Here is an overview of the resale HDB flat buying process.Step 1 and 2: Obtain an HDB Flat Eligibility (HFE) LetterApply for an HDB Flat Eligibility (HFE) letter on My Flat Dashboard for a holistic understanding of your housing and financing options before you embark on your home buying journey. The HFE letter will inform you upfront of your eligibility to purchase a new or resale flat, as well as the amounts of CPF housing grants and HDB housing loan you are eligible for. Read our frequently asked questions on the HFE letter.You may request for an In-Principle Approval from the participating financial institutions when you apply for an HFE letter. Step 3: Search for a suitable flat and obtain an Option to Purchase (OTP) from flat sellerAfter obtaining an HFE letter, you may look for a suitable flat that meets your budget and household needs.Browse resale flat listings on the HDB Flat Portal. Read our guide on finding a flat for more information on the Resale Flat Listing (RFL) service and other resources you can use to help plan and prepare for your flat purchase.You can either manage the purchase on your own or engage the service of a salesperson for a fee. Please read managing the flat purchase and consider signing up for our resale seminars to learn more about resale policies and procedures.Obtain an Option to Purchase (OTP) from the flat seller* after you have agreed on the flat price.* Sellers must have registered an Intent to Sell for more than 7 days.Step 4: Confirm mode of financingIf you intend to get an HDB housing loan, you will need a valid HFE letter^ from HDB before flat sellers may grant you an OTP.If you have indicated that you intend to get an HDB housing loan in your HFE application, the loan outcome will be reflected in your HFE letter accordingly.If you have indicated that you intend to get a housing loan from a financial institution in your HFE application, you must have a valid Letter of Offer (LO) before you exercise the OTP. You may concurrently request an In-Principle Approval and LO from participating financial institutions when applying for the HFE letter^ on My Flat Dashboard.^ Refer to Steps 1 and 2 to determine if you need a valid HFE letter.Step 5: Submit Request for ValueIf you are paying for the flat purchase with CPF savings and/ or housing loan, submit a Request for Value by the next working day after you get the OTP.This is not required if you are not using your CPF savings and any housing loan to pay for the flat purchase.Step 6: Convert In-Principle Approval (IPA) into a Letter of Offer (LO)If you have requested for an IPA while applying for the HFE letter, you can convert the IPA into an LO at this step, before exercising the OTP during the Option Period.Step 7: Submit resale applicationAfter you exercise the OTP, you and the sellers must submit the respective portions of the resale application.Step 8 and 9: Acknowledge resale documents and pay feesUpon receiving a complete resale application and the full set of supporting documents from you and the sellers, HDB will verify the eligibility of both parties and accept the resale application within 28 working days. HDB will prepare the necessary documents for you and the sellers to endorse, which will be ready about 3 weeks after the application has been accepted. You and the sellers must acknowledge and endorse the resale documents, and pay the necessary fees.Step 10: Get resale approvalAfter the documents are endorsed and fees paid, HDB will grant an approval for the resale transaction.Step 11: Attend completion appointmentResale completion is about 8 weeks from the date of HDB’s acceptance of the resale application. This is the earliest possible date to complete the transaction. If you wish to defer the completion, please discuss with your sellers and let us have a written confirmation (signed by both sellers and buyers) via MyRequest@HDB. You and the sellers will be notified via SMS of the appointment. You may also log in to My Flat Dashboard for the appointment details.Source：HDB

Pets are humans' best friends, providing loyalty, companionship, and emotional healing. Young people, in particular, place a high value on this emotional support. As a result, many individuals encounter issues related to pet ownership when renting a home. In Singapore, is it possible to keep pets while renting? What should you be aware of? Here are some relevant tips.Can You Keep Pets When Renting in Singapore?Keeping pets while renting in Singapore is not completely prohibited. It mainly depends on whether your landlord agrees and whether all aspects of your pet ownership comply with relevant laws and regulations.When keeping pets in Singapore, you first need to clearly understand and abide by the relevant laws and regulations.