Different types of Properties in Singapore you can purchase and call your Home
Singapore boasts a diverse and well-developed housing landscape, catering to the varying needs and preferences of its residents. From public housing to private condominiums and landed properties, the city-state offers a wide array of options for individuals and families seeking a place to call home!
Public Housing (HDB and BTO Flats)
Public housing, is a type of residential development managed by the Housing and Development Board (HDB). HDBs forms the backbone of Singapore's residential landscape and around 80% of Singaporeans live in HDB flats. You can either purchase a Resale HDB from the open market or a BTO Flat directly from HDB. The HDB flats come in different sizes in different locations to accommodate various household compositions:
2-room Flexi Flat: Ideal for smaller households or the elderly, these one-bedroom units range from 36 to 45 sq m and include a bathroom, kitchen, and a storeroom-cum-shelter.
3-room Flat: Designed for households with one child, these two-bedroom units of approximately 60 sq m feature an ensuite bathroom, a common bathroom, kitchen, living area, service yard, and a storeroom-cum-shelter.
4-room Flat: Tailored for families with children, these three-bedroom units span about 90 sq m and offer amenities such as ensuite and common bathrooms, kitchen, living area, service yard, and a storeroom-cum-shelter.
5-room Flat: Providing ample space for larger families, these three-bedroom units cover approximately 110 sq m and include ensuite and common bathrooms, kitchen, living area, service yard, and a storeroom-cum-shelter.
3Gen Flat: Exclusively for multi-generational families, these four-bedroom units (115 sq m) feature two ensuite bathrooms, a common bathroom, kitchen, living area, service yard, and a storeroom-cum-shelter, with a household monthly income limit of $18,000.
Executive Flat: Spanning around 130 sq m, these three-bedroom units come with ensuite and common bathrooms, kitchen, living area, dining area, a storeroom-cum-shelter, and potentially space for a study and/or balcony.
DBSS (Design, Build, and Sell Scheme): Initially aimed at bridging the gap between HDB flats and private properties, this scheme, involving public housing built by private developers, has been indefinitely suspended after the launch of only 13 projects.
HUDC (Housing and Urban Development Company): Introduced in 1974, the HUDC scheme led to the construction of flats in the 1970s and 1980s by the Housing Development Board (HDB). Designed for middle-income families earning between $1,500 and $4,000, these HUDC flats were larger and located in exclusive areas, resembling private condominiums. However, due to declining demand, HUDC flats were phased out in 1987.
Public-Private Hybrid (Executive Condominiums)
Executive Condominiums (ECs) are developed and sold by private developers, offering amenities similar to private condominiums. However, they are more affordable as the government partly funds their land cost. ECs are subjected to HDB rules for the first 10 years such. You can only sell your EC to a Singaporean Family after 5 years and you are only able to sell it to a Foreigner after 10 years. From the 11th Year, an EC effectively gets “privatized” and it treated as a private flat. Similar to the concept of BTOs, the value of ECs generally grows over the first 10 years because you are purchasing it at a subsidized rate from HDB. This means that when the property hits its 11th year, more often than not, the capital gains from an EC is usually higher than a resale private condo.
Non-landed Private Properties
Private condominiums, privately owned from the start, provide a luxurious living experience with amenities like gated security, gyms, swimming pools, and sports facilities. Apartments, while part of smaller residential projects with fewer amenities, are generally more budget-friendly compared to private condos.
Landed Housing
Landed properties offer a sense of exclusivity and space. It is usually the most expensive type of Real Estate to purchase in Singapore. Most Landed properties are Freehold but there are also some that are Leasehold. Singaporens can freely purchase landed housing as long as they can afford it but a foreigner who wishes to purchase a landed residential property is required to seek approval with the Land Dealings Approval Unit (LDAU) under the Residential Property Act.
Semi-detached Houses: Single-family residences sharing a common wall with similar units.
Terraced Homes: Single-family residences arranged in rows, sharing walls and appearances.
Cluster Houses/ Townhouses: Landed properties (terraced, semi-detached, or bungalows) built in clusters with shared communal amenities like gyms and swimming pools. These are very similar to high rise condominiums but unlike condos, they are a cluster of Landed Units rather than apartment units.
Shophouses: Combining heritage and functionality, these terraced homes usually have commercial spaces on the first floor and can serve as offices, hotels, or residences on upper floors.
Bungalows: Stand-alone one or two-storey homes without shared walls, ranging from 400 to 1,400 sqm with a minimum width of 10m, following URA guidelines. Typically two stories high, detached, and featuring a broad veranda, these exclusive homes are associated with affluence. Prices can anywhere around $2 million to over $70 million.
Good Class Bungalows (GCB): Larger and more luxurious than standard bungalows, GCBs boast expansive land areas over 1,400 sq m, featuring lush gardens, swimming pools, and other opulent amenities. GCBs are the holy grail of Properties in Singapore coveted by many who can afford to hefty purchase price and maintenance costs. The average price of a GCB in Singapore is about $28 Million while the current most expensive GCB ever sold as of 2019 in Singapore costs a whopping $238 Million Singapore Dollars.
Singapore's diverse housing options reflect a thoughtful approach to urban planning, ensuring a mix of affordability, functionality, and luxury for its residents.
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