As the current trends depict that Singapore is one of the most expensive countries in the world to buy property. The reason for that is the increase in the purchasing power of the people along with the increase in demands. Flats and the condominium such as the tapestry are hot favorites in the market.

Public housing schemes which are known as HDBs has almost crossed S$1 million in recent times. The ownership percentage of the country has reached more than 90%. The reason for that can be associated with the brilliant retirement saving system called the CPF which helps many citizens to become homeowners.

Home-possession is a typical goal for some Singaporeans. Be that as it may, there is dependably the issue between purchasing an HDB and a private property.

Considering incorporate direction for living, qualification and obviously, the potential for capital gratefulness one should plan to sell that property one day.

Regardless of whether individuals are an outsider or a nearby, odds are they’ve asked themselves regardless of whether they will preferably live in a townhouse or in one of the numerous open lodging offices alluded to as HDB Flats. Both are frequently contrasted due with their similitudes, and there are solid contentions to be made.

Even today in new areas, the Housing and Development Board (HDB) continues its development.

The demands are surely going to rise with time and here are some the reasons why:-

  • Availability Of The Facilities

The condominiums are often well recognized and costly for the amenities and the facilities provided for the residents. The semi-private swimming pools, outdoor areas, courts of all kinds, and other issues spots surely prove a boon to everyone, especially for those who use them more often.

The reason behind the high cost of the condominium is the amenities. HDBs too have many amenities and the facilities. It has community centers centrally located within the neighborhood where everyone has access to.

They also have the sporting fields of varying kinds and the common areas and courts. HDBs also have access to small, mini mart like establishments that offer a broad assortment of goods for low prices.

HDB states a great deal of authority over luxuries in the homes, and it even has some impact in which shops are open in heartland shopping centers. This keeps things very reasonable.

The little comfort stores underneath an HDB obstruct, alongside wet markets and peddler enable residents to discover basic supplies and everyday supplies at a much lower cost.

On the other hand, condos tend to be far away from the heartland amenities. These areas attract higher budget businesses, for example, hipster cafes or boutique retail outlets in their area.

  • Accessibility To The Public Transport

The major difference between the condos and the HDB flats are the Location. Condos are designed with keeping rarity in mind. Thus, that kind of development is developed in the areas where the private transportation is easily available or additional distance from the bus stops.

While the HDB flats are developed and located near MRT stations or Bus interchange that make traveling extremely convenient. They are closer to the central clusters, where they find amenities like neighborhood malls.

Also note that in Singapore, certain groups of people believe that condo developers assume that the residents can afford private transport. Thus, they are built and located further away from neighborhood hubs.

On the other hand, there are some of the condos which are just as conveniently located.

They don’t constitute the majority, and those are likely to feature high rental costs. If the buyer intends to use the public transport than HDBs units are generally a better choice if the individuals don’t drive

Truth be told, it is an arrangement of the Land Transport Authority (LTA) to set up a minimum one transport benefit inside 400 m of an HDB square and another transport benefit connecting an HDB domain with a transport trade or MRT station inside the region.

  • Value For Money

Compared to Condos, HDB rental rates are much lower. In some parts of Singapore, the value of entire five-room flats can be rented for below S$2,500. Although, this is not the actual prices in the entire country as it can vary area wise. It can also climb around S$2,700 to S$3,000 as a buyer get closer to the Central Business District.

With all the perks that come along with it, condominium units are arguably at a premium. There are some perks of this as it also commands a higher asking price for the same amount of space. Compared to other HDB flat, there would be less spaces available.

The condos are built on the principle of luxury, comfort, and privacy. They rarely rent out for less than S$3,000 a month, even if it is suburban units. Around the Central Business District, the rents of the condos often start at around S$6,000 per month.

Thus, HDBs are the primary choice for this matter as the residents will feel like home at a reasonable price. HDBs units lean towards a communal system that promotes a sense of community among owners.

  • Greater Immersion In The Community

Majority of the local residents of Singapore lives in an HDB flat. Moreover, HDB estates are purpose-built to encourage community living.

For example, Community events such as bridal parties, to Chinese New Year festivities, void deck areas are specially designed.

One interesting element of HDB flats is that to prevent the formation of enclaves, they contain the racial quotas. Residents won’t find entire clusters dominated by a single ethnic group.

Thus, HDB units are a true melting pot of different cultures and are reflective of Singapore’s multi-racial, port-city nature.

  • Legal And Financial Eligibility

Subsequent to deciding a reasonable target for purchasing a property, qualification to obtain the property has a vital influence also. For HDBs, a buyer should satisfy the nationality. Additionally, family core qualification also needs to be satisfied with all requirements for procurement.

