Eligibility for HDB Flats in Singapore

Purchasing a Housing and Development Board (HDB) flat in Singapore is a significant milestone for many citizens and permanent residents (PRs) of the country. However, before making such a purchase, it is important to understand the qualifications and requirements that must be met in order to be eligible.

First and foremost, HDB flats are only available to Singapore citizens and PRs. This means that foreign buyers are not eligible to purchase HDB flats. Additionally, buyers must be at least 21 years of age and must have a valid Singapore identification number, such as a NRIC or FIN.

Another important consideration is the income of the buyers. The HDB has implemented a Financial Assessment (FA) framework to ensure that buyers are financially stable and able to afford the flat. The FA takes into account factors such as the buyer’s income, outstanding loans, and credit history. As a general guideline, the combined monthly income of all buyers must not exceed $14,000 for a new 2-room flexi flat, $16,000 for a 3-room flat and $18,000 for a 4-room or larger flat.

Additionally, there are restrictions on the number of HDB flats that a buyer can own. Singapore citizens and PRs are only allowed to own one HDB flat at any one time, and must dispose of their existing flat within six months of taking possession of a new one.

Another important point to note is that first-time HDB buyers are eligible for additional subsidies and grants. These include the Additional CPF Housing Grant (AHG) and Special CPF Housing Grant (SHG), which are available to those who meet certain income and CPF savings criteria.

There are also additional eligibility criteria for specific types of HDB flats, such as the 2-room flexi flat, and flats under the Design, Build and Sell Scheme (DBSS) and Executive Condominium (EC) schemes.

In summary, to be eligible to purchase an HDB flat in Singapore, buyers must be Singapore citizens or PRs, at least 21 years of age, have a valid Singapore identification number, meet the income requirements under the Financial Assessment framework, not own more than one HDB flat and may be eligible for additional subsidies and grants.