Yishun
Besides the above, note that you are subject to the usual restrictions of HDB flats that apply to everyone. This includes an income ceiling of $14,000 per month, the five-year Minimum Occupation Period (MOP), and not owning any other property locally or overseas.
However, there are no restrictions on flat size or location, if you buy a resale flat. Also, keep in mind that there’s no income ceiling for resale flats.
Available grants when buying with a foreign spouse
You can get two grants when buying under the NCS scheme: the Enhanced Housing Grant (EHG) for singles, and the Singles Grant.
A stronger interest in resale properties (and even close to TOP new launches)
Potential impact on quality
1. Increased cost of temporary accommodation and renovations
A delay of six to nine months typically means having to rent. For families who have already leased a property, extending it by six more months can be disproportionately expensive.
It s harder to negotiate a discount for shorter leases (less than a year).
In many cases a landlord already has replacement tenants lined up; the standard practice is to start marketing and looking for new tenants about three months before the existing lease expires.
If a landlord already has a new tenant willing to sign a 12-to-24-month lease, they re unlikely to pass this up, just to extend the existing tenant s lease by six to nine months.
The Big Read: Rising prices, building delays young couples face perfect storm in quest for home sweet home Toggle share menu
Advertisement
The Big Read: Rising prices, building delays young couples face perfect storm in quest for home sweet home
Advertisement Singapore
The Big Read: Rising prices, building delays young couples face perfect storm in quest for home sweet home The delays couldn’t have come at a worse time for young couples eager to set up their very first marital home, newly-weds say.
In pre-pandemic days, prospective homeowners were waiting for about three to four years following a new launch for a flat under the BTO scheme. Now, they will have to add between six and nine months, or even a year in some cases, to the waiting game. (Photo: TODAY/Ili Nadhirah Mansor)
Restrictions on size for BTO
New ECs only accessible via JSS
Mortgage Servicing Ratio (MSR)
1. Citizenship
Singles can buy an HDB flat under the Single Singapore Citizen Scheme (SSCS) or Joint Singles Scheme (JSS). The latter allows up to four unrelated singles to co-own a flat.
However, both schemes require you to be a Singapore citizen.
2. Age requirement
To buy an HDB flat as a single, you have to be at least 35 years old (the other usual restrictions, such as ethnic quotas and being a Singaporean or Permanent Resident, also apply).
If you’re unmarried or divorced, and have legal custody of a child, you and your child can form a family nucleus. This allows you to buy flats under the public scheme from the age of 21, subject to the usual eligibility requirements.
April 19, 2021
Carousell
The digital aspects of Singapore’s private property market have grown to new proportions – from a time when people didn’t trust online listings, to today when you can buy a house by tapping on your phone.
In this week’s property journey , we look at how a couple found their dream home online, and on Carousell:
Buying without an agent
P & A are a couple in their mid-twenties, who have also shared their home-buying journey on Instagram @ourfirsthome.sg . The couple was previously staying with their parents, so were eager to get a place of their own. However, they didn’t go the usual route and contact an agent.