Coverage
SILVAR, Global Business Council Diamond Global Achievement Awardee Since 2018, Continues Speaker Series with Singapore
Larry Eu, REALTOR®, MSAE, CCIM, CRRP, CDCDP, CIPS Shares Expoert Insights on Singapore Market
On Thursday, Oct. 16, 2025, the SILVAR Global Business Council event held its last virtual event of 2025: "Understanding Singapore Real Estate," with speaker Larry Eu. During this presentation, Eu provided an in-depth look at Singapore's complex, highly regulated yet consistently profitable property market and its unique appeal, especially to American investors.
Eu, born and raised in Singapore, has had a 25-year career in the real estate industry, stemming from his family's construction business that built early housing in Singapore since the 1970s. Currently, he collaborates with ERA Singapore through his firm ERA NexUS Global, representing about 50 developers whose condo units are available for sale by U.S. Realtor members. He is now based in Bellevue, Washington and owns 8 Street Group, a real estate brokerage specializing in commercial, corporate and global real estate.
Eu explained that despite its small size, Singapore has emerged as a major global financial hub, stating that, "In Q2 2024, U.S. citizens became the largest group of foreign buyers in Singapore's Core Central Region (CCR), the prime downtown area."
He stressed that property investment there is characterized by heavy government oversight, citing laws like the ban on importing chewing gum as an example.
"The same applies to the mortgage and financing landscape in Singapore," he said. "There are a lot of rules just to maintain a healthy property market."
Regulation is maintained through various measures designed to curb speculation and ensure market health. Key taxation rules include the Buyer's Stamp Duty (BSD), ranging from 1% to 6%, and the Seller's Stamp Duty (SSD), which penalizes short-term flips (up to 12% if sold within the first year).
Financing is also regulated through caps like the Total Debt Servicing Ratio (TDSR). "This is capped at 55% of your gross monthly income," Eu explained. "This is to ensure you buy within your means. The benchmark rates for the banks are also very regulated."
The government also employs the Additional Buyer's Stamp Duty (ABSD) to manage demand. For standard foreigners, this rate is a flat 60% on any purchase. However, Eu emphasized a massive advantage for U.S. nationals. Due to the Singapore-U.S. Free Trade Agreement (FTA), he explained that "American citizens are treated like a Singapore citizen when buying their first home in Singapore," meaning they pay 0% ABSD.
Regarding the domestic housing landscape, Eu explained that while high-end condos and luxury landed properties exist, 80% of citizens live in public housing flats provided by the Housing & Development Board (HDB).
"HDB homes are the first stepping stone for a young individual or professional coming into society or getting married," explained Eu. "You can find something that is, say, $300,000, and you can have just a $90,000 down payment and take a mortgage on the rest, so it's very affordable. As your home appreciates in value, you can upgrade in five to 10 years."
At the opposite end of the spectrum are the Good Class Bungalows (GCBs), where supply is limited in designated areas, often costing between what he estimated is valued at about $15 million to $250 million.
Eu concluded by highlighting Singapore's safety, infrastructure and economic stability.
"It is a very safe place to be walking around, even after midnight," he said.
To view Eu's presentation, download the PDF file below.
The Silicon Valley Association of REALTORS® (SILVAR) is a professional trade organization representing over 4,000 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.
The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.
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