Buying A House in Singapore
The writing provided here is on ‘as-is’ basis and may not be 100% accurate or correct. Everything written down here is solely based on my own experience and knowledge. Please check to the official website or consult with the appropriate agency/consultant whenever applicable and needed.
I will not be held responsible for any loss or damages or anything else caused by reading and following my post here.
Here are terms usually found during house-looking:
HDB flat – A public house governed and made by HDB
Type of house
- HDB flat: A public house governed and made by HDB, usually in form of apartment.
- DBSS flat: recently heard about this, but turned out it was introduced back in 2005, a public house governed by HDB but made by private developer. DBSS is short for Design, Built and Sell Scheme.
- Condo (or Condominium): A private house managed and made by private developer.
- Executive Condo (or EC): just like condo, made by private developer, but the first 10 years is managed by HDB, after that (11th year and beyond) it will be just like condo. New EC is sold with subsidised price from HDB.
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Minimum Occupancy Period (MOP)
Certain types of house here in Singapore has minimum occupancy period before they can be sold to the open market as a resale house.
Here they are:
|HDB||5 years from purchase date|
|DBSS||5 years from purchase date|
|EC||5 years to sell to SC/SPR from TOP|
|10 yeas from TOP to become private housing, can sell to anybody|
|Who can buy|
|HDB||New HDB Flat||Yes|
|Resale HDB Flat > 5 years||Yes||Yes, after 3 years obtaining SPR|
|DBSS||New DBSS Flat||Yes|
|Resale DBSS Flat > 5 years||Yes||Yes, after 3 years obtaining SPR|
|Resale EC > 5 years but <= 10 years||Yes||Yes|
|Resale EC >= 11 years and beyond||Yes||Yes||Yes|
|HDB||New HDB Flat||Plenty of schemes|
|Resale HDB Flat > 5 years||Plenty of schemes||Public scheme, form a family nucleus|
|DBSS||New DBSS Flat||Plenty of schemes|
|Resale DBSS Flat > 5 years||Plenty of schemes||Public scheme, form a family nucleus|
|EC||New EC||Plenty of schemes|
|Resale EC > 5 years but <= 10 years||Plenty of schemes||Single can|
|Resale EC >= 11 years and beyond||Plenty of schemes||Single can||Single can|
|Condo||New Condo||Plenty of schemes||Single can||Single can|
|Resale Condo||Plenty of schemes||Single can||Single can|
SPR Quota and EIP
To be furnished again later.
Price and Premiums to Pay
Steps to Purchase
What mostly first time buyer don’t know
To be furnished again later.
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