Information on Singapore Housing and Development Board : Eligible Condition to buy House

I’ve wrote about my visit to Singapore and has been promised to share some information about The Housing and Development Board (HDB) in Singapore.
In this article I’ll share some information about HDB that I get from their broucher.

Singapore Housing and Development Board

Singapore Housing and Development Board (HDB) is the public housing authority in Singapore. It was formed on 1st February 1960 as a statutory board under the Ministry of National Development. HDB’s vision is to build ‘An outstanding organisation with people committed to fulfilling aspirations for homes and communities all are proud of.”

Born amidst an acute housing shortage in pre-independence Singapore, HDB today (untill 2015) houses over 80 percent of the country’s 3.9 million resident population in well-designed apartments located in comprehensively planned housing estates across the island, with about 9 in 10 HDB dwellers owning the flat they live in. Beyond the hardwara of public housing, HDB is also engaged in the fostering of neighbourly bonds and the promotion of community interaction and integration at the grassroots.

HDB has earned much international acclaim for its work, such as garnering the UN-Habitat Scroll of Honour Award in 2010, one of the most prestigious human settlements awards globally. Moving forward, HDB will continue in its mission of providing a high standard of public housing at affordable prices for Singaporean families, supported by a range of comprehensive programmes and policies that are responsive and innovative in meeting the needs of the people.

Home Ownership Scheme in Singapore

The Home Ownership Scheme was introduced in February 1964 to give Singaporeans a stake in the nation. In 1968, home ownership received a huge boost when the Government allowed the use of compulsory savings from the Central Provident Fund (cPF) to buy HDB flats. Today, with eight in ten of the resident population owning HDB flats, the scheme has been successful in contributing to the overall political, economic and social stability of the country.

Eligibility Condition

hdb-singapore

For Families
1. Buying a flat direct from HDB
– 2 Singapore citizens (SCs) or one SC and one Singapore permanent resident (SPR).
– Applicants must be at least 21 years old and form a family nucleus
– Total monthly household income of applicants must not exceed $10,000
– Applicants must not own any private residental property in the last 30 months prior to flat application.

2. Buying a resale flat in the open market with CPF Housing Grant
– Two SCs or one SC and one SPR
– Applicatnt must be at least 21 years old and form a family nucleus.
– Total monthly household income of applicants must not exceed $10,000
– Applicants must not own any private residental property in the last 30 months prior to flat purchase.

3. Buying a resale flat in the open market withou CPF Housing Grant
– Two SCs, or one SC and one SPR or two SPRs
– Applicants must be at least 21 years old and form a family nucleus
– No income ceiling
– Owner of private residential property may apply but they must sell off the private property within six monts from effecive date of purchase.

For Singles
1. Buying a 2-room flat direct from HDB
– Applicants must be SC and at least 35 years old
– Total monthly income of applicants must not exceed $5,000
– Applicants must not own any private residential property in the last 30 months prior to flat application
– Applicants must be first-time home buyers.

2. Buying a resalte flat in the open market with CPF Housing Grant
– Applicants must be SC and at least 35 years old
– Total monthly income of applicants must not exceed :
(i) $5,000 for singles buying under the Single Singapore Citizen (SSC) Scheme
(ii) $10,000 for singles buying under the Joint Singles (JS) Scheme
– Applicants can buy 2,3,4 or 5-room flat types
– Applicants must not own any private residential property in the last 30 months prior to flat purchase
– Applicants must be first-time home buyers

3. Buying a resale flat in the open market without CPF Housing Grant
– Applicants must be SC and at least 35 years old
– No income ceiling
– Owners of private residential property may apply but they must sell off the private property within six months from effective date of purchase

For Elderly buying a Studio Apartment
– Applicants must be at least 55 years old and comprise one SC
– Married couple or single SC are eligible to apply
– Total monthly household income not exceeding $10,000
– Owners of private residential property may apply but they must dispose of the private property before taking keys of the Studio Apartment.

Note

The open market offers a wider choice of flat types and locations. It is an alternative to buying a flat direct from HDB. There is no waiting time. Those who have previously bought a flat direct from HDB are not required to pay the resale levy if they buy from the open market.

Source : HDB Broucher

I’ll share another information about HDB in next entry. This article look too long .

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