Singapore Homeownership Costs - Maxthon

Executive Summary

While US homeowners face an average of $24,529 (SGD 33,000) annually in non-mortgage costs, Singapore homeowners typically spend between SGD 3,800-17,800 depending on property type. This case study examines the structural differences, cost components, legal framework, future outlook, and policy solutions for Singapore’s unique housing landscape

Homeownership Costs in Singapore Context

Based on the US article showing non-mortgage expenses jumping to $24,529 annually (about SGD 33,000), let me analyze how this compares to Singapore’s homeownership landscape:

Key Differences in Singapore’s Housing Structure

Singapore’s housing market operates fundamentally differently from the US:

1. Public vs Private Housing Divide

77.8% of Singaporeans live in HDB flats, 17.2% in condos, and 4.8% in landed properties Smart Wealth
Singapore’s homeownership rate is 90.8% in 2024 TRADING ECONOMICS, one of the world’s highest
The government provides substantial subsidies through CPF usage and housing grants, making HDB ownership more affordable than purely market-driven prices

2. Property Types and Associated Costs

For HDB Flat Owners:

Average prices: HDB flats cost an average of $612,497, with median at $590,000 Smart Wealth
Service & Conservancy Charges (S&CC): Monthly charges range from approximately $64 for 1-room flats to $85 for 4-room flats 99.co (approximately $768-$1,020 annually)
Utilities: Monthly electricity bills range from $80-$150 for a 4-room HDB flat, water bills $30-$50, and gas $15-$30 Rentify
Property tax: Most HDB flats pay minimal property tax; all one- and two-room HDB flats pay zero property tax in 2025, and other HDB flats are taxed at marginal rate of 4% gov.sg

For Private Condo Owners:

Average prices: Average condo price is $1,989,082, with median at $1,780,000 Smart Wealth
Maintenance fees (MCST): Monthly fees range from $300 to $700 99.co ($3,600-$8,400 annually)
Utilities: Electricity $80-250 monthly depending on usage, water and gas $30-60 monthly, plus internet $40-100 monthly Bamboo Routes
Property tax: Progressive rates based on Annual Value

Total Annual Non-Mortgage Costs Comparison

Singapore HDB Scenario (4-room flat):

S&CC: ~$1,000/year
Utilities (electricity, water, gas): ~$1,800/year
Property tax: ~$200-500/year (after rebates)
Internet: ~$600/year
Aircon servicing: ~$200/year
Total: approximately $3,800-4,100/year (USD 2,850-3,075)

Singapore Private Condo Scenario:

MCST fees: $3,600-8,400/year
Utilities: ~$2,400-3,600/year
Property tax: $1,000-5,000/year (varies significantly by property value)
Internet: ~$600/year
Aircon servicing: ~$200/year
Total: approximately $7,800-17,800/year (USD 5,850-13,350)

Major Structural Differences

1. Stamp Duties vs Ongoing Costs Singapore frontloads costs through heavy stamp duties rather than ongoing expenses:

Buyer’s Stamp Duty for properties over $3 million is 6% The Loan Connection
Singapore PRs pay 5% ABSD on first home, 30% on second properties; foreigners pay 60% ABSD Tip

2. Lower Insurance Costs Unlike the US where property insurance is a major expense, Singapore’s stable environment and condominium structures that include building insurance in MCST fees mean individual homeowners face lower insurance burdens.

3. No Homeowners Association Variability The US article mentions HOA costs adding $3,077 annually. In Singapore, MCST fees are mandatory for condos but highly standardized and regulated under the Building Maintenance and Strata Management Act.

