The Housing & Development Board (HDB) is Fourth Avenue Residences 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 reasons 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 within a better position to choose the next property to get hold of.
There are a total of 6 HDB flats available for purchase, that undergo regular upgrading works to ensure that amenities on offer are able to meet the requirements of its people. They are Studio Apartments (SA), 2,3,4,5 room units and executive units.
Studio Apartments would be smallest of its kind and require the least maintenance. They are usually occupied by older people and hence have built in equipments that are well informed and an easy to use. The 2 bedroom units are intended to meet the needs of the low income families, housing a couple of to 3 households each. The three or four room units are targeted towards middle-income family groups, offering space and design for middle-sized familys. 5 room units and executive units end up being largest HDB flats that are accommodate large families or extended home owners. They have additional bathrooms and living area, and are wonderfully designed to take care that all are in a position live comfortably together. These HDB flats vary in design and layout, depending regarding the estate’s fixture as well as owner’s individual taste.
Most would agree that living from a HDB flat is much like being part of their closely-knit community. Learning the needs of next-door neighbors and having 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 have to be able to match the respective HDB regulations for your preferred housing unit, and participate in 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 this kind of a particular HDB flat at all location. Other the things which need your attention could include the usage of your Central Provident Fund (CPF), Medisave fund levy charges.
These useful info regarding Singapore HDB flat for sale are critical in helping you to make a kept informed decision regarding HDB flats in long term.