For condominiums, there are no such restrictions, but foreigners will need to be aware of the additional buyer’s stamp duty initiated. The residents of Singapore would have to pay an extra 5% on their first property purchase, and foreigners will need to top-up an additional 15% to purchase the property.

Another critical thought includes another confinement set out as a feature of the cooling measures – Total Debt Servicing Ratio(TDSR). This applies to both Singaporeans and outsiders alike.

Essentially, as far as possible the sum borrowers can spend on aggregate obligation reimbursements to 60 percent of their gross month to month salary.

The total debt repayments do not mean just the mortgage loan, rather it includes other debts buyers may have, such as auto loans, study loans, personal loans, and credit card debt.

Thus, before the buyer starts looking for an ideal home, it might be wise to work out the amount of loan that they take, based on their salary to narrow the choice of the type of properties that they can afford.

  • Private Security

The community mainly acts as the security in HDB estates. It’s tough to break into a house when there are four to five families resides on the same floor, all within shouting distance.

While in the Condos, they employ private security that patrols the grounds 24/7. In some condos, the security also tends to be better built. It’s impossible to even access the floor without a keycard, even if someone were to sneak past security.

If the individual has reasons for needing high levels of security or the works in a sensitive field, a condo is a better choice.

  • Pet-Friendly

This might not be an important category for some residents but for the rest of the people, this may be the prime category. Due to shared spaces and the floor size, HDB estates are more restrictive regarding pets.

There is some approved list of pets. If the buyer has a medium sized dog that is medium breed, it is not allowed in an HDB flat. Condos are less restrictive regarding the pets. However, they have to consult the management committee or the landlord first.

  • Restrictions On Resale And Rent

The buyers have to fulfill the Minimum Occupancy Period of 5 years before they can sell or rent it out if they purchase HDB flat. This is the minimum time period which they have to spend. After the time gets over and if they decide to sell, buyers are required to sell the flat only to those who meet the Ethnic Policy/Singapore PR quota.

If they intend to rent the flat, they need HDB approval. There is also a resale levy which reduces the amount of grant that they are eligible for their next HDB purchase.

In the case of the condo, there are no such restrictions. However, they need to pay Seller Stamp Duty if they sell it within the first four years.

  • Facilities Fees

The number of facilities provided by the condo developers is enormous but it comes at a cost to enjoy the higher quality of life. The residents need to pay the money every month to maintain them. The fees range from developers to developers starting with $250 a month and can go up to $1,000 a month.

The HDB flats to have a service charge which also depends upon the type of flats and town. It ranges from $19 and $59 for HDB units. Comparing to a condo, the HDB flat is such property which comes with a lower service and conservancy charges compared to the more expensive maintenance fees of condos.

  • Guest Friendly

On the off chance that buyers, every now and again have visitors over, it is better to rent an HDB flat rather than an apartment suite.

This is on the grounds so their guests will think that it’s less demanding to drop by at their place as they don’t need to go through stringent safety efforts that townhouses utilize.

While HDB squares don’t accompany with the everyday security, they’re as yet tranquil and secure as there are CCTV cameras put at lift entryways, lifts arrivals and lift insides.

Also, the network basically goes about as the guard dogs. It is difficult breaking into a level when there are four or five level close-by, whose families can be effortlessly cautioned.

The housing in Singapore is not akin to a ghetto or slum. The crime rate in the country is also low. If the residents are coming home late at night they don’t have to fear anything.

While in the Condos, they have very strong tough security measures and condominium builders set-up complex access procedures. Because of that one can feel airport-like security in the park.

For example, in many apartment suites, residents need a key card to get to almost all areas inside the advancement, including the floor where their unit is found. Sans the key card, guests need to look for help from the security monitor and utilize a lift committed to visitors.

Security guards will routinely request for IDs, thus, passing through the guard house will not an easy feat. At the guardhouse, they need to record their particulars and inquire about the purpose of their visit and they have to mention for how long they are going to stay.

While comparing it to HDB units, those blocks don’t have the guards and the visitors of the residents can just drop by and knock on the door.

Conclusion: Condos Vs HDB Flats

Fundamentally, the budget is the final aspect while choosing HDB or condos in Singapore. Those buyers with a good amount in hand have the option of renting either kind of property.

If the buyers opt condos, they have to pay for in terms of exclusive facilities like a swimming pool, tennis court, gym, and sauna. But if they don’t use such perks, there is no point in leasing a condo. Except if the strong security and better privacy are what they need, then they should go for it.