If you have recently moved to Singapore, there are a couple of different things about the property market that you should be aware of. The first thing that you might have noticed is the big divide between public and private housing across the city. The majority of people who live in Singapore live in HDB flats. Housing Development Board (HDB) flats are a type of subsidised public housing available to people who live in Singapore. They are extremely cost-effective and a great option for someone who has just moved to the city. If you want to know more here is everything your need to know about living in a HDB flat.
Exposure to the local culture
HDB sales across Singapore have risen greatly over the past few years, due to a number of different factors. One of the main reasons being that it exposes you to the fantastic local culture. HDB flats are located throughout the whole city of Singapore, making it easy for you to wander around and explore. This means that if you live in one of these flats you will be right in the middle of this exciting, bustling city and you will be able to throw yourself into experiencing everything that the culture has to offer.
Great sense of community
HDB flat buildings typically house a number of tenants at one time. This means that you will have a lot of friendly neighbours that you can rely on. Living in a HDB flat building with a lot of different people means that there is a great sense of community. This is particularly great if you are new to the city and are wanting to meet new people and make some friends.
Cost factors
One of the greatest benefits that comes with renting or buying a HDB flat, when compared to other properties across Singapore, is that they are extremely cost effective. The cost of rent is relatively cheap when it comes to HDB flats in Singapore. They are known for being nearly half the price of a private owned apartments and condos, which can be extremely expensive in the city. The utility bills that come with living in a HDB flat are also relatively much cheaper than those of other properties. Meaning that you can save yourself a little bit of extra money every month.
Size and scale
When compared to other properties, HDB flats are typically much larger and provide tenants with a lot of space. HDB flats typically come with a spacious living room, hall, bedrooms, and kitchen. All of this space within the flats provides tenants with a lot of room for all of their furniture and belongings. HDB flats are known to be nearly twice the size of private owned apartments or condos in Singapore. Even though they are located in the centre of cities, these types of flats also come with spaces to park your car and even private open areas. These open areas are usually shared among all tenants in the building, but still provide you with enough space to sit, relax and get some fresh air.
Great accessibility
HDB flats across the city of Singapore, are typically located close to a number of different public transport options. When living in a HDB flat you are never more than a few minutes’ walk from the bus, train or MRT (Mass Rapid Transit). This means you have everything you need within your immediate vicinity and can get from one side of the city to the another quickly and easily. Being so close to public transport means that you have easy access to a number of different facilities and amenities across the city, such as shops, banks, gyms, bars and restaurants.
Convenience for guests
If you have recently moved into a HDB flat, you will more than likely have guests and friends over to visit you. When it comes to living in a private rented apartment or condo, there is typically a security key needed to access the building. This can be a nightmare when having guests or visitors over as they won’t be able to gain access to the building without this key or without being let in. Although this is not the case when it comes to a HDB flat. HDB flats are easily accessible and open to all visitors, meaning you can have anyone over to your flat as and when you want.
Hopefully, this guide has given you a bit more information on HDB flats and what they offer and has also made you aware of their many benefits. So next time you are moving to a new city, or you are just looking to move property, it might be worth your while looking into a HDB flat.