If you are contemplating to rent out your spare room or even lease out the entire HDB flat, you have come to the right place! It is actually very easy to D.I.Y without much hassle! So here is how to do rent out your HDB flat in 9 easy steps! STEP 1. CHECK WHETHER IF YOU HAVE FULFILLED THE CONDITIONS FOR RENTING OUT YOUR HDB a. Citizenship Only Singapore Citizen's flat owners can rent out the entire flat. The Singapore Permanent Resident flat owners are only allowed to lease out the spare room. b. Minimum Occupation Period (MOP) Meet the MOP of 3 or 5 years. If your flat is non-subsidised (purchased from the open market without a housing grant) and purchased before 30 August 2010, the MOP is 3 years. Tip: Print the confirmation of your eligibility to rent out the whole flat through My HDBPage. (Log in with your SingPass and go to: My Flat > Purchased Flat - Renting Out of Flat). For more details, refer to the HDB's guide here. STEP 2. FIND OUT THE OCCUPANCY CAP AND THE MAXIMUM RENTAL … [Read more...] about How to rent out your HDB flat without an agent in 9 easy steps
Hdb flat prices
SINGAPORE - The demand for ageing Housing Board flats is on the rise, two months after the authorities changed Central Provident Fund (CPF) rules to expand the pool of people who can buy them. Some 564 flats aged more than 40 years changed hands in May and June, up from 403 in the same period last year. Transactions for flats between 30 and 40 years old rose 10.4 per cent to 1,219 units over the same period. This means that older flats - those over 30 years old - made up 44.9 per cent of the total resale transactions in those two months, up from 40.6 per cent in 2018. Ms Christine Sun, head of research at real estate agency OrangeTee & Tie, which compiled the data in its half-yearly report, said on Tuesday (Aug 6) that the second quarter usually sees more sales. But the fact that resale transactions have also increased - by 5.6 per cent year on year - shows that "apart from a seasonal effect, the recent CPF changes may have been a major catalyst that has spurred … [Read more...] about Older HDB flats back in demand after CPF rule change
Unrelated singles who are 35 years or older can also jointly apply for an HDB flat - up to 4 such individuals can co-own a flat this way under the Joint Singles Scheme. The only other eligibility requirement is the EIP and SPR quota (used to encourage and maintain social cohesiveness). However, this is more likely to impact your flat's location, rather than act as a hurdle against your eligibility to apply for one. As a single buyer, you have 2 choices when it comes to HDB apartments - a 2-room BTO HDB flexi flat, or a resale HDB flat. The table below presents a quick summary of the pros and cons of both options. WHICH HDB FLATS SHOULD SINGLES GET? 2-Room BTO HDB Flexi Flat (99-year lease) Resale HDB Flat More affordable (approx S$75,000 to S$158,000) More expensive (approx S$250,000 to S$343,000 for a 3-room flat) Longer waiting time (average 3 to 4 years) Shorter waiting time (You can complete your purchase in as little as 6 months) Restricted to 2-room units (35 sqm … [Read more...] about What type of HDB flats can single Singaporeans buy?
New Housing Board flats will now come with condominium-like finishings. These sleeker and more modern fittings - such as larger tiles and concealed floor traps - will be installed in new Build-to-Order (BTO) projects launched since February. The new flats will incur marginally higher costs that HDB will absorb and does not affect the pricing, a spokesman said. Mr Jansen Foo, deputy director in HDB's building quality group, said the net cost increase is minimal as HDB has been able to achieve economies of scale. The HDB has adopted several practices akin to those at condos in recent years, such as pushing structural walls and beams to the side to encourage open-plan layouts. "This year, we took this one step further to improve the range of fittings provided in our new flats for a sleeker look. HDB is constantly improving the design of our flats to suit the changing needs of our residents," said Mr Foo. The new fittings include a scratch-resistant laminated timber main door with better … [Read more...] about New HDB flats to come with condo features
Yes, we know HDB flats should be homes first and retirement funds second, and so on. But let’s be honest: Everyone wants to know what the big pay-off could be, besides shelter from the elements. Here’s a look at the numbers.WHICH FLAT TYPE APPRECIATES BEST?To find some answers, we looked at price movements of 3-room, 4-room and 5-room HDB flats over a period of 15 years. Starting with Singapore as a whole, here’s what we found:3-room HDB flats have appreciated by around 69 per cent. The average price of a resale 3-room flat today stands at around S$299,000, up from an average of S$176,800 back in 2004.4-room flats have appreciated by around 78 per cent. The average price of a resale 4-room flat is now around S$425,275, up from around S$238,300 in 2004.5-room flats lag just slightly behind 3-room flats, appreciating by around 68.57 per cent. The typical price today is around S$526,850, up from around S$312,500 on 2004.As such, we can see that 4-room flats show the … [Read more...] about Which type of HDB flat gives the best returns: 3-room, 4-room or 5-room?