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Singapore Housing Options To Suit All
Singapore is one of the few countries in the world that can boast a high standard of living, although it does come at a price, especially for real estate. One of only three city, states in the world, it is the third most expensive Asian city to live in. However, the high standard of hygiene, cleanliness, and top notch urban planning makes it worth the big bucks.
Because living costs are so high, a large portion almost 80 to 85% of the population prefers to live in affordable public housing. The Housing and Development Board HDB plans, builds and maintains large public housing estates, almost like mini towns. These are replete with streets, shopping malls, market places, schools, hospitals and clinics and parks. These houses, called HDB flats are available in 2,3,4,5 rooms with areas of 45 m2, 60 to 70 m2, 90 m2, 110 m2 respectively. There are also executive flats of 130 m2 and studio apartments for those who live alone and want a ready to movein type of place which requires minimum upkeep. These houses are not purchased outright but leased from the HDB for a certain period, usually 20 years or more. Popular HDB estates are Toa Payoh, Clementi, Yishun, Bishan, Woodlands, to name a few.
The good news is that HDB provides housing loans at special, concessionary interest rates to those who fulfill the eligibility criteria. The HDB also has a Housing Priority Scheme for Singapore citizens who fall into certain categories, like First Timers. The Additional CPF Housing Grant also helps citizens buy HDB flats at subsidized rates for the first time. Non-citizens can easily rent any type of accommodation in Singapore including HDB flats
Those who can afford it, find private housing rather attractive and opt to live in condominiums, apartments, town houses, terraced houses or bungalows, each of which offer varying levels of privacy and facilities. The most expensive and luxurious are the condos, with the smallest studio unit a neat 500 sq feet large and penthouses stretching to 8000 sq. ft. These come with facilities like car parking, swimming pools, gyms and 24 hour security. These same facilities are available in townhouses, albeit in the form of joined houses forming part of an estate or condo. Apartments come with a reduced level of comfort and luxury but are similar to condos in their structure and designs. The ultimate in luxury are bungalows, entirely independent units, sometimes 2-3 stories high with private garden and everything else money can buy you! Hoping that you make the best out of it.
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