Looking for a HDB flat for buying? Have you lately seen any of those properties? Don’t know what to do? Don’t worry! We at www.ExpatsRental.com have been helping our expat clients , to find their dream living spaces, we are here for you also.
Public housing in Singapore is known as HDB (Housing and Development Board). The Board builds and maintains the houses. Around 80-85% of Singaporeans and other communities live in HDB.Sinagapore citizens; Singapore PR and non-citizens may rent a flat or room directly or with help of an agent directly from the HDB flat owners.
HDB also provides subsidized rental flats for the underprivileged and deprived citizens of Singapore. These packages provide the services if the needy is eligible according to their policies and renting schemes.
HDB flats purchasing is not as easy as it seems. There are many things, which you need to decide before you even see a flat.
• What area do you need to buy your flat in?
• How many rooms flat do you need for your accommodation?
• What is your budget?
• How far is your office?
• Is there a school nearby? i.e. if you have a school going child.
• Which mode of public transport is available in the vicinity?
• How far is the centre city and how many shopping centers are nearby?
Foreigners holding Singapore 'Permanent Residency' or 'Citizenship' status can also purchase HDB apartments directly from the government or through the-sale market.
To qualify for the HDB scheme:
• Applicant must either be a Singapore citizen or PR with at least one other sibling who is a PR.
• Applicants must be at least 21 years old.
• Applicants must form a family nucleus – either married or intending to get married; or with parents, siblings and/or children.
• The combined income of all persons in the application must not exceed S$8,000 a month in order to qualify for CPF Housing Grant.
The HDB flats come in the segregation of 2,3,4,5 and 6 bedrooms. The living lounge is also counted as a room. So the rates of these flat depend upon their location and size. These flats are designed for the safety of the community. HDB towns are provided with various commercial, recreational, and community facilities and services for the ease of the residents. Therefore the newer HDB designs are there to bring new features and facilities and improvements of older designs to meet the needs of their clients with changing times.
If you want to sell your HDB flat, you have to meet up with the eligibility to sell:
• Flat owners have to complete the minimum occupation time before they can finally offer their flat to be sold.
• You have to meet the prescribed limits of the EIP
• All financial payments should be settled before the completion of the resale transaction, and they are :
1. Outstanding mortgage loan
2. Resale levy
3. Upgrading cost
4. Upgrading levy
5. Property tax
6. Service & conservancy charges
• Flat owners must regularize any unauthorized renovation before the resale. It could affect your lease infringements.
• Take note of the CPF rules
If you are fulfilling the buying and selling criteria, then it wont be a problem for you to get through with your dealings. The rest, Expats rental is here to help you through your property dealings and much more.