In parliament, last month, Minister for National Development Khaw Boon Wan raised various issues related to the HDB (Housing Development Council) or the PRS public rental system. This includes ethnic quotas and waiting time for renting a public house. Mr. Khaw announced that HDB is reviewing ethnic quotas for these apartments. If you are looking for more information about property in Singapore then you can check here now.
Image Source: Google
In multicultural Singapore, public h ousing is home to 80% of the population, introducing an Ethnic Inclusion (EIP) policy for public housing to ensure a balanced mix of racial groups in each block and villas to maintain racial social cohesion.
There are currently 49,300 units of public one- and two-bedroom apartments for rent, up from 45,500 two years ago. The six-month queue time also increased compared to 2008. Then the queue time could reach 21 months when demand reached its peak.
As of December 2011, 1,500 households were within the framework of the IRH system. Both PRS and IRH are aimed at Singaporeans who are in financial need, as rents are heavily subsidized.
The PRS is managed by HDB and only offers one and two-bedroom units. Rents range from $ 26 to $ 275. Applicants with a gross household income of less than or equal to the US $ 1,500 can apply for apartments under the Family Program or the Singles Together Program, provided they meet other requirements.