4. Government Support Systems Singapore provides substantial relief:

Eligible HDB households receive up to 4 months of S&CC rebates in FY2024 99.co
U-Save rebates of up to $760 in FY2025 help offset utility costs Ministry of Finance
One-off property tax rebate in 2025 for all owner-occupied residential properties Ministry of Finance

Key Takeaways for Singapore Homeowners

Why Singapore’s costs are dramatically lower:

Much smaller annual burden: Even high-end condo owners in Singapore typically face $8,000-18,000/year in non-mortgage costs versus the US average of $24,529 ($33,000 SGD)
Predictable, regulated costs: MCST fees and S&CC are transparent, regulated, and predictable, unlike the US where surprise maintenance costs are common
Climate & building standards: Singapore’s tropical climate eliminates heating costs, and newer building codes mean less frequent major repairs
High-density living: Shared costs across many units in HDB blocks and condos create economies of scale

Potential concerns for Singapore:

Rising condo fees: Maintenance fees for new condos launched in 2023 range from $270-$650 monthly, excluding GST Ohmyhome, with increases averaging 5-10% annually
Aging HDB blocks: As Singapore’s older HDB estates age, major upgrading costs may increase, though these are typically heavily subsidized by the government
Property tax increases: Higher-value properties face progressive tax rates that can be substantial for investment properties

The “hidden cost” issue is less severe in Singapore because:

Transparent fee structures are mandated by law
MCST budgets are reviewed at Annual General Meetings
S&CC rates are publicly disclosed by Town Councils
Government subsidies and rebates buffer cost increases

Singapore’s integrated public housing model, strong government support, and regulated fee structures mean homeowners face significantly lower and more predictable non-mortgage costs compared to the US scenario described in the article.

1. COMPARATIVE CONTEXT

US vs Singapore: The Cost Gap

United States (2025)

Non-mortgage costs: $24,529/year (SGD 33,000)
Nearly equal to annual mortgage payments ($26,508)
69% of homeowners express regrets about costs
80% say expenses exceeded expectations

Singapore: Dramatically Different Reality

HDB owners: SGD 3,800-6,000/year
Private condo owners: SGD 7,800-17,800/year
Costs represent 15-30% of typical mortgage payments
Highly regulated and predictable cost structures

2. DETAILED COST ANALYSIS BY PROPERTY TYPE

Case Study A: HDB 4-Room Flat Owner (Median Scenario)

Profile: Mr. and Mrs. Tan, 35 and 33 years old, purchased a 4-room resale HDB flat in Tampines for SGD 590,000 in 2024.

Annual Non-Mortgage Costs Breakdown:

Annual Non-Mortgage Costs Breakdown:

Expense Category	Monthly Cost	Annual Cost
Service & Conservancy Charges (S&CC)	$85	$1,020
Utilities (Electricity)	$120	$1,440
Water & Gas	$45	$540
Internet & Mobile Bundle	$50	$600
Property Tax (owner-occupied)	$30	$360
Aircon Servicing (2 units)	–	$200
Minor Repairs & Maintenance	$50	$600
Fire Insurance	$8	$96
TOTAL	$388	$4,856

Government Support Received (FY2025):

S&CC rebate: 2.5 months ($212.50)
U-Save rebate: $380
Property tax rebate: $60
Net Annual Cost: SGD 4,204

Mortgage Payment Context:

Loan amount: $472,000 (80% LTV after $118,000 down payment)
Interest rate: 2.6% (HDB concessionary loan)
Monthly payment: $1,873
Annual mortgage: $22,476

Cost-to-Mortgage Ratio: 18.7%

Case Study B: Private Condo Owner (Mass Market)

Profile: Ms. Lim, 40, single professional, purchased a 2-bedroom condo in Sengkang for SGD 1,200,000 in 2023.

Annual Non-Mortgage Costs Breakdown:

Annual Non-Mortgage Costs Breakdown:

Expense Category	Monthly Cost	Annual Cost
MCST Maintenance Fees	$380	$4,560
Sinking Fund Contribution	$80	$960
Utilities (Electricity)	$150	$1,800
Water & Gas	$45	$540
Internet	$50	$600
Property Tax (owner-occupied)	$185	$2,220
Aircon Servicing (3 units)	–	$300
Home Insurance	$40	$480
Minor Repairs	$35	$420
TOTAL	$965	$11,880

Mortgage Payment Context:

Loan amount: $900,000 (75% LTV)
Interest rate: 3.8% (bank loan)
Monthly payment: $4,200
Annual mortgage: $50,400

Cost-to-Mortgage Ratio: 23.6%

Case Study C: Luxury Condo Owner

Profile: Mr. Chen, 50, business owner, owns a 4-bedroom condo in District 10 (Bukit Timah) valued at SGD 3,800,000.