■The Animals and Birds Act stipulates that your designated birds, dogs, or other pets must be registered and microchipped in accordance with the standards of the International Organization for Standardization (ISO).■Under the Dog Licensing and Control Rules, to prevent and control rabies, all dogs must obtain a license by the age of 3 months. The license is valid for one year and needs to be renewed before it expires. If you fail to comply with the legal requirements for microchipping and licensing, you may face a fine of up to S$5,000.Regulations on Keeping Pets in Residential Properties：■HDB FlatsResidents are allowed to keep only one dog, and the breed must be one of the 62 approved by the Housing and Development Board (HDB). A 2-year transition period (1 September 2024 to 31 August 2026) has been introduced to allow cat owners to ease into the changes, and to meet the cat-keeping rules and licensing conditions. Cat owners must have their cat licensed by the NParks Animal & Veterinary Service (AVS) by 31 August 2026. Otherwise，keeping unlicensed pet cats will be illegal.Starting from September 1, 2024, until August 31, 2026, there will be a transition period during which HDB residents are permitted to keep cats. Pet cats must be licensed and microchipped. After September 1, 2026, keeping unlicensed pet cats will be illegal. Please refer to the guidelines from NParks Animal & Veterinary Service (AVS).■Private Residential Properties Generally, residents can keep a maximum of three pets. However, some condominium management committees may have stricter regulations regarding the types and sizes of pets allowed. Written permission from the management committee may be required. What Should You Consider When Renting with Pets in Singapore?Lease TermsBefore signing the lease, make sure that the contract clearly states the terms allowing pet ownership, including details such as the types and numbers of pets, to avoid disputes later. Undeniably, having pets is likely to cause damage to furniture, floors, walls, etc. Therefore, you may need to prepare for additional rent or a deposit and bear the corresponding repair or compensation costs.Comply with RegulationsIn public areas such as corridors, elevators, and community gardens, you need to abide by relevant regulations. Promptly clean up after your pet, keep it on a leash, and ensure that certain specific dog breeds wear muzzles to prevent them from harming people or causing disturbances to other residents.Noise ControlAvoid excessive noise from pets, especially during quiet hours, to prevent disturbing neighbors. Otherwise, you may face complaints and penalties.Hygiene and CleaningRegularly clean and groom your pet to maintain a hygienic living environment and prevent odors, which could negatively impact your home and the surrounding area.How to Find Pet - friendly Accommodation in Singapore?■Look for listings on legitimate real estate websites and contact a licensed real estate agent to confirm whether the landlord allows pet ownership and any relevant details.■Hire your own tenant's agent to help you find a suitable place and communicate your requirements.■Ensure that the accommodation has enough space for the pet to move around and rest. Also, check for nearby facilities such as pet stores, veterinary clinics, and open parks, so you can purchase pet supplies, access medical services promptly, and provide a suitable space for your pet to run and play freely. List of Popular Pet - Friendly Residences in Singapore■Some sought-after pet-friendly condominiums include:1. The Sound (East coast road)2. Costa Del Sol (ECP)3. The Bayshore (ECP)4. Mandarin Gardens (ECP)5. Condos around Fort Road and Meyer Road (Katong)6. The Sail@Marina Bay (Marina Boulevard)7. Nouvel 18 (Anderson Road)8. Leonie Condotel (Leonie Hill Road)9. Orchard Scotts (Anthony Road)10. The Clift (McCallum Street)11. J Gateway (Gateway drive)12. Braddell Heights Estate13. Reflections at Keppel Bay14. Optima (Tanah Merah)15. Gem residences located between Lorong 4 and Lorong 6 Tao Payoh（with dedicated pet-friendly amenities such as play pools)■Popular Pet Parks, where you can find some pet - friendly HDBs nearby.1. Bishan, around Ang Mo Kio Park.2. Potong Pasir Ave 13. Tai Gin Road4. Turf Club Road5. Sembawang road6. Tiong Bahru7. Yishun Central8. Hougang Ave 109. Yuan Ching Road10. Clementi Woods (West coast road)11. Pasir Ris street 5112. Koong Seng road13. Mariam way (Old Tampines Road)14. Jalan Selamat and Lengkong Tujuh15. Jalan Pari Burong and Upper Changi RoadWe recommend using Housebell, which offers a vast array of genuine property listings. All listings are sourced from CEA-registered agents to help you find your ideal home!  If you have any questions, feel free to contact the online customer service for professional assistance.

