Singapore Housing

Singapore has two types of housing: public and private. Public housing is subsidized by the government and open to Singapore nationals and permanent residents. Private housing is often owned by wealthy Singaporeans and rented to temporary residents.

Public housing is called "HDB" which stands for Housing Development Board. HDB is a government organization that provides public housing to Singaporeans. There are many regulations with HDB transactions. For example, one household can own only one HDB flat, and HDB flats cannot be rented out unless you are stationed overseas.

The government has a national savings plan. Twenty percent of every paycheck is automatically deducted and put into CPF (Central Provident Fund). The employer contributes 10% to 20% of the each employee's pay into the employee's CPF account. CPF funds can be used to pay a housing deposit and mortgage. 
HDB building under construction. The front gate of an HDB flat.

There are varying grades of HDB flats. Some are so old and dilapidated that we can't believe people live in them. Some of the new ones are nicer than private condominiums. 

Old HDB building.
New HDB building.

There is a two to three year wait list to purchase a brand new HDB flat. New HDB flats come with bare concrete walls. The owner must finish the entire interior including electrical. A young lady we know spent about US$30,000 to finish her apartment.

Inside of an HDB flat that's ready for sale.

When applying for an HDB flat, the size of the apartment that one can purchase is determined by one's income. This prevents a high income family from buying a small inexpensive flat. Without these regulations, there may be an insufficient supply of inexpensive flats for lower income families. 

Wealthy Singaporeans purchase private condominiums and rent them to foreign expatriates. The rent of our three bedroom condominium exceeds Masami's local-hire monthly salary.
Main entrance to our condominium before National Day.

The biggest difference between HDB flats and condominiums is the facilities. Most condominiums have a swimming pool, Jacuzzi, tennis court, sports gym, squash court, and BBQ area. Security staff mans the entrances and visitors are asked to register.