The Housing & Development Board (HDB) is Singapore's public housing authority. Its aim was to resolve housing shortage issues after Singapore gained independence in 1965, building flats mainly for rental by low-income groups. Today, HDB flats have become the most sought after properties in Singapore as they are comparatively affordable. HDB estates are self-sufficient with facilities such as supermarkets, clinics, shopping centers, schools, playgrounds and more. The convenience it promises with amenities in close proximity, coupled with the ease of transportation are some of the reasons why millions today have chosen HDB flats as their number one housing option. As such, knowing some useful information about Singapore HDB flat for sale will put you in a better position to choose the next property to purchase.
There are a total of 6 HDB flats available for purchase, all of which undergo regular upgrading works to ensure that amenities available are able to meet the needs of its people. They are Studio Apartments (SA), 2,3,4,5 room units and executive units.
Studio Apartments are the smallest of its kind and require the least maintenance. They are usually occupied by the elderly and hence have built in equipments that are up to date and an easy to use. The 2 bedroom units are designed to meet the needs of the lower income families, housing about 2 to 3 family members each. The 3 to 4 room units are targeted towards middle-income family groups, offering space and design for middle-sized families. 5 room units and executive units are the largest HDB flats that are able to accommodate large families or extended families. They have additional bathrooms and living area, and are wonderfully designed to ensure that all are able to live comfortably together. These HDB flats vary in design and layout, depending on the estate's fixture as well as the owner's individual taste.
Most would agree that living in a HDB flat is like being part of a closely-knit community. Getting to know next-door neighbors and having weekly gatherings at the void decks are some of the reasons why adults and kids alike enjoy being a resident of their estate.
There are various criteria to fulfill in order to qualify as an applicant for a HDB flat. You need to be able to fulfill the respective HDB regulations for your preferred housing unit, and participate in either a Balloting Exercise (BE) or Built To Order (BTO) process. In short, the BE involves interested buyers balloting for existing HDB flats, whereas the BTO process involves interested owners of a preferred location submitting tender for construction of that estate. You should check the various government websites to ensure that you are eligible to apply for a particular HDB flat at your preferred location. Other things that need your attention could include the use of your Central Provident Fund (CPF), Medisave fund levy costs.
These useful information about Singapore HDB flat for sale are critical in helping you to make a well informed decision regarding HDB flats in the future.
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