Here is an overview of the BTO flat buying process.1、Check eligibility and plan your financesYou must have a valid HDB Flat Eligibility (HFE) letter before you can apply for a flat in HDB sales launches.The HFE letter will provide you with a comprehensive understanding of your housing and financing options before you embark on your home buying journey. It will inform you upfront of your eligibility to purchase a new or resale flat, as well as the amounts of CPF housing grants and HDB housing loans you are qualify for. When you apply for an HFE letter on the HDB Flat Portal, you may also request In-Principle Approval from the participating financial institutions. Plan your finances and work out your budget.2、Apply onlineApply for a new flat on the HDB Flat Portal during a sales launch. You can subscribe to the HDB eAlert Service to be notified of upcoming sales launches.You will receive an email notification to log in to the HDB Flat Portal to check the ballot results within 2 months after the applications period has closed. The timeline for releasing the ballot results depends on the sales launch and flat supply.3、Book a flatThe booking exercise commences from 4 weeks after the release of the ballot results. It may take several months to complete, depending on the flat supply and the take-up rate. You will be invited to book a flat based on your balloted queue position, and HDB will send you an invitation about 2 weeks before your booking appointment. 4、Sign Agreement for LeaseYou will be invited to sign the Agreement for Lease within 9 months after booking a flat.5、Collect keysYou will be invited to collect the keys when your booked flat is ready. source：HDB

When buying or selling a house in Singapore, whether you are the buyer or the seller, you are likely to need a real estate agent to assist you. So, in what aspects can a real estate agent help you? And how do they charge? This article will provide you with the relevant information.Do You Need a Real Estate Agent When Buying or Selling a House in Singapore?Real estate agents play a crucial role in the real estate market in Singapore. They assist both buyers and sellers in completing transactions, providing professional advice and services, and facilitating the smooth progress of transactions.Types of Real Estate Agents in SingaporeReal estate agents in Singapore can be divided into buyer's agents and seller's agents based on the clients they serve. As the names suggest, a buyer's agent is appointed by the buyer and represents the buyer's interests, and the same goes for a seller's agent. They represent the respective positions and interests of the buyer and the seller. To avoid conflicts of interest, the Singaporean government does not allow a real estate agent to represent both the buyer and the seller simultaneously. This means that in the same transaction, an agent cannot charge agency fees from both parties.The Role of Real Estate Agents in SingaporeA buyer's agent helps homebuyers accurately match properties, provides real estate market information and property analysis, saving time and effort in searching for and viewing houses. Once a house is selected, the agent assists in price negotiations between the two parties to ensure a fair and reasonable transaction price. They can also connect with banks and lawyers on a pro bono basis to assist in coordinating relevant matters. With professional knowledge and extensive experience, a good real estate agent can provide clients with valuable professional services, enabling them to save money, time, effort, and worry.A seller's agent provides market trends and information to help sellers accurately price their properties. They create marketing materials such as photos and videos and promote the property through multiple channels, including real estate websites, social media, and industry networking. They help screen potential buyers and conduct property viewings. Once a buyer shows interest in the property, the agent assists in submitting the buyer's offer, facilitates price negotiations between the two parties, and helps the seller issue the Option to Purchase (OTP) and handle related matters. They also assist the seller in connecting with lawyers to ensure the smooth completion of the entire transaction process.Transactions Without an AgentAlthough there is no requirement to appoint an agent for a transaction, for buyers lacking experience and professional knowledge, DIYing the entire process can be not only time-consuming and labor-intensive but also carry significant risks. For example, it is easy to overlook major flaws in the property, fail to conduct basic background checks on the other party, or misunderstand the market housing price level, leading to over- or under-bidding. This could result in saving a small amount but losing a large amount, ultimately making the transaction uneconomical. Especially in price negotiations, a direct buyer without an agent is often at a disadvantage compared to a seller with an agent. It is advisable to find an agent who represents your interests to oversee all aspects of the transaction, as it is more reliable and reassuring to leave professional matters to professionals.Even in some special cases, such as when the buyer and seller are relatives or friends, you might consider handling the transaction on your own. However, to avoid legal disputes, it is advisable to seek at least the guidance of a professional.How is the Agent Fee Charged?The Council for Estate Agencies (CEA) in Singapore does not provide guidance or regulations on the commission rates charged by agents when buying or selling houses. Therefore, the agent fee is entirely influenced by market supply and demand. Generally, the agent fee is calculated as a certain percentage of the transaction price of the property. You can negotiate the percentage with the agent you hire and sign a service agreement. Note that you should pay the commission to the real estate agency, not directly to the agent. Additionally, if a real estate agent violates any regulations, you can file a complaint with the agency or the industry association CEA.The agent fees for buying and selling houses usually vary depending on the type of property being transacted, whether it is a new or second-hand property. The following are the common market situations:HDB FlatNew HDB FlatsBuyers directly apply for purchase through the HDB's flat transaction system, so they do not need to pay any agent fees.Second - hand HDB FlatsUsually, the seller pays 2% + GST to the seller's agent, and the buyer pays 2% + GST to the buyer's agent. If you handle the buying and selling process on your own without your own agent, then you do not need to pay any fees to the other party's agent. It is a serious violation if the other party's agent attempts to charge you.CondoNew LaunchDevelopers will pay the commission to the buyer's agent, and the specific commission rate is determined by the developer. That is, if you buy a new condominium from the developer, even if you are assisted with your own agent’s help, you do not need to pay the commission.This is because developers usually authorize the sales agency of the property to 1 to 4 real estate agencies and pay the buyer's agent fees for the buyers brought by these agencies. Whether you visit the show flat accompanied by your own agent and purchase your desired unit, or you visit the show flat on your own and make a purchase, the purchase price remains the same. When you decide to buy a unit, the real estate agency on duty at the show flat will assign an agent to deal with the direct buyer and receive the commission paid by the developer.Resale CondominiumsWhen buying and selling a second-hand condominium, the seller usually pays 2% + GST to the seller's agent (this may fluctuate depending on the specific situation, and in some transactions, the commission can reach 3% - 4% or even higher). The seller's agent usually shares this part of the commission with the buyer's agent, negotiating the sharing ratio between the two parties. That is, the buyer does not need to pay the commission. In the case of a direct-buyer transaction, the seller's agent will receive the full 2% + GST paid by the seller.NotesWhen choosing an agent, you should fully understand the agent's service scope, agent fees, past performance, and other relevant information to ensure the best service experience.Confirm the details of the fees, including whether there are hidden fees, newly added temporary fees, and whether the commission includes the Goods and Services Tax (GST). If your real estate agency is a GST-registered company, it can charge GST from clients. For example, if the commission amount is S$10,000 and the GST is calculated separately, the agency can charge the client S$10,900 (the prevailing GST rate is 9%).Please note that the commission should be paid to the real estate agency, not directly to the agent. Real estate agencies and agents themselves are not allowed to handle any funds involved by either party in the house transaction, including deposits, option fees, down payments, stamp duties, and purchase prices. The commission is solely for the agency service and is not included in the property transaction amount.ConclusionTo ensure the smooth progress of the transaction and protect your rights and interests, it is recommended that you find a professional and reliable agent to collaborate with at the beginning of your plan to buy or sell a house. This can help you save money, time, effort, and worry.We highly recommend using Housebell, which offers a vast array of genuine property listings sourced exclusively from CEA-certified agents. This ensures safety and reliability while avoiding scams, unlicensed agents, and sub-letting issues. If you have any questions, feel free to contact the online customer service for professional assistance.

