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, Fourth Avenue Residences Bukit timah clinics, shopping centers, schools, playgrounds and more. The convenience it promises with amenities in close proximity, along with the ease of transportation are some of why millions today have chosen HDB flats as their number one housing chance. As such, knowing some useful information about Singapore HDB flat for sale will put you in the better position to choose the next property to pick up.
There are a total of 6 HDB flats available for purchase, that 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 this category and require the smallest amount maintenance. They are usually occupied by individuals and hence have built in equipments that are current and an well designed. The 2 bedroom units are supposed to meet the needs of the lower income families, housing about 2 to 3 close relatives each. The three to four room units are targeted towards middle-income family groups, offering space and design for middle-sized friends. 5 room units and executive units end up being largest HDB flats that are able to accommodate large families or extended young families. They have additional bathrooms and living area, and are wonderfully designed to make it possible for all are known to live comfortably together. These HDB flats vary in design and layout, depending on top of the estate’s fixture as well as owner’s individual taste.
Most would agree that living within a HDB flat is like being part closely-knit community. Understanding next-door neighbors and achieving weekly gatherings in the void decks are among 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 should be able to match the respective HDB regulations for your preferred housing unit, and participate in no matter whether Balloting Exercise (BE) or Built To acquire (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 try to get a particular HDB flat at your best location. Other the things which need your attention could include the use of your Central Provident Fund (CPF), Medisave fund levy charges.
These useful details of Singapore HDB flat for sale are critical in assisting you to make a well informed decision regarding HDB flats in the future.