What is the real estate model in Singapore?
The main real estate models are as follows.
1. A three-bedroom HDB flat, which is two bedrooms, two bathrooms, a kitchen and a living room, with an area of about 70 square meters.
2. A four-room HDB flat with one more room, but the living room is not very big, with an area of about 90 square meters.
3. Five-room HDB, also three bedrooms, but the hall is larger, equivalent to an additional dining room, with an area of about 100 to 110 square meters.
4. EA, with a larger area, between 110 and 150 square meters.
5. EM is a duplex structure with two floors, some with four rooms, usually three bathrooms, and an area of 130 to 150 square meters.
There are supporting facilities, such as sports facilities, small parks, multi-story parking lots, supermarkets, shopping malls, bus interchanges, etc.
If it is a large community, there is a light rail for residents to get around.
What is the policy of buying a house in Singapore?
1. Only citizens or permanent residents are allowed to buy condominiums, but there are some regulations.
For example, a new condominium can only be purchased by a citizen, or a couple where one spouse is a citizen and the other is a permanent resident.
The price of a new apartment is not high. If it is a first time purchase, you can also apply for a government subsidy of S$30,000.
If you buy a condo close to your parents, you can apply for a higher subsidy, but you must be a couple to buy a house.
If you're single, you'll have to wait until you're 35.
If you are a permanent resident, you can also buy a HDB flat, but you must buy a HDB flat on the market, so the price will be slightly higher, but also much cheaper than a condominium.
If you are a foreigner, you can only buy an apartment building, which is very expensive.
2. The price of HDB flats is set by the government and is priced based on the housing portion of the CPF that can be afforded.
It is the government's goal that a person can use the CPF to buy a government apartment for the first time when he or she gets married after five years of employment.
There is also the fact that 90% of people can buy a three-bedroom apartment and 80% of people can buy a four-bedroom apartment.
A person can enjoy the government subsidy for buying a condominium twice in his or her lifetime.
HDB flats can be traded in the secondary market or you can trade in your big house for a smaller one when you are old and the appreciation in value can supplement your personal provident fund.
3. The Singapore government has a strict vetting system for buyers' qualifications and sets strict entry requirements.
The allocation procedures and hierarchy ensure that the allocation of HDB flats is open, fair and equitable.
According to the Singapore government, a family can only own one condominium. If it wants to buy a new house, the old HDB flat must be withdrawn to prevent people from speculating.
For those who buy and rent fraudulently, the person will face a fine of up to S$5,000 or 6 months imprisonment, or both.
Can I buy a home in Singapore for immigration purposes?
Buying a house in Singapore is not the same as immigration because buying a house is usually bought from a Singaporean developer or a private person, and the residence permit belongs to the Singaporean government, which belongs to two completely different departments, so buying a house is not the same as immigration.