In Singapore, stamp duty is an important tax that is closely related to various fields, including real estate transactions, stock trading, and the signing of commercial contracts. This article will focus on the stamp duty in the real estate sector to help you avoid unnecessary troubles.What is Stamp Duty?Stamp duty is a tax levied on the act of creating, receiving, and accepting legally binding instruments in economic activities and exchanges. In Singapore, whether it is renting or buying/selling a property, stamp duty needs to be paid.Renting a PropertyIf the lease term is equal to or less than 4 years, the rental stamp duty is 0.4% of the total rent within the entire lease term of the contract, and it is generally borne by the tenant.Buying a Property 1、BSD - Buyer's Stamp DutyBSD is the basic tax that must be paid when buying a property in Singapore. Regardless of the buyer’s profile or the number of residential properties owned, it must be paid, and the amount is solely affected by the value of the property itself.Calculation Method: The stamp duty is calculated based on the higher of the property price (as stated in the signed sale and purchase agreement) and the market value (as stated in the property valuation report), using a progressive tax rate. The total stamp duty payable is the sum of the taxes for each applicable bracket.2、ABSD - Additional Buyer's Stamp DutyWhether ABSD needs to be paid and the amount of payment are affected by factors such as the buyer’s profile and the number of residential properties owned by the buyer. The details are as follows in the table.Selling a PropertySSD - Seller's Stamp Duty for Residential PropertySSD is payable on all residential properties and residential lands that are acquired on or after 20 February 2010 and disposed of within the holding period.Generally speaking, if a property is sold after being held for more than 3 years, the seller does not need to pay the seller's stamp duty. This is a way for the government to encourage long-term real estate investment and stabilize the real estate supply.How to Pay Stamp Duty?The traditional way of paying stamp duty requires manually affixing physical stamps to the documents. E-Stamp is a modern way of paying stamp duty, which generates and records stamp duty certificates through an electronic system, replacing traditional paper-based stamps.You can easily e-stamp your documents in any of the following ways:■e-Stamping portal■Service Bureaus (designated Singapore Post offices)■E - terminals at the Inland Revenue Authority of Singapore's Taxpayer and Business(TBSC).How to Pay the Stamp Duty Tax?Stamp duty can be paid in the following ways:■e - Nets (through the e - stamping portal);■Cheque (payment slips and cheques at cheque collection boxes or service bureaus);■Nets (at the Inland Revenue Authority of Singapore's Taxpayer and Business Service);■CashCard (at the Inland Revenue Authority of Singapore's Taxpayer and Business Service);■Cashier’s  Order (service bureaus);■Internet bank transfer.When to Pay Stamp Duty?Generally, you need to e-stamp the document before signing it. However, if you sign and e-stamp the document within the following time limits, you will not be fined:■If the document is signed in Singapore, within 14 days after signing;■If the document is signed overseas, within 30 days after it is received in Singapore.What Happens if Stamp Duty is Paid Late?If your e - stamping is past the deadline but before the audit inspection by the Inland Revenue Authority of Singapore:■For documents stamped within 3 months after the due date, the penalty will be the higher of a minimum of S$10 or the amount of the stamp duty payable.■For documents stamped more than 3 months after the due date, the penalty will be the higher of a minimum of S$25 or 4 times the stamp duty payable.Note: For more details about stamp duty, you can view the electronic version of the Stamp Duties Act on the Singapore Statutes Online website.

