A Single’s Guide to Buying a HDB Flat in Singapore

A Single’s Guide to Buying a HDB Flat in Singapore

In a nutshell:

Singles in Singapore can buy a Housing and Development Board (HDB) flat under two schemes: the Single Singapore Citizen Scheme (SCSS) or the Joint Singles Scheme (JSS). Options include 2-room Flexi BTO flats, resale flats (excluding 3-gen), and executive condominiums (ECs) under JSS (with some restrictions). Tools like MyHome Planning Tool and In-Principle Approval can help determine your affordability.

Affordable Housing for Singles in Singapore

Many young Singaporeans live with their parents due to the high cost of housing. However, if you are single and at least 35 years old, you are eligible to purchase a government-subsidized HDB flat, with various grants available to help ease the financial burden.

Housing Options for Singles

1. For First-Timer Singles (Age 35+):
   • You can apply for 2-room Flexi BTO flats (Standard, Plus, and Prime projects) in any estates or purchase resale flats of any size (except 3Gen flats) in any estate
2. For Singles Under 35:
   • You can explore private property options as you won’t be subject to HDB eligibility rules.
   • You can buy resale ECs after they meet the MOP (Minimum Occupation Period)

Eligibility Criteria for New Flats & Resale Flats:

HDB Schemes for Singles

1. Single Singapore Citizen Scheme (SCSS):
   • Eligibility: Must be a Singapore citizen, at least 35 years old, and single, divorced, or widowed (if 21 or older).
   • Flat Options: You can buy either a BTO or resale flat.
     • BTO: More affordable but comes with long waiting times and restrictions.
     • Resale: Offers more flexibility with no waiting time, but higher prices.
   • Income Ceiling: For BTO flats, the ceiling is S$7,000.
2. Joint Singles Scheme (JSS):
   • Eligibility: Up to 4 single Singapore Citizens (35+ years old) can jointly apply for a flat.
   • Flat Options: You can apply for BTO and resale flats, as well as executive condominiums (ECs).
   • Income Ceiling for ECs: The total household income cannot exceed S$16,000.
   • Ownership: Under JSS, multiple owners can hold joint or shared ownership, depending on the agreement.

CPF Housing Grants

1. Enhanced CPF Housing Grant (EHG) (Singles):
   • First-time applicants can apply for grants up to S$60,000, based on income.
2. Singles Grant (Resale Flats):
   • First-time applicants buying a resale flat can apply for up to S$40,000 (2- to 4-room flat) or S$25,000 (5-room flat).
3. Proximity Housing Grant (PHG):
   • You can apply for the PHG if buying a flat near your parents.

Note: ECs are not eligible for any housing grants.

Major Flat Types to Consider

• BTO Flats: These are more affordable but come with long waiting times and restrictions. A 2-room Flexi flat typically ranges from 38 sqm to 48 sqm and costs around S$100,000-$360,000 before grants.
• Resale Flats: These are more expensive but offer quicker availability and fewer restrictions. For example, a 3-room flat in Bedok North may cost between S$270,000 to S$850,000 before grants. However, there may be additional renovation costs for older flats.
• Executive Condominiums (ECs): ECs are available under JSS, but you need to buy with others (at least 2 people). ECs cost significantly more, with prices starting from S$1,200,000 to S$2,500,000.

Understanding Affordability

Buying a flat as a single isn’t a simple decision—there are many factors to consider, including grants, eligibility, and affordability. To get a clearer picture of what you can afford, use the Finance Tool. It helps you estimate your budget,  monthly home loan repayments, SSD (Seller Stamp Duty), ABSD (Additional Buyer Stamp Duty). This tool is essential for managing your finances and ensuring you make a sustainable home purchase.

Contact me Janice Ong at 98422759 if you like to purchase Resale HDB Flats, New/Resale ECs, New/Resale Condos or Landed Property.

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