Real Estate Scheme
The Real Estate Scheme covered smaller developments than the IRS, on plots under ten hectares, and was the route through which many boutique villa and apartment projects were approved before 2015. Like the IRS, it is closed to new projects but remains relevant for resale.
At a glance
| Status | Closed to new projects. Resale units available |
|---|---|
| Residence permit | At USD 375,000 and above, for the buyer, spouse and dependent children, while the property is held |
| Registration duty | 5% of the purchase price, paid by the buyer |
Who it suits
A buyer looking for a completed property in a smaller, quieter development, often close to the coast in the north or west, at a price point below the large resort estates. Many RES developments are well located and well maintained, and the resale market is active.
How the purchase proceeds
The buyer's EDB application, the notarial deed and registration, with due diligence on title, syndicate charges and the condition of the property. We act for the buyer with the notary throughout.
Before you reserve
The buyer's position is decided at signature, not afterwards. If you are looking at a development, speak to us before the reservation deposit is paid and we will tell you what to examine.