Annual Non-Mortgage Costs Breakdown:

Annual Non-Mortgage Costs Breakdown:

Expense Category	Monthly Cost	Annual Cost
MCST Maintenance Fees	$650	$7,800
Sinking Fund Contribution	$150	$1,800
Utilities (Electricity – high usage)	$280	$3,360
Water & Gas	$60	$720
Internet & Premium Services	$100	$1,200
Property Tax (owner-occupied)	$395	$4,740
Aircon Servicing (5 units)	–	$500
Home Insurance (comprehensive)	$85	$1,020
Minor Repairs & Upgrades	$100	$1,200
Security/Concierge Tips	$30	$360
TOTAL	$1,850	$22,700

Cost-to-Mortgage Ratio: Still only 25-30% of typical mortgage payments

3. LEGAL FRAMEWORK & REGULATORY IMPACT

Primary Legislation Governing Homeownership Costs

A. Building Maintenance and Strata Management Act (BMSMA)

Key Provisions:

Mandates formation of Management Corporation Strata Title (MCST) for all condominiums
Requires transparent accounting and annual general meetings
Establishes mandatory contributions to maintenance and sinking funds
Sets dispute resolution mechanisms through Strata Titles Boards

Cost Implications:

MCST fees must be approved by subsidiary proprietors at AGM
Sinking fund must be at least equal to maintenance account contributions
Special levies require special resolution (75% vote) for major works
Professional management agents must be licensed

Recent Changes (2024-2025):

Enhanced transparency requirements for MCST financial statements
Stricter penalties for non-payment of maintenance fees
Increased authority for managing agents to recover arrears

B. Property Tax Act

Structure for Owner-Occupied Properties:

Progressive rates from 0% to 32% based on Annual Value (AV)
First $8,000 of AV: 0%
Next $47,000: 4%
Subsequent tiers increase progressively

Non-Owner-Occupied Properties (Investment/Rental):

Flat rate of 12% on first $30,000 AV
20% on next $15,000 AV
28% on remainder

Legal Impact on Costs:

Owner-occupied properties benefit significantly from progressive rates
Property tax for median HDB flat: approximately $300-500/year
Property tax for median condo: approximately $2,000-3,000/year
Investment properties face substantially higher tax burden

C. Housing & Development Act (HDB Regulations)

Service & Conservancy Charges Regulation:

Town Councils set S&CC rates based on flat type and location
Rates subject to parliamentary oversight
Government subsidies mandated during budget surpluses
Non-payment can lead to late fees and legal action

Cost Control Mechanisms:

Transparent rate-setting process
Regular rebates during good economic times
Means-tested assistance schemes available
CPF can be used for certain HDB-related costs

D. Town Councils Act

Financial Management Requirements:

Town Councils must maintain operating and sinking funds separately
Annual audits and public disclosure required
Procurement guidelines to ensure value-for-money
Residents can attend Town Council meetings

Recent Developments (2025):

Enhanced oversight after past financial mismanagement cases
Improved transparency in contractor selection
Regular reporting on major upgrading projects

4. EMERGING COST PRESSURES & TRENDS

A. Rising MCST Fees in Private Developments

Current Trends:

New condo launches showing 15-20% higher maintenance fees than comparable 5-year-old projects
Average increase: 5-8% annually for established condos
Luxury developments now charging $800-1,200 monthly

Drivers:

More extensive facilities (multiple pools, gyms, gardens)
Higher energy costs for common areas
Increased security requirements
Professional management fees rising with inflation
Aging building systems requiring replacement

Example: Marina Bay Residences

2015 MCST fees: $450/month for 2-bedroom
2025 MCST fees: $680/month (51% increase over 10 years)
Sinking fund: Increased from $70 to $130/month
Reason: Major façade works, lift replacement, cooling system upgrade

B. Aging HDB Estates

The Challenge:

70% of HDB blocks are over 30 years old
Increasing lift breakdowns and infrastructure failures
Major systems (plumbing, electrical) approaching end-of-life

Cost Implications:

