Residential properties in Singapore can be divided into three main categories: Private apartments, landed properties and HDB apartments. If you are a foreigner, you need to understand the difference as there are ownership restrictions on the latter two.
Private apartments are classified either as apartments or condominiums by the government. The distinction is somewhat artificial, but typically apartments are smaller developments and condominiums generally have more facilities and are larger. Most condominiums come with swimming pool, tennis court, gym, squash court, children playground and a BBQ area. They also typically have their own enclosed car park and security guards looking after the security at the entrances and the whole area around the condominiums. Tenure of private apartments is commonly freehold, 99-year leasehold or 999-year leasehold.
Landed property classifications are, for example, terraced house, semi-detached house, detached house, good class bungalow and shop house. The main point to note is that they are tied to the land title. Landed properties are typically freeholds, but there are 99 and 999-year leaseholds in the market as well. As land is scarce in Singapore, you can expect landed properties with large plots to be very expensive – especially near the city centre.
HDB apartments are flats built and maintained by Housing and Development Board, with the government subsidising the purchase and financing of these. HDB estates with a concentration of a number of HDB apartment blocks are designed to be self-contained neighbourhoods – with coffee shops, supermarkets, food centres, clinics, schools, library, shopping malls, playgrounds and parks. HDB estates are also well served by public transportation system (buses and MRT). HDB apartments are always 99-year leaseholds and typically lack the facilities of private apartments.
Executive Condominiums are somewhere between HDB apartments and private condominiums. There were created for professional young people who want better than HDB, but cannot afford private condominiums. They are government subsidised and can only be bought if a certain criteria is met – similar to HDB criteria. They will automatically convert into no restrictions private properties after 10 years from construction. They cannot be sold at all during the first 5 years, and they cannot be sold to a foreigner during the first 10 years from construction.
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