Singapore's housing market is unique, characterized by a highly successful public housing program managed by the Housing & Development Board (HDB).
* **Public Housing (HDB):** Approximately 80% of resident Singaporeans live in HDB flats. These are heavily subsidized for first-time buyers through the Build-To-Order (BTO) system. Flats are sold on 99-year leases and range from 2-room Flexi flats to spacious 5-room and executive units. HDB estates are master-planned as self-contained towns with schools, supermarkets, clinics, and transport links. * **Private Housing:** The private market includes condominiums (which offer amenities like pools and gyms) and landed properties. Condos are popular among expatriates and higher-income locals. * **Landed Estates:** A rare commodity in land-scarce Singapore. The most prestigious are Good Class Bungalows (GCBs), which sell for tens of millions of dollars. * **Market Conditions:** The housing market is generally robust and tightly regulated. To prevent property speculation, the government periodically implements cooling measures, such as the Additional Buyer's Stamp Duty (ABSD), which is particularly high for foreign buyers and investors.