Nanyang Technological University (NTU) is located in the western part of Singapore. Reowned for its high-quality educational resources and beautiful campus environment, it attracts a large number of international students. For those of you who are about to study or work at NTU, choosing a suitable place to live is of utmost importance. This article will provide you with a guide to renting accommodation near NTU to help you quickly find your desired residence.Locations for Renting near NTUNanyang Technological University (NTU) is situated in the western part of Singapore, bordered by hills to the west; herefore, when renting a house,  it is advisable to look eastward. Most students will choose the areas along the Green Line of the subway, between Pioneer Station and Jurong East Station. Since NTU is in a relatively remote location, commuting is the first factor to consider. The public transportation methods to NTU are as follows:• From Pioneer MRT Station, you can take Bus 179 or the Green Line shuttle bus directly to the interior of the campus.• From Boon Lay MRT Station, you can take Bus 179 or Bus 199 directly to the interior of the campus. Here is the terminal station of these two buses, offering greater convenience. However, the route of Bus 199 is more circuitous and takes longer. Alternatively, you can also take the MRT from Boon Lay MRT Station to Pioneer MRT Station and then take the Green Line shuttle bus. Even if you walk, it only takes 12 minutes between the two subway stations, which is very close.• For locations farther away, it is recommended to take the MRT to either of the two aforementioned stations and then transfer to the bus or shuttle bus.The following is an introduction to the rental and living situations near the Green Line subway stations.PioneerTransportation: Direct access by Green Line shuttle bus/Bus 179Dining and Shopping: Pioneer Mall, food courtsHousing: Mainly HDBBoon LayTransportation: Direct access by Bus 179/Bus 199, take the MRT to Pioneer and transfer to the shuttle bus or another busDining and Shopping: Jurong Point shopping mall is located right outside the MRT station, offering a one-stop solution for clothing, food, housing, and transportation.Housing: Mainly HDB. There is a popular condo, The Centris, adjacent to Jurong Point. Coliwoo here is also a popular choice among students. Lakeside - Chinese GardenTransportation: Take the MRT to Pioneer and transfer to the shuttle bus or another busDining and Shopping: This area primarily features shophouses and hawker centers in HDB zones, offering affordable and down-to-earth dining and shopping options.Housing: There are numerous condos, typically newer in age, offering good environment and scenic views.Jurong EastTransportation: Take the subway to Pioneer and transfer to the shuttle bus or another bus. Jurong East is also an interchange station for the Green Line and Red Line MRT.Dining and Shopping: Jurong East serves as the largest commercial district in the western part of Singapore. Shopping centers such as IMM, JEM, and Westgate offer comprehensive amenities for dining, shopping, and entertainment.Housing: There are very few condos, and the rental prices is relatively high.Summary:• The area from Pioneer to Boon Lay is the closest to the school and has direct access by bus/shuttle bus without the need for transfer. The houses are mainly HDB, and condos are even more popular. The surrounding amenities are relatively convenient.• In the area from Lakeside to Chinese Garden, there are more condo options with good scenery, but the supporting facilities are slightly lacking.• Jurong East is the farthest, with high prices and the fewest options, but it is the most prosperous, with complete supporting facilities and more convenient access to the city center.When choosing a rental property, the closer it is to the subway line, the more convenient the commute. However, be careful that the room is not directly facing the railway line to avoid vibrations and noise when the MRT passes.Types of Rental Housing in SingaporeResidential properties in Singapore are mainly divided into two types: HDB flats and private condos.HDB FlatsHDB flats are public housing built by the Singapore government as affordable options. They are usually located near hawker centers and public transport, making life convenient. However, the environment and facilities may not be as good as those in condominiums. HDB flats do not have gated communities, and each block is assigned a unique number to help locate specific flats. The government imposes strict regulations on renting out HDB flats.Rent：Common room: $800-$1200, Master bedroom: $1300-$2000Lease Term:Minimum 6 monthsPrivate CondosPrivate condominiums are similar to commercial housing estates in China. They have gated environments with comprehensive facilities such as swimming pools, gyms, clubhouses, and 24-hour security. They offer a higher standard of living and a more comfortable and secure residential environment.Rent：Common room: $1000-$1800, Master bedroom: $1500-$2500Lease Term:Minimum 3 monthsThere is also a commercial student apartment (co-living), which is a popular choice among many students.Student ApartmentsThere are single rooms, double rooms, and multi-person rooms. The rooms are furnished with beds, desks, wardrobes, etc., allowing for a move-in with just personal belongings. There are also shared kitchens, laundry rooms, study rooms, gyms, and other supporting facilities in the apartment, which are shared by the whole community. Generally, such apartments have central management services, and the rent includes utilities, WiFi, regular cleaning services, etc.Rent: Ranges from $500 to $1500.Lease Term: Minimum of 1 month.Rental Process and TipsRental ProcessSearch for properties → View properties → Sign tenancy agreement → Pay deposit and rent → Pay stamp duty → Move in → Move outWhen renting, always be vigilant and choose reputable platforms or certified agents to avoid rental scams.Related Articles:Rental Scams in Singapore and How to Avoid themIf you choose HDB flats, you must meet the eligibility criteria and comply with relevant regulations.Related Articles:Renting HDB flats：Eligibility Conditions and GuidelinesRenting HDB flats：Tenancy MattersRenting HDB flats：RegulationsIt is important to familiarize yourself with the tenancy agreement, obligations during the lease period, and move-out requirements to avoid disputes.Related Articles:Singapore Rental Guide: Easily Find Your Ideal HomeTenants must see：Singapore Tenancy Agreement and Key TermsIt is recommended to use Housebell to find houses，which is reliable, convenient, and hassle-free. If you have any questions, you can contact the online customer service, and they will provide you with professional assistance.

