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Buying a house as a single Singaporean

Header picture source: Pexel

This article was not reviewed by the Monetary Authority of Singapore (MAS) or any other relevant authorities.

Source: ahseeit

Sounds like a plan? Except… travelling would only happen in god-knows-when because covid-19 is still taking a world tour.

Angry Community GIF
Source: GIPHY

While finding a partner is still a cultural norm that we seem to be pressured to conform to, there is an increasing number of Singaporeans who are going against the current.

According to a 2018 HDB survey, single-person households (singles, widows, divorcees, seniors) made up 1 in 8 HDB households (11.9%) in 2018, as compared to 1 in 14 HDB households (7.1%) in 2003.

Correspondingly, there has been a rise in singlehood in Singapore.

Seems like some of us may be en route to becoming THAT rich auntie/ uncle huh?

Sexy Alex Pettyfer GIF
Source: GIPHY

As it is highly likely THAT rich auntie/ uncle also owns a house, let me share with you what are some things you should take note of when buying a house as a single person in Singapore!

1. Eligibility (For Public Housing) 

In order for you to purchase a home as a single person, you’d have to be:

  • Singaporean
  • At least 35 years old

While it may be a bummer that you are only eligible if you are at least 35 years old, this gives you time to save up and/ or who knows, you might meet a potential partner!

Never Know Schitts Creek GIF by CBC
Source: GIPHY

2. Eligible Housing Types

As a single person, there are only certain houses you could purchase!

Housing TypeSizeLocationWaiting TimeCost
2-room flexi BTO flat (Public Housing)36m2 to 45m2Only non-mature estatesAt least 3 yearsFrom $98,000 (based on May 2021 BTO launches)
Resale Flat (Public Housing)Depending on the type of house (e.g. 4-room flat = 90m2)No restrictionsAs soon as you are done with the purchaseLowest median for 3-room flat: $276,500 (Geylang)
(based on 1Q 2021 Median Resale Prices)
Condominium (Private Property)Depending on the location of the condominium (e.g. Outside Central Region = 85m2)No restrictionsAs soon as you are done with the purchase OR if you are waiting for the condominium to be builtLowest median for Outside Central Region new condominium: $1.1 million (based on 99.co)

Engage a financial adviser here if you are still unsure which housing type to work towards with your current finances!  



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