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Housing In Singapore :

Renting or purchasing a property in Singapore is pretty much like renting or purchasing a property anywhere else in the world, it's probably going to be messy, confusing and tedious. Hopefully the following will be of help to you in this odious, but necessary, little chore.

First, an obvious point, but still one worth mentioning: It's perhaps best to rely on the recommendations of friends and colleagues who've been "in-country" for a while and have developed their network of contacts to encompass trustworthy people who have solid knowledge on the real-estate market here. If you're a "fresh" expatriate, it may be beneficial to ask your company for information on this matter, the insights that you gain will obviously negate a lot of the hassle you'd otherwise have to go through.

However… if you have no friends… and your company doesn't care about you all that much… then read on…

 

Price is the obvious first consideration. Clearly define how much you are willing to spend (or your company is willing to spend on you). Consider this carefully and plan accordingly. As you would expect, prices on properties will differ mainly based on location, facilities and proximity to transport systems.

However there may be other considerations as well, such as whether or not the location is a high-profile, affluent one or whether or not the property offers a spectacular sea view instead of a single window facing a bus-stop in Geylang. Lets start with Public Housing…

Public housing in Singapore.

The vast majority of Singaporeans, over 85%, live in (and own) public housing, built by the Housing and Development Board (HDB). These flats / apartments are known as HDB Flats. These are basically townships located all over the island which are pretty much self-contained with integrated shopping malls and supermarkets, medical facilities, schools and recreational facilities. Most of the islands public transport infrastructure is built around these townships with bus and MRT / Subway stations a stones throw away.

Buying Public Housing

Expatriates are allowed to rent any of these properties, however, there are certain criteria if an expat wants to BUY a property. These are:

  • Qualified and / or experienced non-residents and PRs (Permanent Residents) with knowledge or skills beneficial to Singapore may purchase residential property. The same goes for PRs and non-residents who make economic contributions to Singapore.
  • Unless in a specifically approved building, only residential properties located in buildings six storeys and higher may be purchased.
  • If you desire to purchase a property that satisfy neither of the criteria in the second condition, then approval from the following government department is required:

Land Dealings (Approval) Unit
No. 8 Shenton Way
#27-02 Temasek Tower
Singapore 068811
Tel: 6323 9829
Fax: 6323 9937

The prices of Public Housing will run around $100,000 - $150,000 or higher depending on the property and its location and condition. Check with a reliable agent to get the best deal you can. As of late less Singaporeans are buying these flats since most already have one, and prices are rather steep in comparison with other comparable, or better alternatives available on the market. So they're quite available, if you want one that badly.

As far as other technical details, such as methods of payment, loans, taxes and insurance you'll need to check with the relevant real-estate agents, banks and government department for your specific property.

If you're going to RENT a property, then here are some guidelines.

Renting Public Housing.

HDB Flats come in 5 categories, the 2,3,4 and 5 room types and the Executive Apartment, it's worth noting that "room" includes the living room, so a 2 room flat means there's one living room and one bedroom. HDB flats are probably the most easily available and are also probably the best choice for the burgeoning expatriate in Singapore. As a rough guide:

Category

Description

Two-Room 45 square metres
1 bedroom, 1 living room and
1 bathroom attached
Three-Room 65 to 75 square metres
(880 square feet)
2 bedrooms, 1 living room,
1 kitchen and 2 bathrooms

Four-Room 90 to 100 square metres
(1000 square feet)
3 bedrooms, 1 living-cum-dining room,
1 kitchen and 2 bathrooms
Five-Room 110 to 120 square metres
(1200 square feet)
3 bedrooms, 1 study room
1 living room, 1 dining room
1 kitchen and 2 bathrooms
Executive Apartment 140 square metres
(1400 square feet)
Amenities similar to the 5-room flats but are roomier

Approximate prices for the rental of HDB Flats are varied and depend on location and facilities and whether or not it's furnished. Ballpark figures range from about $800- $1000 for a 3 room to $1400-$1500 or more for a 5 room. Executive Apartments will cost roughly a couple hundred more. Room rentals will be about a third or so of these prices. Buying a flat is rather expensive and comparable to private condominiums with good facilities ($100,000-150,000 or more).

Note that these prices apply only if you're renting from the HDB or the Jurong Town Corporation (JTC); the official government sources. The government is trying to encourage more qualified expats to live and work in Singapore, so these prices are somewhat cheaper than if you were to rent directly from a flat owner. The problem here is that demand outweighs supply if you're looking to rent from the government, consequently choices are greatly limited.

