Flats for Single Singaporeans | HDB Flats for Singaporean Citizens

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From selecting a BTO unit to acquiring a resale flat. If you’re 35, unmarried, and Singaporean, here’s how you can own your own HDB flat. We give you a guide on HDB flats for single Singaporeans. 

What exactly is HDB?

The Housing & Development Body (HDB), a statutory board under the Ministry of National Development (MND), is Singapore’s housing authority in charge of planning and providing affordable public housing for Singaporeans. Since its inception on February 1, 1960, HDB has built nearly one million residences, housing 80 percent of Singapore’s population. To meet a variety of housing demands and budgets, the HDB presently offers three 99-year lease housing alternatives to Singaporeans: Build-To-Order (BTO), Design, Build and Sell Scheme (DBSS), and Executive Condominiums (EC).

Related – Home Loans in Singapore 

HDB flats for single Singaporeans

New Regulations

Singapore has announced new property cooling measures that will take effect on December 16th, 2021: higher ‘Additional Buyers Stamp Duty’ (ABSD) rates and tighter lending limitations. It is vital to remember that the highest relevant ABSD will apply to such purchases done jointly by two or more parties of different profiles. In terms of tighter loan limitations, the barrier will be raised from 60% to 55%, which means that new mortgages cannot lead borrowers’ total monthly loan repayments to surpass the new 55% of monthly income.

In September, HDB launched a slew of new initiatives to assist first-time buyers of new and resale flats. The following measures have been in force since September 11, 2019:

Income thresholds for both families and singles to qualify for HDB housing grants have been raised

The previous Additional and Special CPF Housing Grants will be replaced with a new Enhanced CPF Housing Grant (EHG) (AHG and SHG).
Eligible first-time buyers can take advantage of the EHG when purchasing new or resale flats, regardless of flat type or location.

Increased income limits for families and singles

The monthly household income ceiling for eligible first-time HDB unit buyers aged 35 and above would be increased from S$6,000 to S$7,000. Eligible singles can use the CPF Housing Grant for Singles to purchase new two-room Flexi flats or resale flats (up to 5-room) on the open market. That’s great news if you’re single and your next goal is to get your own HDB flat. You can finally evade your folks’ probing queries. You can also move up another rung on the #adulting ladder.

In addition, HDB will boost the monthly household income ceiling for first-time families purchasing new or resale HDB flats from S$12,000 to S$14,000.

HDB flats for single Singaporeans

What exactly is an Enhanced CPF Housing Grant (EHG)?

The EHG will take the place of two former programs, the Additional CPF Housing Grant and the Special CPF Housing Grant. Your EHG amount will be determined by your income bracket. The larger the gift, the less you earn. The EHG amount for first-time singles purchasing new or resale flats under the Single Singapore Citizen Scheme will be up to S$40,000 (eligible household income ceiling raised to S$4,500) and up to S$80,000 for first-timer families or singles purchasing new or resale flats jointly (eligible household income ceiling raised to S$9,000).

Is the Enhanced CPF Housing Grant available?

Applicants or their spouses must have been consistently working for at least 12 months to be eligible for the EHG, as with other HDB programs such as the Special CPF Housing Grant. They must also purchase flats that they can live in till the age of 95 (based on HDB’s maximum 99-year lease). Those whose flats do not satisfy this requirement will have their subsidies prorated based on the extent to which the remaining lease on the flat can cover them until that age.

What are the conditions for singles to be eligible for HDB?

To begin, you must be a Singapore citizen of at least 35 years of age to apply as an unmarried or divorced individual. The sole exemption is if you are an orphan with no siblings; you may apply for your own flat under the Orphan’s Scheme when you turn 21. Unrelated singles citizens 35 years and older can also apply jointly for an HDB flat; under the Joint Singles Scheme, up to four such individuals can co-own a flat.

The Ethnic Integration Policy (EIP) and Singapore Permanent Resident (SPR) quotas are the additional eligibility requirements (used to encourage and maintain social cohesiveness). This, however, is more likely to have an impact on the location of your flat rather than operate as a barrier to your eligibility to apply for one.

HDB BTO 2-Room Flexi Flats are less expensive yet smaller in size

The major financial benefit of purchasing a BTO flat is that they are substantially less expensive than those on the resale market. Unmarried individuals, on the other hand, are limited to 2-room* Flexi units in non-mature estates only, even if there are many co-applicants. The overall floor space of such units ranges from 35 sqm to 49 sqm, with 1 bedroom and 1 living room.

A 2-room flat is obviously small, but if you apply for one under the BTO scheme, you’ll obtain a brand-new apartment that you may alter to fit your needs. The current 36 square meter variant, for example, includes a sliding partition instead of a solid wall, allowing you to create an open floor plan apartment.

Resale apartments are much more expensive, but they are available right away

If you don’t want to the ballot (and wait) for a 2-room Flexi HDB BTO flat, you can hunt for a suitable apartment on the resale market. Singles, whether singly or jointly, can buy any sort of HDB resale they want, as long as they can afford it. The primary downside of purchasing a secondhand apartment is the price. The smallest resale HDB flat you can probably buy right now, and for the next, 30 years or so, is a 3-room unit. (HDB flats have a minimum occupation duration of 5 years, and with current supply not yet meeting demand, it’s unlikely that any 2-room apartments will be available on the resale market anytime soon.)

The prices of HDB resale flats have been progressively falling down, thanks to government cooling measures. This has made resale flats more affordable to most single buyers. However, a 3-room HDB resale property should still cost between S$238,000 and S$407,000.

Owning your own home in Singapore is a major decision because of the amount of money involved. Whether you receive an apartment at 35 under the Singles Scheme or the Joint Singles Scheme, it is critical to read the eligibility conditions for each scheme. By being aware of the grants and loans available to you, you may be able to reduce the costs of acquiring your own house, allowing you to fully enjoy the independence that comes with being a homeowner.

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