Singapore’s property landscape is predicted to continue changing to fit the ever transforming needs of our maturing population. Smaller, more expensive homes are set to be the order of the day as the government looks to streamline land supply for private developers and stabilise the property market. These are the property types that continue to define Singapore’s property landscape today: HDBs are Singapore’s staple public housing. HDBs are heavily subsidised by the state, and affordable for most Singaporeans after loans and grants. Since HDBs are meant to provide affordable housing to the local population, only Singaporean citizens (SC) and Singapore permanent residents (SPR) are eligible for buying and renting HDB flats. Executive condominiums (EC) are directed at the sandwiched class. These homes are targeted towards Singaporeans who are not eligible for HDB because they have surpassed the income limit, but are still unable to afford private residential properties. ECs typically include amenities similar to private condos, including gyms, clubhouses, swimming pools and gated security. Singapore’s property also boasts a variety of landed housing, including semi-detached homes, terraced homes, cluster houses, townhouses, shophouses, bungalows and Good Class Bungalows (GCB).
The Ultimate Home Buyer Questionnaire
Get your money’s worth, fast
Yes, but with conditions
Time for a brand-new home?
With all these new and exciting private developments lined up, we’re jumping out of our seats to get a piece of that pie too. But before you start to sell your property, consult this list of things to consider before buying your first private home.
There are 3 main factors to be mindful of when buying a second home – eligibility, affordability and intent. Have you taken all of them into consideration?