Renting from private owners is also possible, but regrettably just as scarce, try your best to find an owner who has legitimately acquired approval from the Housing Board to rent. Otherwise you may run into legal problems later on. Prices tend to be steeper by about $300-$600, but unlike the government private owners are far more willing to negotiate, and frequently you may not really have a choice because these flats may be ideal, location wise.

SHiFT scheme.

Yet another option for expats is SHiFT, the Scheme for Housing of Foreign Talent run by the Jurong Town Corporation (JTC). These HDB flats are even cheaper than what the government normally charges by roughly $200 or so plus monthly conservancy / service charges (varies from $50+ to $80). They come normally come unfurnished but JTC can provide furnishing for a fee. Tenancy term is 2 years and you cannot sublet these flats. However, you must meet some or all these requirements:

  • Be at least 21 years of age
  • Hold an Employment Pass
  • Be a Permanent Resident
  • Hold an S-Pass
  • Possess a Work Permit (other than construction workers)
  • Be a foreign student
  • Apply with your spouse and children
  • Apply with other eligible applicants
  • Must not own any private residential property in Singapore

In order to apply, you will need to acquire the necessary forms from the JTC or the HDB:


Housing & Development Board
HDB HUB, 480 Lorong 6 Toa Payoh,
Singapore 310480
Tel: (65) 6490 1111
Fax: (65) 6490 1033 local (65) 6397 2070
Website: http://www.hdb.gov.sg/
Email: hdbmailbox@hdb.gov.sg.

JTC Corporation
The JTC Summit
8 Jurong Town Hall Road
Singapore 609434
Hotline: 1800-5687000
Tel: (65) 65600056
Fax: (65)65655301
Website : http://www.jtc.gov.sg/
Email : askjtc@jtc.gov.sg

The completed forms, along with any necessary documents must then be sent to the JTC for processing and approval. Applications for utilities may also be done on-site at the JTC.

Regardless of who you rent from, general guidelines on rent structure is basically a 1 or 2 year lease and a 2 or 3 month rent as a deposit. Of course depending on the individual landlord, location and property, these may vary.

Private Property.

In simple terms, these are properties which are not built and developed by the government, but by private concerns. Consider the limited land area of Singapore, the affluence of the state and its citizens and the effect this would have on real estate prices.

Buying Private Property.

Expect to pay between $400,000 to well upward of $600,000 for a private (non-HDB) apartment depending on size, location, condition of the apartment and the security / recreational facilities it offers, available amenities such as public transport infrastructure, whether it's a freehold or leasehold property and market price fluctuations based on demand.

If you're planning to buy a big, fully furnished bungalow with nice, extensive gardens and large, spacious rooms… prepare to pay a whole LOT more, somewhere in the region of a few million dollars.

Guidelines for purchasing private properties are very similar to the guidelines provided for purchasing public housing outlined above.

We've said it before and we'll say it again, get a good, reputable and reliable agent for this, it's a big investment and you'll need all the information you can get.

Renting Private Property…

… Is far more expensive than Public housing as expected, but you get better quality homes and surroundings, better creature comforts and furnishings. While the higher end Public housing flats and Executive Apartments are comparable, anything below the 4 or 5 room category is not.

The following is another rough guide to property rental prices in Singapore, this time for Private apartments:

Location

Size

Rental Rates

Prime areas (Upscale) 800 - 1,300 sq ft
1,300 - 2000 sq ft
2000+ sq ft
S$3,000 - S$4,000
S$4,000 - S$6,000+
S$6,000+
Other areas 800 - 1,300 sq ft
1,300 - 2000 sq ft
2000+ sq ft
S$1,500 - S$2,500
S$2,500 - S$4,000+
S$4,000+

By definition Prime areas are districts which are more affluent and "up-market" much like Beverly Hills in LA, the 16th District in Paris or Kensington in London, where the rich and famous hang out. Prime areas in Singapore would be Orchard Road, Bukit Timah, River Valley and Holland Road. On the highest end of the scale, you can rent a large bungalow at between over $20K to over $60K if you're getting a huge paycheck every month.

Note that these are approximate prices, and what you may find while looking around may be quite different. Being Private properties, the prices are up to the whims of their owners and dictated primarily by market forces, so take everything written here with a pinch of salt. Needless to say, since you're dealing with individuals you may not know too well, exercise caution at all stages of any transaction, paying particular attention to the legal aspects and the fine print.