You might not believe it, but the majority of people in Singapore choose to live in houses and apartment made by the government. In fact, more than 80% of individuals decide to live in in-built flats that government built.
This surprises many people because they see the Singapore as a hub of wealthy and prosperous. Well, a small part of the community is indeed rich, but the majority of people belong to the middle class. And the middle class has to live somewhere, and this type of housing is the best option in Singapore.
The best way to keep a city together
Many cities and their leaders have little say in the real estate industry, and they let the wealthy and powerful to run it. This creates the environment where there are only a few homeowners, and the majority of people are living on rent. The Singaporean government chose the other way, and half a century ago they bought the majority of the land. The area was reserved for building housing buildings in which the people could buy apartments and not live on the rent.
There is a minimal job for real estate agencies in Singapore, as the government is selling and buying apartments they build. But still, we do play a significant role as we represent the connection between homeowners and those that are interested in buying their property.
How does this form of housing work
When people say Singapore, they only talk about the center. But Singapore is much more than one big city. More than two dozens of small towns surround the center of this city. And the government builds the vast majority of housing building in those towns. An individual can buy an apartment that will be constructed in three or four years. This might not sound attractive, but the price for which you will buy it is well under the market price.
The government is also willing to buy back the real estate from owners if they have other interested parties. The price of the property will be decided by you and the potential buyer. This is where we can help you. We will represent you and try to get as much money out of the buyer as it is possible.