What is non-restricted residential property under the Residential Property Act?
A foreign person is not restricted from acquiring: • Any apartment within a building; • Any unit in an approved condominium development under the Planning Act; and Note: A foreign person is not allowed to acquire all the apartments within a building or all the units in an approved condominium development without the prior approval of the Minister for Law. • A leasehold estate in restricted residential property for a term not exceeding 7 years, including any further term which may be granted by way of an option for renewal.
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