The majority of Singaporeans (around 80% of the population) live in public housing. These units are managed by the HDB (Housing Development Board) Singapore. The remaining population lives in private housing such as apartments and condominiums. Between these 2 options, as well as commercial properties, this gives those looking for property in Singapore several options.
HDB Singapore
The HDB properties are considered public housing and offer the Singaporeans a full community experience with access to supermarkets, schools, clinics, and recreational facilities. There are 28 different HDB properties called ‘districts’ and each carries with it a distinct personality and community. Each district has a few regions (HDB properties) within it.
To qualify for housing under HDB Singapore, you must meet certain income restrictions that are defined for each type of floor plan (i.e. 2-room flats, 3-room flats, and up to 5-room flats, etc.). In addition to HDB flats, they also offer studio apartments. Another requirement is that the individual purchasing the HDB flat should be a Singaporean citizen, and they should also be at least 21 years old at the time of submitting their application.
For people opting to buy a studio apartment, these individuals must be 55 at the time of submitting their application. Another option offered is the executive condominiums. These are designed to be for those individuals who are qualified to purchase more than an HDB flat, but cannot quite afford private housing. HDB properties are also available for rent.
Private Housing
For those who can afford more than HDB housing, their option is to buy private housing property in Singapore. One type of private housing that is available is a condominium. A property is considered to have ‘condominium’ status when the development is 40,000 sq ft and above. Community features such as a BBQ area, pool, and gym should also be included for it to be considered a condominium. Condos and apartments can as small as 500 sq ft and as large as 8000 sq ft. They also typically come with security features.
Under private housing, you can also purchase landed properties or apartments. Apartments differ from condos by having land area that is less than those of apartment developments. A landed apartment is a house with gardens attached. These landed homes include housing such as:
- Semi-detached. These are 2 houses joined side by side.
- Bungalow. These are single unit homes with no shared walls, but possibly a shared fence.
- Terrace. Terrance homes are rows of houses attached side to side.
Commercial Real Estate
If you’re looking for commercial property in Singapore, there are a few options as well. A unique alternative to high tower commercial properties is called shophouses. Shophouses have historical value and are typically owned by families.
- Shophouse. These are properties that combine shops and housing. The bottom level is for shops joined side by side, and the top level is built for housing.
- Factory. These are properties that are used for industrial purposes.
- Restaurant/Lounge. These commercial properties are designed for business occupants who have either a restaurant, café, or lounge business.
- Office. Office properties are commercial properties that are located inside shophouses or commercial buildings.
- HDB Shop. The HDB shop properties are commercial properties located within a HDB block.
If you’re looking for property in Singapore, you have a huge selection. All residential housing falls under the HDB Singapore or private housing. There are income guidelines for the HDB flats and private housing options include apartments, condominiums, and landed properties. There are also a number of different choices when it comes to commercial properties. So if you’re looking for either or both residential and commercial properties, Singapore has what you need.