What is the real estate model in Singapore?

Singapore's real estate model is that the government comes forward to organize professional real estate development companies to build "apartments" and sell them to ordinary people at low prices.

All public housing in Singapore is planned and constructed by the Housing Authority, and sold at preferential prices (a small amount of lease) for residents to purchase by stages. At the same time, the government will provide various housing subsidies to eligible people. Government public housing is also called "HDB". Once purchased, the property right of HDB belongs to residents, and its service life is 99 years.

In Singapore's real estate model, there are both high-end commercial housing market and affordable housing, which are distinct and do not affect each other. There is no middleman to earn the price difference of affordable housing, so it is very cheap. Freshly graduated college students have the ability to buy their own houses in a short time without having to bear too much financial burden.

According to past experience, under the Singapore model, despite the large population and small land, house prices are stable, not affected by economic fluctuations, young people have less burden, strong innovation ability, active economy and guaranteed government taxes. The government does not need to sell land at high prices to maintain financial operation, and the economy and society are more likely to enter a virtuous circle.

Matters needing attention in buying a house in Singapore

1. Budget and financial planning: determine your own purchase budget to ensure that you can afford the house price and related expenses, including mortgage interest, property tax and maintenance fees. At the same time, you need to consider whether you need to pay extra stamp duty and lawyer's fees.

2. Choice of housing type: Singapore has different types of housing to choose from, such as apartments, detached houses and townhouses. According to your own needs and budget, choose the apartment that suits you.

3. Geographical location and convenience: consider the geographical location of the house, whether it is close to schools, shopping malls, hospitals, transportation hubs and other living facilities. This will have an impact on your lifestyle and transportation.

4. Housing condition and quality: Before buying a house, especially a second-hand house, the house must be inspected to ensure that the house is in good condition. Check the structure, facilities and decoration of the house, and understand the relevant maintenance records and warranty information.

5. Legal consultation and contract terms: Before signing a house purchase contract, it is recommended to consult a professional lawyer or real estate agent to ensure that you understand the contract terms and legal obligations. This will help protect your rights and avoid potential legal problems.

6. Loan choice and interest rate: If you need a mortgage loan to buy a house, it is recommended to compare with many banks and financial institutions and choose the loan scheme that suits you best. At the same time, we should pay attention to factors such as loan interest rate, repayment period and repayment ability.

7. Policies and regulations: Understand the relevant policies and regulations of Singapore's real estate market, such as restrictions or additional fees for foreigners to buy real estate. Make sure you meet the legal and tax requirements and all the purchase conditions.