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Housing And Development Board
The Singapore Housing and Development Board abbreviated as HDB is said to be the best government-run public housing model globally. The quality of the services offered therein is way beyond what is offered in America. Every public housing is governed by the Housing and Development Board, and most residential houses fall under the public housing scheme. Because of pooling of funds, housing in Singapore has been made a lot cheaper than in any other nation in the region. This way, over 95% of the populations therein own their own houses.
The Housing and Development Board has a flexible eligibility scheme which sets the rules and regulations that govern buying and renting of houses in Singapore. The general rule for local residents, citizens and foreigners is that no one can purchase a house or a flat if they are below the age of 21. For instance, a single person who is above the age of 35 qualifies to buy and own a house, flat or apartment based on the Single Singapore Citizen Scheme. Also, if you fall under that category but you cannot afford to buy a whole house or flat on your own, you are allowed under the Joint Singles Scheme to jointly purchase the said property with not more than three other applicants to make a maximum of four joint applicants.
Besides age being the major qualification, the condition that must be met for you to be allowed to apply for an advertised house or flat in Singapore is that you must either be a Singaporean citizen or have permanent residence. However, if you do not fit in either of the two categories, all is not lost. You are allowed to apply for purchase of the property under the Public Scheme, which allows you to make the purchase on condition that one of your co-applicants must be an immediate family member.
This member must be a permanent resident of Singapore or a citizen of the same. Also, there is a tailor made scheme that permits you to apply for purchase of a flat or a house in Singapore with a fiancé or a fiancée who must be a citizen of Singapore or a permanent resident of Singapore. This scheme goes by the name Fiancé/Fiancée Scheme.
A Non-Citizen Spouse Scheme is made for those who are above 35 years and whose spouse is a Singaporean citizen or a permanent resident of Singapore, and they have not been married for less than six months. What's more, if you are above the age of 21 and you happen to be a Singaporean citizen whose family members are non-citizens, then the Housing and Development Board has a Non-Citizen Family Scheme under which you can freely purchase a house or flat.
The above mentioned are not the only packages offered by the Housing and Development Board. There are many other schemes that cover special groups of people like the Orphans Scheme (this enables two single sibling orphans who are Singaporean citizens to apply for a purchase), the Conversion Scheme, the Citizen / Permanent resident Siblings Scheme (as the name suggests, it allows two siblings who are Singaporean citizens or permanent residents to buy property together), amongst others.
Billy Chen
CEA Registration Number : R029372I
Tel: (+65) 88689999
Fax: (+65) 64021826
billy@billychen71.com
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