I know some single people in Singapore are feeling left out especially in regards to housing. There are alot of restrictions on public housing especially if you plan to be a single property owner.
If you are single and planning to buy a HDB flat:
- you will need to be at least 35 years old
- you only qualify to purchase HDB flats for the resale market
- if you wish to purchase a brand new HDB flat – you can only purchase a 2-room 99-year Flexi Flat
2-Room Flexi Flats Has Restrictions
Flexi flats were introduced for senior citizens who wanted the cheaper price of buying a new flat with shorter flexible leases.
It has proven to be very popular amongst seniors.
One of the main restrictions of buying a short lease 2-room flexi flat is that it cannot be resold in the open market. Such flats are returned back to HDB upon demise of the owners.
They can also choose to return back the flat to HDB and any unused lease portion will be refunded back.

What Are The Best Options for a 35 Year Old Single Singaporean Citizen?
If you are single and wish to purchase a 99-year old brand new flat – your only option is 2-room BTO flats.
More details on the Single Singapore Citizen Scheme is here.
Bigger size flats with a fresh lease are only available for family units.
This is why I notice a lot of singles who prefer bigger flats opt for the HDB resale market.
For the typical single person in Singapore – if you have the means and income level – you can also explore the private property market.
Case Study: Melody who is 35 years old and staying with her parents
Melody is a single professional who is currently staying with her parents. As a single person, her eligibility of owning a flat comes with restrictions.
Being single – she realizes that she has to secure her own financial future.
She has to be financially independent and secure her future retirement by herself.
Unlike couples who can jointly contribute towards their matrimonial home – Melody’s future property will be financed solely by her.
So I sat down with her to explore what are objectives and goals for her future.
It becomes obvious for Melody’s case – she has to make her monies work harder for her.
Property will be an investment vehicle for her.
So her plans are:
- To collect rent from her investment property
- Continue to live with her parents
- Exit from her property investment in 10-15 years and cash out
- Buy a smaller home for her future retirement
Her Options Are Now a HDB Resale Flat or a Private Property
Let’s explore the pros and cons of each option. For a HDB flat, she has to stay and complete the 5-year MOP before she can rent it out.
No doubt, it is the more affordable option.
The other downside is the drop in resale value as the remaining lease becomes shorter.
This might affect her future plans to cash out as the chances of making capital gains on an old HDB flat are limited.
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The other option is private property – which can be financially draining if she doesn’t do the proper calculations.
The beauty of private property is there is no restrictions on renting out her unit.
It also comes with a high downpayment of 25%. Only 75% can be covered by the bank loan.
There is also a chance that she might have to top up cash every month if her monthly rental cannot cover her monthly installments.
The Trouble With Rental Income
Rental income sounds nice on paper but actually it can be a nightmare if done wrong. Tenancy issues and low rental yield are very common based on my experience in the market.
Tenants are spoilt for choice with so many new developments coming up.
At the same time, private property prices going on the up and up – means there is a lesser chance of being able to cover your monthly mortgage with your rental income.
This is where understanding your finances and exploring the worst case scenarios is important in your property plans.
Request For A No-Obligation Consultation Session
In 2019 alone, there was more than 60 new property launches in the market. Not all of them are suitable for someone like Melody.
As an agent with 7 years of experience, I have a context on what is going on in the market.
We have a limited number of funds available to us – it could be sleeping or it could be liquid.
In any case, it is important to make the right decision based on your own situation.
If you have queries, I invite you to contact me for a no-obligation discussion to explore what are the options open to you.
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