The National University of Singapore (NUS), as one of the top-notch institutions of higher learning in Asia, draws a large number of international students to pursue their studies. However, finding a suitable place to live can be a daunting task for those newly arrived international students. This article will present a comprehensive guide to renting accommodation near NUS to assist you in finding your desired residence.Locations for Renting near NUSThe NUS campus is vast, and its various faculties are scattered across different directions. Therefore, students from different faculties can consider renting in nearby areas. The distribution map of NUS faculties is as follows:Zooming out, you can observe the distribution of the areas around NUS. ▲Yong Siew Toh Conservatory of Music, College of Design and Engineering, Faculty of Arts and Social Sciences, NUS Computing, Business School, YIH, RMI, and ISS are all situated on the west and south sides of the campus, close to Clementi and the West Coast.▲The Faculty of Science and the Yong Loo Lin School of Medicine are on the east side of the campus and are relatively near One North, Dover, and Queenstown.▲The School of Continuing and Lifelong Education is located in Utown, on the north side of the campus. Clementi and Dover are convenient accommodation options.▲NUS Law faculty and the Lee Kuan Yew School of Public Policy are not on the main campus but are located at the Bukit Timah Campus. Houses around this area can be taken into account. There are also shuttle bus services between the main campus and the Bukit Timah Campus, with a journey time of about half an hour.Zooming out even further, you’ll find more diverse options.▲Closest to the School (Orange)Clementi, West Coast, One North, and Dover are the nearest to the school. The closest ones are within a ten-minute walking distance to the school, but such accommodation is scarce and rather old. Those a bit further away require a commuting time of about twenty minutes. Since these places are the most convenient, the accommodation tends to be in high demand. There are more options in Clementi and West Coast, so you can look in this area. The accommodation in One North and Dover is relatively limited.▲Better Environment (Green)Jurong East, Pandan River, ULU Pandan, Holland, and Queenstown are a bit further away, but they offer a better environment and more condos. The commuting time is over half an hour, which is still acceptable. Many students choose to live near Pandan River, Buona Vista, and Queenstown. Additionally, Jurong East is the largest shopping district closest to the school, home to shopping centers like IMM, JEM, and Westgate are located.▲Further Away (Purple)Even more distant options include Chinese Garden and Bukit Timah. The former has relatively inexpensive houses but is rather far, with a commuting time to NUS of 40-50 minutes. The latter is a wealthy area with relatively expensive houses but an excellent living environment. They can also be considered as alternatives.In general, Singapore is not overly large, and there are shuttle buses on the NUS campus. Thus, it is quite convenient to live in the areas near the school. It is not necessary to live adjacent to one's faculty. Places within a 30-minute commuting distance to the school are relatively convenient and acceptable.Types of Rental Accommodation in SingaporeThere are mainly two types of residential properties: HDB flats and condos.HDB FlatsThese are subsidized housing constructed by the Singapore government and are relatively affordable. There are food courts and public transportation nearby, making life convenient. However, the environment and facilities may not be as good as those of condos. HDB flats do not have enclosed communities, and each building has a separate number (which can be used to identify a specific flat when looking for an address). But the government has a series of strict regulations on the rental of HDB flats.Rent: Common rooms range from $800 to $1200, and master rooms range from $1300 to $2000.Lease Term: Minimum of 6 months.Note: During the school opening season, the rent near NUS will increase significantly.CondosSimilar to commercial housing complexes in China, they have an enclosed community environment with complete internal supporting facilities such as swimming pools, gyms, clubs, and 24-hour security. The overall quality is higher, and one can enjoy a more comfortable and safe living environment.Rent: Common rooms range from $1000 to $1800, and master rooms range from $1500 to $2500.Lease Term: Minimum of 3 months.There is also a commercial student apartment (co-living), which is a popular choice among many students.Student ApartmentsThere are single rooms, double rooms, and multi-person rooms. The rooms are furnished with beds, desks, wardrobes, etc., allowing for a move-in with just personal belongings. There are also shared kitchens, laundry rooms, study rooms, gyms, and other supporting facilities in the apartment, which are shared by the whole community. Generally, such apartments have central management services, and the rent includes utilities, WiFi, regular cleaning services, etc.Rent: Ranges from $500 to $1500.Lease Term: Minimum of 1 month.Rental Process and PrecautionsRental ProcessSearch for accommodation and view properties - Sign the lease - Pay the deposit and rent - Pay the rental stamp duty - Move in - Check out.When renting, you must be extremely vigilant. Try to choose formal platforms and certified agents to avoid rental scam.Related Articles:Rental Scams in Singapore and How to Avoid themIf you choose to rent an HDB flat, you need to meet the eligibility requirements and comply with relevant regulations.Related Articles:Renting HDB flats：Eligibility Conditions and GuidelinesRenting HDB flats：Tenancy MattersRenting HDB flats：RegulationsRegarding the tenancy agreement, matters to note during the tenancy period, check-out requirements, etc., you need to understand them in advance to avoid disputes.Related Articles:Singapore Rental Guide: Easily Find Your Ideal HomeTenants must see：Singapore Tenancy Agreement and Key TermsIt is recommended to use Housebell to find houses，which is reliable, convenient, and hassle-free. If you have any questions, you can contact the online customer service, and they will provide you with professional assistance.

