Because of the success of the policy of public housing in Singapore, which began in 1960, 80% of Singaporeans live in HDB flats today. Those considering buying a residential property in the island nation must take into account various factors; we will take a closer look at each in turn in this article. To discover more details about Pullman residences price you may check here https://www.pullman-residences.co/pullman-residences-prices/.

Factors to Consider in Buying Residential Property in Singapore

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Reason for purchase

Of course, if it is for investment, a major factor in the consideration would be a capital gain. On the other hand, the purchase for owner-occupation of making capital gains secondary concern. In this case, the more important factors will be the size of the current or future household.

A single pensioner or may elect for a small flat. While young, married couples can also choose a small flat if they have limited financial means or a large flat if they plan to have children and be provided if they are rich enough to afford it.

From the standpoint of the government, HDB flats are intended for life and not for speculation. Therefore HDB flats charged Minimum Occupation Period (MOP) of five years whether for resale or purchase directly from HDB. It curbs house flipping of HDB flats.

Under the current regulations, the owner of a subsidized or non-subsidized HDB flat must satisfy the requirements of MOP 5 years before they are allowed to rent out their flats. Exceptions are made for the owners who live abroad.