Are you a Singapore Permanent Resident (PR) looking to buy an HDB flat? If you’re single, you may be wondering if it’s possible to do so. The answer is yes, but with some restrictions. In this article, we’ll explore the eligibility requirements and purchase process for single PRs looking to buy an HDB flat.

To begin with, single PRs aged 35 and above can apply for an HDB flat on their own. However, they must apply under the Single Singapore Citizen Scheme (SSC) or Joint Singles Scheme (JSS). Under the SSC, single PRs can only buy a 2-room Flexi flat in a non-mature estate. On the other hand, under the JSS, two to four singles can apply together to buy a 2-room Flexi flat, a 3-room flat, or a 4-room flat in a non-mature estate.

If you’re a single PR looking to buy an HDB flat, it’s important to understand the eligibility requirements and purchase process. By doing so, you can make an informed decision and avoid any potential issues down the road. Keep reading to learn more about buying an HDB flat as a single PR.

Key Takeaways

• Single Singapore Citizens and Joint Singles can apply for an HDB flat on their own.
• Single PRs can only buy a 2-room Flexi flat in a non-mature estate under the SSC.
• Two to four singles can apply together to buy a 2-room Flexi flat, a 3-room flat, or a 4-room flat in a non-mature estate under the JSS.

Understanding HDB Eligibility for Single PRs

If you are a single Singapore Permanent Resident (PR) looking to buy an HDB flat, there are certain eligibility conditions that you must meet. This section will provide you with an overview of the eligibility criteria, types of HDB flats available, and financial considerations and grants that you should be aware of.

Eligibility Conditions for Singles

As a single PR, you are eligible to buy a resale HDB flat with another PR or a Singapore citizen under the Public Scheme or Fiance/Fiancee Scheme. However, you cannot buy a resale flat alone. Even if you apply under the Single Singapore Citizen Scheme, you can only purchase an HDB resale flat if you form a family nucleus with other single SPRs or family members.

There are also other eligibility conditions that you must meet, such as the income ceiling and the minimum occupation period. The income ceiling for singles is $7,000, and you must occupy the flat for at least 5 years before you can sell it in the open market.

Types of HDB Flats Available

As a single PR, you can choose from a range of HDB flats, such as 2-room Flexi, 3-room, 4-room, 5-room, and Executive flats. The 2-room Flexi flats are available for single buyers aged 55 and above, and you can choose a lease period ranging from 15 to 45 years.

If you are looking for a more affordable option, you can consider the Studio Apartment (SA) or the 2-room BTO flats. The SA is a small flat that is designed for elderly singles, while the 2-room BTO flats are suitable for young singles who want to own a flat.

Financial Considerations and Grants

When buying an HDB flat, it is important to consider your financial planning and the grants that you may be eligible for. As a single PR, you can apply for the CPF Housing Grant for Singles, which can provide you with up to $25,000 in grants.

You can also consider the Proximity Housing Grant (PHG), which is available for singles who buy a resale flat near their parents or children. The PHG can provide you with up to $30,000 in grants.

It is also important to note that the Ethnic Integration Policy (EIP) and the Singapore Permanent Resident (SPR) quota are in place to ensure a balanced mix of ethnic groups and citizenships in HDB estates. As a single PR, you will need to adhere to these guidelines when buying an HDB flat.

Overall, buying an HDB flat as a single PR can be a challenging process, but with the right knowledge and preparation, you can make an informed decision and find a home that meets your needs and budget.

The Purchase Process for Single PRs

If you are a single Singapore PR looking to purchase an HDB flat, there are certain legal and financial procedures you need to follow. In this section, we will provide you with a step-by-step guide to buying an HDB flat and explain the legal and financial procedures involved.

Step-by-Step Guide to Buying

The buying journey for a single PR looking to purchase an HDB flat starts with the Option to Purchase (OTP). Once you have found a suitable flat, you will need to pay a deposit to the seller and sign the OTP. This will give you the exclusive right to purchase the flat for a period of 21 days.

During this period, you will need to arrange for a valuation of the flat and apply for an HDB housing loan if you require financing. Once the valuation is completed and the loan is approved, you can exercise the OTP by paying the remaining balance and signing the Sale and Purchase Agreement (SPA).

Legal and Financial Procedures

The legal and financial procedures involved in purchasing an HDB flat include legal fees, property taxes, mortgage rates and financial planning. You will need to pay legal fees for the conveyancing process, which involves transferring the ownership of the flat from the seller to you.

You will also need to pay property taxes, which are based on the annual value of the flat. If you require financing, you can apply for an HDB housing loan, which is offered at a concessionary interest rate. The mortgage rate is fixed for the first ten years and can be re-priced thereafter.

It is important to have a financial plan in place before purchasing an HDB flat. This will help you to manage your finances and ensure that you can afford the monthly instalments. You can also check the HDB resale flat prices to get an idea of the market value of the flat you are interested in.

Finally, you will need to submit the necessary documents to the Singapore Land Authority (SLA) to register the transfer of ownership. Once the transfer is completed, you will become the legal owner of the HDB flat.

In conclusion, purchasing an HDB flat as a single Singapore PR involves several legal and financial procedures that you need to follow. By following the step-by-step guide and seeking professional advice, you can ensure a smooth and hassle-free buying experience.

Frequently Asked Questions

Can a single Permanent Resident purchase a resale HDB flat in Singapore?

Yes, a single Permanent Resident (PR) can purchase a resale HDB flat in Singapore. However, the eligibility criteria for PRs to purchase an HDB flat are different from those for Singapore Citizens (SCs). The PR must have fulfilled the Minimum Occupation Period (MOP) of five years before they can purchase a resale flat in the open market.

What are the eligibility criteria for two PR siblings looking to buy an HDB flat together?

Two PR siblings can purchase an HDB flat together under the Joint Singles Scheme. The eligibility criteria include being at least 35 years old, unmarried, and both siblings must be first-time buyers. They must also not own or have owned any residential property in Singapore or overseas, and their combined income must not exceed $14,000.

How much down payment is required for a Singapore PR to buy an HDB flat?

The down payment required for a Singapore PR to buy an HDB flat is 25% of the purchase price. This amount can be paid using CPF savings, cash, or a combination of both.

Are divorced PR individuals eligible to purchase HDB flats, and what are the conditions?

Divorced PR individuals are eligible to purchase HDB flats under the Single Singapore Citizen Scheme or the Joint Singles Scheme. The eligibility criteria include being at least 35 years old, a first-time buyer, and not owning or having owned any residential property in Singapore or overseas.

What is the minimum occupancy period for PRs before they can buy an HDB flat?

The minimum occupancy period for PRs before they can buy an HDB flat is five years. This means that PRs must have lived in their HDB flat for at least five years before they can sell it in the open market or purchase another HDB flat.

What is the Single Singapore Permanent Resident (SPR) quota for purchasing HDB flats?

The Single Singapore Permanent Resident (SPR) quota for purchasing HDB flats is 15% of the total number of flats available for sale in the open market. This quota is to ensure that there is a fair distribution of HDB flats between Singapore Citizens (SCs) and PRs.

Overall, as a PR, you have various options for purchasing an HDB flat in Singapore. However, it is essential to understand the eligibility criteria and conditions before making any decisions.