Home Improvement Programme (HIP) costs: $20,000-$50,000 per unit
Residents typically pay $2,500-$7,500 out-of-pocket after subsidies
Lift Upgrading Programme: $4,000-$8,000 per household
Ad-hoc repairs increasing S&CC requirements

Government Response:

Enhanced Lift Upgrading Programme (Extended LUP)
Home Improvement Programme 2 for estates 35+ years old
Up to 95% subsidies for lower-income households
Voluntary Early Redevelopment Scheme (VERS)

C. Energy Cost Volatility

Electricity Tariff Trends:

Q4 2024: 27.53 cents/kWh
Historical range: 17-30 cents/kWh (last 5 years)
Impact: $15-40 monthly variation for typical household

Contributing Factors:

Global oil and gas price fluctuations
Singapore’s dependence on imported natural gas
Increasing cooling needs due to rising temperatures
Gradual transition to renewable energy (potentially higher costs)

Mitigation Measures:

Open Electricity Market allows switching providers
Government utilities assistance schemes
Energy efficiency grants for older buildings

D. Climate Adaptation Costs

Emerging Expenses:

More frequent aircon servicing due to higher temperatures
Increased water consumption for cooling
Potential flood protection measures for low-lying areas
Heat-resistant building material upgrades

Projected Impact:

Additional $200-500 annually by 2030 for typical household
Higher for ground-floor and landed property owners
MCST budgets incorporating climate adaptation

5. FUTURE OUTLOOK (2025-2030)

Scenario Planning: Three Trajectories

Scenario A: Stable Growth (60% probability)

Assumptions:

Moderate economic growth (2-3% GDP annually)
Property prices increase 3-5% per year
Government maintains support schemes
No major policy shocks

Projected Annual Costs (2030):

HDB 4-room: SGD 5,500-7,000 (up 15-25%)
Mass market condo: SGD 13,000-16,000 (up 10-20%)
Luxury condo: SGD 25,000-30,000 (up 10-15%)

Key Drivers:

Utility costs: +20-30% due to energy transition
MCST fees: +25-35% for aging buildings
Property tax: Relatively stable with rebates
S&CC: +10-15% with government subsidies offsetting increases

Scenario B: High Inflation/Rapid Aging (25% probability)

Assumptions:

Higher inflation (4-5% annually)
Accelerated building aging requiring major works
Global energy crisis drives utility costs up sharply
Government fiscal constraints limit subsidies

Projected Annual Costs (2030):

HDB 4-room: SGD 7,500-9,000 (up 40-50%)
Mass market condo: SGD 16,000-20,000 (up 35-40%)
Luxury condo: SGD 30,000-38,000 (up 30-40%)

Key Concerns:

Major upgrading costs hit older estates simultaneously
Sinking fund special levies become common
Affordability stress for middle-income homeowners
Potential increase in rental rates affecting everyone

Scenario C: Policy Innovation/Tech Disruption (15% probability)

Assumptions:

Breakthrough in solar/renewable energy adoption
Smart building technology significantly reduces costs
Government introduces new homeownership cost relief schemes
Productivity gains from automation reduce management costs

Projected Annual Costs (2030):

HDB 4-room: SGD 4,500-5,500 (stable or slight increase)
Mass market condo: SGD 10,000-13,000 (minimal increase)
Luxury condo: SGD 20,000-25,000 (minimal increase)

Enablers:

Solar panels mandatory on new buildings
AI-driven building management systems
Energy storage technology breakthroughs
Enhanced CPF usage for maintenance costs

Key Indicators to Monitor

MCST Fee Inflation Rate: Target <5% annually
Utility Cost Index: Watch for >10% annual increases
Building Age Profile: Percentage of buildings >40 years
Government Subsidy Levels: Budget allocation trends
Climate Impact Costs: Extreme weather incident frequency

6. COMPREHENSIVE SOLUTIONS & RECOMMENDATIONS

For Individual Homeowners

Immediate Actions (0-12 months)

1. Understand Your Total Cost of Ownership

Request detailed MCST budget breakdown (for condo owners)
Review past 3 years of S&CC or MCST fee increases
Calculate all-in monthly cost including utilities and maintenance
Build financial buffer of 6-12 months of homeownership costs