If you are planning to buy a house in Singapore, it is highly likely that you will need to apply for a mortgage loan from a bank. This article will provide you with the essential information related to this process.Loan EligibilityAs long as you are eligible to buy a house in Singapore, you can apply for a housing loan from a bank, even if you are a foreigner. Whether you are an office worker or a self-employed person, you are eligible to apply. Even investors who don't live in Singapore can also apply for a loan. However, please note that you must have proof of work income to be able to secure a loan.Loan ProcessThe first step to securing a loan is to apply to the bank for an IPA (In-Principle Approval) from the bank. The bank will comprehensively assess the purchaser's income, employment status, age, assets, credit history and other aspects, to determine the loan amount as well as provide various applicable loan schemes applicable to you. This means that the bank agrees in principle on what kind of loan services to provide to the homebuyer. However, the IPA is not a legally binding document. The IPA approval process may take 7 to 30 days, depending on whether the materials you submitted are timely, complete and accurate. Generally speaking, the validity period of the IPA is from 2 weeks to 1 month. It is recommended to apply for a relatively higher IPA amount at this stage, because after approval, you can request to reduce the amount. On the contrary, once you have paid the deposit, it may not be possible to successfully increase the amount later.Then, if you decide to take a loan from the bank, the bank will issue you a Letter of Offer (abbreviated as LO), which will list all important information, such as the loan amount, interest rate and loan lock-in period. The loan agreement becomes legally binding only when both the homebuyer and the bank sign it. After that, you can exercise the Option to Purchase (Exercise OTP) and complete the property purchase transaction.The process of applying for a mortgage loan in Singapore is as follows:1. Compare the loan schemes of multiple banks and select 1 or 2 banks as alternatives.2. Apply for an IPA.3. The bank issues the IPA.4. Select the desired property and submit a loan application to the bank.5. The bank conducts an appraisal of the property.6. The bank approves the loan application.7. The bank notifies the lawyer to prepare relevant contracts.8. Sign the housing loan agreement.9. The lawyer registers the loan agreement.10. Pay other related fees to the bank.11. The bank disburses the loan.12. Start making monthly payments.Regular Documents Required for Applying for a Mortgage Loan from the Bank: A copy of the identity document (NRIC). The latest salary slips (for the past 3 months). The latest personal income tax statements (NOA) (for the past 2 years). The latest statement of the Ordinary Account of the Central Provident Fund (CPF). The latest statement checking whether you own a HDB flat.Loan AmountThe loan amount you can obtain is affected by multiple factors, mainly including:Total Debt Servicing Ratio，TDSRThis indicator applies to the purchase of all types of residential properties.The Total Debt Servicing Ratio stipulates that only 55% of the borrower's total monthly income can be used to repay debts. These debts to be repaid include all your loans, including (but not limited to) your mortgage loan, car loan, credit card debt, and other personal loans. This means that if you have these other loans mentioned above, the amount of your mortgage loan will be affected.Monthly income includes both fixed income and non-fixed income, such as bonuses, allowances, commissions, rental income, etc. Self-employed individuals have non-fixed income. Due to its instability, generally only 70% of the actual income is counted as monthly income when applying for a loan.Mortgage Servicing Ratio，MSRThis indicator only applies to the purchase of HDB flats and Executive Condominiums (EC).The Mortgage Servicing Ratio (MSR) refers to the proportion of your total monthly income used to repay the mortgage loan. Currently, the upper limit of the MSR is 30%. For example, if your monthly income is $5,000 , you can use at most $1,500 to repay the mortgage loan.The Total Debt Servicing Ratio (TDSR) and the Mortgage Servicing Ratio (MSR) aim to encourage homebuyers to choose affordable houses and prevent excessive leverage, thus avoiding the risk of loan defaults.Loan To Value，LTVLTV refers to the ratio of the loan amount to the property value (or the purchase price, whichever is lower), that is, the percentage of the loan that can be obtained. For the purchase of the first property, the maximum LTV is 75%. Of the remaining 25%, 5% for the deposit must be paid in cash, and the other 20% can be paid in a combination of cash and the deposits in your Central Provident Fund Ordinary Account (CPF-OA).The calculation formula is: Property value = Down payment (5% in cash + 20% in cash and/or CPF OA) + Mortgage loan (up to 75% LTV).Note that in some cases of purchasing second-hand houses, the actual purchase price may be higher than the property appraisal value. For example, if you plan to buy a second-hand house, the seller quotes 1 million