FOR SUNDAY 20
FOR SUNDAY 20
;JP;Sudibyo Wiradji;
ANPAc..r..
Focusissue-Spore-housing
Sudibyo M. Wiradji
Contributor
Jakarta
Want to rent public flats or
condominiums? It's up to you
Want to rent a dream house in Singapore for education or
business purposes? Or perhaps you want to invest your funds in a
residential apartment or a condominium there? Fine. But whatever
reasons you have, you first need to be familiar with the
country's housing policy for foreign citizens.
In general, Singapore property is divided into two categories.
One is called 'HDB flats' and the other 'private property.'
The HDB, which stands for the House and Development Board, is
a Singapore government body that builds public housing flats
which are then sold or rented out.
Both public housing flats and private property or apartments
are available for rental and sale, but with different
requirements.
Based on the existing regulations, a permanent resident or an
employment pass holder, who is 21 years of age or older, and does
not own a private property in Singapore, is allowed to rent
public flats at market prices under the Jurong Town Corporation's
(JTC) Scheme For Housing Foreign Talent (ShiFT).
Temporary residents who only possess a professional or social
visit pass are not allowed to rent public flats, while the sale
of such properties is restricted to citizens and permanent
residents.
"These flats are unfurnished and are rented on three-year
leases," according to the latest Singapore Fact Sheet Series.
Unlike public flats, all foreigners are free to buy private
property as long as they have proper stay permits, and provided
the building is more than six floors high.
Only Singapore citizens and permanent residents can buy landed
property.
When planning your house-hunting strategy, you would be well
advised to consider things such as budget, location, required
facilities and the availability of public transport. If you have
a limited budget, or, for some reason, you want to live
thriftily, then try to find a public housing flat.
A public housing flat or apartment, built by HDB or the JTC,
will mean a lower rental fee. Monthly rents average S$700 for a
three room (two bedroom) flat, S$1,000 for a four room (three
bedroom), S$1,300 for a five room (three bedroom with separate
dining area) and S$1,500 for an executive (three bedroom with
separate dining area) flat.
The rent is relatively low because these bodies do not pay any
commission to agents and also because there is an official policy
to encourage foreigners to come to Singapore to work. However,
there is only a small number of such apartments available.
However, if budget isn't an issue for you, then you can rent
an apartment in a prime district such as Orchard Road, around
Holland Road, Tanglin Road, River Valley, and Bukit Timah. The
district offers luxurious apartments where rents are a lot
higher.
The west coast and east coast are other popular residential
areas. If you have a rental budget of S$3,300 a month, you can
get an apartment measuring 1,399 sq ft to 3,000 sq ft. But if you
have S$8,000 a month to spare, you can rent a luxurious apartment
complete with facilities such as swimming pool, tennis courts and
gym. If you are willing to spend between S$18,000 - S$30,000, you
can rent a first class bungalow with lots of room and a big
garden.
When you have found a property that you like, the procedure
is as follows:
* Sign a letter of intent (prepared by the agent) and pay a
deposit normally equivalent to one month's rental.
* Sign the tenancy agreement and pay a further deposit, again
equivalent to one month's rent and pay one month's rent in
advance. Lease periods are normally one to two years.
* At the time of signing the tenancy agreement it is normal for
the agent to collect the stamp duty. It is the tenant's
responsibility to pay the stamp duty on rented property. Duty is
approximately 4.8 percent of the monthly rental value for each
year of a lease.
* Carefully inspect the property with either the agent or the
landlord and take note of any defects in the property and/or
contents.
* Sign and agree an inventory list (presented by the landlord).
This is a list of all property contents included in the lease and
notes the condition of each. It is expected that the contents
will be in the same condition at the end of the lease period. It
is important that this list be checked carefully to avoid
possible arguments later.
Stephen Ng, an Indonesian who is eligible to buy a condominium
in Singapore, commented: "In general, the regulations are pretty
straightforward. "Despite the strict housing rules, many
Indonesians move to Singapore for education purpose.
"What encouraged me to buy a condominium there in 1996 was
mainly investment purposes. Singapore is a gateway place," he
said, adding, "A return ticket to Singapore is cheaper than one
from Bali to Jakarta."
Indonesians, like other citizens of the Association of South
East Asian Nations (ASEAN) are not required to apply for visas
when visiting as tourists. But if you intend to visit for social,
business or study purposes, you will need special passes.
The Singapore government also allows you to apply for
permanent residence before coming to Singapore or after starting
work in Singapore.
Those eligible to apply include, employment pass holders,
entrepreneurs or investors, a spouse wife or unmarried children
(below 21 years old) of a Singapore citizen or permanent
resident, and aged parents of a Singapore citizen.
The government has relaxed its rules on permanent residents,
with several changes to the existing PR application and work
permit regulations being made in 1999.
The changes are in line with the government's policy of
attracting foreign talent to Singapore, as well as an attempt to
make the granting of PR status more transparent and
comprehensive. Included in the changes are the government's move
to now allow a Singaporean woman to sponsor her foreign husband
for PR status as long as the wife, or the family, has the means
of self-support.