Social Housing Schemes Singapore
Shunned by expats, they represent better value, are better located, nearest to amenities to some Singapore social housing schemes are a marvel especially if you want to live like a local. You will notice that Singapore is one big social housing scheme, known and loved locally as the “Heartlands” developed to end colonial-era poor housing and as part of a post-independence nation-building initiative to give citizens access to capital. Occupants do not rent the homes they buy, based on government housing loans over 15 to 25 years much like a mortgage but without the austerity of the commercial banking sector.
In 2022 more than three quarters of Singapore House live in Housing Development Board (HDB) apartments, the most common being four-room flats (aka 3 bedrooms). When you consider the resell market value on these properties is not yet at half a million Singapore dollars you can see how multi-generational wealth and saving is developed for working families and greater bond to their nation.
When families face financial difficulties, marital splits or a mother or wife is widowed she might move in with her children and rent out her apartment. At SGD 3,000 a month rent this is a good income for the widow and three-quarters the rent you might pay for a smaller less desirable private property.