In Singapore, houses and the flats for the public are totally managed by the Housing and Development Board (HDB). This management is under the temporary contract that is done under the temporary leaseholds for 99 years. Selling HBD flats in Singapore is governed and developed publicly. The population of Singapore that is living in the lease houses in decreasing and till 2000 it has been dropped to 87 percent. The HBD flats are located in the housing estates, these estates are full of amenities like supermarkets, schools, hospitals, and all other recreational facilities.
Different houses have different budgets so layouts and the designs are made accordingly. The main objective of building these flats in Singapore is selling HDB flats to such people who cannot afford houses. The purchase made by these people is aided by the fund called Central Provident Fund. The growth of these markets is going very high these days. Housing and the Development Board is basically the statutory body. It is the Ministry of national developments in the country. It is mainly responsible for public housing in Singapore. Selling HDB flats makes its possible for the 82 percent of Singaporeans to live in the public houses that is mainly helping them in making the purchases of houses in a best possible way and helping them to pay the money by providing the funds.
There are many different types of plans and programmes that are established by HDB. They are developing many new plans. I am going to discuss certain programmes of selling HDB flats in Singapore.
- First programmes are the Registration Flat that is abbreviated as (RFS) this programme starts in 1980’s and ends in Feb This programme is basically for the selling the extra units from BTO.
- The second programme is named as Walk-In Selection that is abbreviated as (WIS) this programme starts in March 2002 and ends on Feb 2007. The buy-back scheme of HDB is followed in this programme.
- The third is the monthly/ quarterly/ hourly Balance Sale is abbreviated as E-Sale. It is started in the month of April 2007. This programmes also used the HDB buy-back scheme.
- The fourth programme is Balloting Exercise which is abbreviated as BE and started its development procedure in August 1995. This programme is only available for the new starting extra units of SERS.
- Next programme is Build-to-order (HDB) that’s abbreviated as BTO and started in April 2001. The main objective of this programme is to buy the house which has the waiting period of 4 years.
- Another important scheme is the Design, Build, and Sell scheme. The abbreviation is DBSS. It is initiated in October 2006. This programme does the buying of the condos that are newly designed and constructed by the private development company.
The board is developing the housing sector of the country and increasing the economic development of a country. In other words, this board in increasing the living standard of people by selling HDB flats. The first main objective is to build such falts that have very lesser cost as compared to others and helping those who cannot. 5-year building programmes are also developed by the HDB from 1960 to 1965. Initially, the flats that are sold by HDB is high in demand by the people who belong to the low-income group. Housing and the Development Board is providing an option to the citizen is to buy the flat instead of renting them. This option is given to them according to a scheme that is named as Home Ownership Scheme in 1964. In Selling HDB flats, the government s also helping the people in a way that they permit the people to use their Central Provident Fund for paying for the flat for the first four months. We can say that this fund is helping in the payment of downpayment. A total number of housing units that are built by HDB from the year 1959 to 1969 is 147,000 units. Among this number 47000 units are built due to the increase in the population of Singapore. Average of residential units that are constructed per year is 1400 units. The efficiency of HDB won the hearts of people.