SGD, and the bank's appraisal value is $980,000. Then the difference of $20,000 is called Cash Over Valuation (abbreviated as COV). When applying for a loan, the lower of the two values is taken as the basis. So the maximum loan amount you can get is $980,000 × 75% = $735,000. Then the remaining $265,000 of the down payment must be paid in cash or with the Central Provident Fund. If you use the Central Provident Fund, you can use at most $980,000 × 20% = $196,000, then at least $69,000 needs to be paid in cash.Note: The situation of COV will not occur when purchasing new houses.What to Do If the Loan Amount Is Insufficient?Suppose you want to buy a house worth 1 million SGD , and the bank only gives you a loan amount of $500,000 after assessing your situation, which does not reach the maximum LTV of 75%. At this point, you can choose to: 1. Increase the proportion of the down payment and pay $500,000 as the down payment.2. Reduce the house purchase budget and consider properties with a lower total price.3. Increase the mortgage loan amount through fund verification. At this time, the difference between the current loan amount and the maximum loan amount is $250,000. The bank will calculate an amount based on this $250,000 difference and require you to deposit this amount in the bank (usually, this amount is higher than $250,000). Depending on the borrower's creditworthiness, the bank may propose that all the funds can be deposited in the bank for only 1 day, or part of the funds can be deposited for 1 day and another part can be deposited for n years. This is what people often refer to as "show fund", which can help you increase your loan amount in an indirectly way.4. In short, you should formulate a reasonable house purchase budget and loan repayment plan according to your actual situation to avoid cash flow problems and resulting losses.Mortgage Interest RatesCurrently, the fixed mortgage interest rates in Singapore range from 2.5% to 2.8%, which are relatively low worldwide. There are two models of mortgage interest rate models:Fixed RateDuring the entire loan period, the loan interest rate remains unchanged. In case the market interest rate rises later, you can still maintain a lower interest rate and save on interest payments. However, if the market interest rate drops later, you may end up paying more interest than others. The advantage of a fixed rate is that it is relatively stable, and you don't need to constantly pay attention to changes in interest rates. It is suitable for homebuyers with stable incomes or those who prefer not to worry about rate fluctuations. Generally, the fixed rate will be slightly higher than the floating rate on the market in the same period.Floating RateIt changes according to the fluctuations in a certain benchmark interest rate (SORA rate). Floating rate = SORA + Spread (adjustment spread). The advantage of a floating rate is its flexibility. If the benchmark interest rate drops, the monthly repayment amount will also decrease accordingly. However, during the period when the interest rate rises, the monthly repayment amount under the floating rate will be much higher compared to the fixed rate.Note: For new condominiums that have not yet been completed (Pre-sale properties), banks only provide floating rate schemes and do not provide fixed rate schemes. After the condominium is completed, there is usually an opportunity to change the scheme for free.Monthly Repayment MethodUnlike in China, Singapore only has the "fixed principal and interest" monthly repayment model. This means that under the same interest rate, during the entire repayment period, the total monthly repayment amount (principal + interest) remains fixed. The proportion of the principal and interest repaid each month will change over time. Initially, a larger portion of the repayment is applied to interest, with less applied to the principal. As the loan balance decreases, the portion of the principal repaid gradually increases and the portion of the interest gradually decreases. However, the total monthly repayment amount remains unchanged. If you want to repay part of the loan in advance, you will be repaying the principal, and then the repayment for the next month will be recalculated.Lock-in PeriodThe Lock-in Period refers to the validity period of the loan scheme. During the lock-in period, if you need to repay part or all of the mortgage loan in advance, or conduct refinancing through the signed bank/other banks or even sell the property, you may need to pay handling fees. If there is a possibility of early repayment, you can negotiate with the bank when applying for the mortgage loan. Some bank loan schemes may offer to waive this handling fee.If you have signed a loan scheme with a lock-in period, after the lock-in period expires, the bank will automatically change it to a higher floating rate. Therefore, it is recommended to start looking for more favorable loan schemes in the market 3 to 4 months before the lock-in period expires.Common Banks in Singapore1. Local Banks in Singapore:• UOB 大华银行• OCBC 华侨银行• DBS 星展银行• Hong Leong Finance 新加坡丰隆金融公司2. Overseas Banks：• Standard Chartered 渣打银行• Citibank 花旗银行• HSBC 汇丰银行• Maybank 马来亚银行• CIMB 联昌国际银行• RHB 马来西亚兴业银行