Public housing in Singapore is managed by the Housing and Development Board. The Board builds and maintains houses commonly known as HDB flats.
The majority of the residential housing developments in Singapore are publicly governed and developed and about 85% of Singaporeans live in such houses. HDB flats are affordable for the masses and their purchase can be financially-aided by the Central Provident Fund. The apartment flats are not actually purchased but leased in a 99 year lease-hold.
These flats are located in housing estates, which are self-contained satellite towns with schools, supermarkets, clinics, hawker centres, as well as sports and recreational facilities. There are a large variety of flat types and layouts, generally classified into three-room, four-room, five-room and executive flats (the living room counts as one room).
A three-room flat has two bedrooms in about 70 m2 (750 sq ft). A four-room flat has three bedrooms with about 90 m2 (970 sq ft) of space. A five-room is about 110 m2 (1,200 sq ft). Some have an extra room that is used as a study; others have a dining area. An executive apartment has three bedrooms and separate dining and living rooms. They are the largest apartments built by the Housing Board, with 150 m2 (1,600 sq ft) of space.
Public housing in Singapore as such is not generally considered as a sign of poverty or lower standards of living as compared to public housing in other countries (Australia, England etc. where property pricing is significantly cheaper in the cost to size ratio[citation needed]). Property prices for the smallest public housing can often be higher than privately owned and developed standalone properties (Townhouse, apartment unit etc.) in other developed countries after currency conversion. Even though the majority of residents live in public housing, very few are below the poverty line.
The following eligibility conditions have to be met for the purchase of a new HDB flat in Singapore:
The buyer must be a Singaporean citizen. His family nucleus must also comprise of at least another permanent resident or citizen of Singapore.
To purchase a 2-room flat, the buyer's gross monthly household income must not exceed S$2,000. To purchase a 3-room flat, the buyer's gross monthly household income must not exceed S$3,000. To purchase a 4-room or bigger flat, the buyer's gross monthly household income must not exceed S$8,000. If the buyer is buying a flat with his extended family, then his gross monthly household income must not be more than $12,000.