2. Optimize Current Expenses

Switch to most competitive electricity retailer (potential savings: $15-40/month)
Install LED lighting throughout unit (savings: $10-20/month)
Service aircon regularly to maintain efficiency (prevents higher future costs)
Review home insurance for better rates (potential savings: $10-30/month)

3. Leverage Government Support

Apply for utilities assistance if eligible (up to $380/year)
Check eligibility for S&CC rebates (automatic for HDB)
Claim property tax rebates (one-off 2025 rebate available)
Explore CPF usage for specific eligible expenses

Medium-Term Strategies (1-3 years)

1. Energy Efficiency Investments

Install solar panels if in landed property (ROI: 8-12 years)
Upgrade to energy-efficient appliances when replacing (saves $20-50/month)
Consider window films to reduce cooling costs (saves $15-30/month)
Smart home systems for energy monitoring and optimization

2. Preventive Maintenance

Conduct professional home inspection every 3-5 years ($300-500 investment)
Address small issues before they become major repairs
Regular pest control to prevent structural damage
Waterproofing maintenance for bathrooms and balconies

3. MCST/Town Council Engagement

Attend AGMs and question cost increases
Volunteer for building committees to influence decisions
Push for competitive tender processes for contractors
Advocate for energy-efficient building upgrades

For Policy Makers

Short-Term Reforms (1-2 years)

1. Enhanced Transparency Requirements

Mandate standardized MCST fee disclosure format for all property listings
Require 10-year historical cost data in resale transactions
Publish comparative MCST fee benchmarks by district and facility type
Create public database of Town Council financial performance

2. Expand Financial Support

Extend U-Save rebates to cover MCST utility components
Introduce means-tested MCST fee assistance for lower-income condo owners
Allow CPF usage for major home repairs and upgrading costs
Create emergency fund for unexpected major building repairs

3. Regulatory Improvements

Cap annual MCST fee increases at CPI + 3% unless special levy approved
Strengthen oversight of managing agents to prevent cost inflation
Mandate competitive bidding for contracts above certain thresholds
Establish rapid dispute resolution for excessive fee disputes

Medium-Term Structural Changes (3-5 years)

1. Building Lifecycle Management

Implement mandatory 50-year building maintenance plans for all condos
Require stress-testing of sinking funds for major upcoming works
Introduce government-backed insurance for catastrophic building failures
Create centralized procurement platform for common services

2. Energy Transition Support

Subsidize solar panel installation for residential buildings (up to 50%)
Mandate energy efficiency ratings for all MCST-managed buildings
Provide grants for building envelope improvements (insulation, glazing)
Fast-track approvals for green building retrofits

3. Aging Estate Solutions

Accelerate VERS for estates with unsustainable maintenance costs
Introduce shared equity schemes for major upgrading costs
Create consolidated maintenance fund for HDB estates
Pilot programs for modular building component replacement

Long-Term Vision (5-10 years)

1. Reimagine Housing Cost Structure

Consider utility costs in housing affordability calculations
Explore lifecycle cost disclosure at point of purchase
Study feasibility of fixed homeownership cost products
Investigate public insurance schemes for major building repairs

2. Technology Integration

Mandate smart metering for all residential units
Develop national building management platform using AI
Create predictive maintenance systems for HDB estates
Implement blockchain for transparent MCST accounting

3. Climate Resilience

Establish mandatory climate adaptation reserves for all buildings
Provide tax incentives for heat-resistant building upgrades
Create flood protection fund for vulnerable developments
Support district-level cooling systems to reduce individual costs

For Industry Stakeholders

Property Developers

Design Phase:

Optimize building design for lower ongoing maintenance costs
Select durable, low-maintenance materials even if higher upfront cost
Right-size facilities to actual usage patterns (avoid excessive amenities)
Incorporate energy-efficient systems from outset

Sales Phase:

Provide realistic lifecycle cost projections to buyers
Disclose expected MCST fee range with justification
Offer energy performance guarantees for first 3-5 years
Create maintenance reserve fund seeded by developer

Managing Agents

Operational Excellence:

