If you are looking for a new home in Singapore, it is time to start looking at the latest HDB launches available for sale. These include 3Gen flats, 4-room units, executive condominiums, and DBSS units. Listed below are some things you need to know about these units before you decide to buy.
The 3Gen scheme aims to encourage young couples to live with their parents, and it also allows non-family members to rent out their 3Gen flats. There are several criteria that you have to meet before you can purchase a 3Gen flat. For starters, you must have your parents registered as occupiers of the flat. And you must not own another HDB unit in Singapore or any overseas property.
The 3Gen scheme is intended for multi-generational households and has stricter eligibility criteria than other flat types. If you are a couple and you have at least one Singaporean parent, you are eligible to apply for a 3Gen flat. Moreover, the parents must not have any private property in Singapore or overseas and must not have sold or sublet it within the past 30 months.
The typical 3Gen flat is one hundred and sixty square metres in area. It is larger than a five-room flat, and is a good option for couples and families living with their parents. It fosters stronger family ties and provides ample privacy for every household member. Moreover, the 3Gen flats are relatively affordable, which is important for those living with their parents.
4-room units
Four-room HDB units are on sale for a median price of S$626,000. Among the most popular flats are four-room ones in Kallang and Bidadari. This is because of their proximity to the CBD and recreational facilities in the vicinity. However, buyers should be aware that these units cannot be sold in the open market.
Depending on your needs, you can choose between a 4-room or a 3-room HDB unit. If you are not yet married and do not have kids, a 3-room unit may be more suitable. For families, a 4-room HDB unit may be ideal. However, it is important to note that these flats are expensive so consider their benefits and drawbacks before making a decision.
The Bidadari four-room flats received a smaller response than other recent launches. Only 481 people applied for the flats. However, there are a total of 587 flats available in the project.
Executive condominiums
One of the latest launches from HDB is an executive condominium at Bukit Batok West Avenue 8. With a gross floor area of 37,348 square meters, this development is expected to yield 375 units. Located near a park and within the vicinity of future high-rise residential sites, this EC development will appeal to both first-time buyers and HDB upgraders.
Executive condominiums are a popular form of housing in Singapore. They are a step above HDB flats and can be bought at lower prices. In addition, they feature the same facilities and design as private condos. This type of housing is suitable for those who can’t afford private condos.
Executive condos are similar to private condos and are priced lower than comparable private developments. In addition to lower price tags, they tend to enjoy higher asset appreciation than comparable private developments. ECs have achieved a median capital appreciation of 29%. While not everyone can afford to purchase an EC brand new, ECs can prove to be an excellent investment and an excellent alternative for those who can’t afford to buy a private condo.
DBSS units
There are currently 13 DBSS projects in Singapore. Of these, 3 are located within the Tampines town estate. The Premiere @ Tampines is the first such project, which was launched for sale in 2006. It was completed in 2008. In addition to this, there are also other DBSS projects in Singapore.
DBSS flats are similar in size to HDB flats, but they have different features and amenities. These include keycard access and three bathrooms. The DBSS flats were intended to be more expensive, but were still sold at a higher price. DBSS flats are also rare, and therefore they are popular resale properties for Singaporeans.
DBSS flats are usually very expensive, with the highest-priced units in the city fringes and at desirable estates like Bishan. In contrast, the most affordable DBSS unit transaction price was $543,000 at Lake Vista @ Yuan Ching, a project in Jurong West. Other DBSS projects with more affordable prices include Adora Green in Yishun and Parkland Residences in Pasr Ris.