Implement preventive maintenance programs to reduce emergency repairs
Negotiate bulk purchasing agreements for common supplies
Adopt technology to reduce labor costs (automated systems, apps)
Provide quarterly cost benchmarking reports to MCST

Professional Development:

Enhanced training on cost optimization strategies
Certification in energy management
Best practice sharing across managed properties
Transparent commission and procurement practices

Financial Institutions

Product Innovation:

Develop homeownership cost insurance products
Offer payment smoothing for irregular major expenses
Create specialized loans for energy-efficient upgrades
Bundle property financing with maintenance cost planning

7. COMPARATIVE ADVANTAGES: Why Singapore Remains Affordable

Despite rising costs, Singapore maintains significant advantages over markets like the US:

Structural Benefits

1. Government Intervention Capacity

Quick policy responses to affordability concerns
Direct subsidies and rebates during economic stress
Long-term planning through CPF system
Public housing option provides market anchor

2. Regulatory Efficiency

Clear legal frameworks reduce disputes and costs
Professional licensing ensures competent management
Transparent fee structures prevent hidden costs
Mandatory sinking funds prevent sudden special levies

3. High-Density Benefits

Economies of scale in maintenance and utilities
Shared infrastructure costs across many units
Efficient service delivery (shorter distances for contractors)
Lower per-unit costs for amenities

4. Climate and Geography

No heating costs (significant expense in temperate climates)
No snow removal, freeze protection, or seasonal preparation
Smaller physical footprint of units reduces maintenance scope
Modern building stock with less legacy infrastructure

Persistent Challenges

1. Affordability Pressure Points

Rising absolute costs even if ratio to mortgage remains favorable
Middle-income squeeze: too “wealthy” for assistance, but cost-sensitive
Aging population on fixed incomes facing rising expenses
Luxury developments creating unrealistic expectation gaps

2. Intergenerational Equity

Younger buyers inheriting older flats with higher maintenance needs
Fresh HDB buyers get modern units; resale buyers face upcoming costs
Wealth gap growing between property owners and non-owners
CPF being depleted faster by housing costs, affecting retirement

3. Market Segmentation

Growing divide between HDB and private homeownership costs
Some condo owners facing HDB-level mortgage but 3x the maintenance costs
Rental market passing through all cost increases to tenants
Potential for “trapped” homeowners unable to afford staying or moving

8. CONCLUSION: A Manageable Challenge Requiring Proactive Solutions

Key Findings Summary

Singapore homeowners currently face manageable non-mortgage costs (SGD 4,000-18,000 annually vs US $24,529/SGD 33,000)
Cost trajectory is upward but not alarming (projected 10-40% increase by 2030 depending on scenario)
Legal framework provides strong foundation but requires continuous updating for emerging challenges
Government capacity to intervene remains strong through subsidies, regulations, and public housing policy
Technology and energy transition present both challenges and opportunities for cost management

Strategic Imperatives

For Policymakers: Maintain Singapore’s homeownership model advantage through proactive intervention, enhanced transparency, and targeted support for vulnerable segments while encouraging industry innovation.

For Homeowners: Adopt proactive financial planning, energy efficiency measures, and active engagement in building governance to optimize long-term costs.

For Industry: Prioritize lifecycle cost optimization over initial construction savings, embrace technology for efficiency gains, and maintain transparent, competitive pricing.

The Singapore Advantage

Unlike the US where 69% of homeowners regret their purchase due to unexpected costs, Singapore’s regulated, transparent, and government-supported system provides:

Predictability in cost structures
Multiple safety nets for financial stress
Collective problem-solving through MCSTs and Town Councils
Long-term planning capacity through CPF system

The challenge ahead is maintaining these advantages while adapting to aging buildings, climate change, and evolving resident expectations. With continued policy innovation and stakeholder cooperation, Singapore can sustain affordable homeownership even as absolute costs rise.

APPENDICES

Appendix A: Useful Resources

Government Portals:

HDB InfoWEB: www.hdb.gov.sg
IRAS Property Tax Calculator: mytax.iras.gov.sg
Town Council financial reports: respective Town Council websites
SP Utilities: www.spgroup.com.sg

Comparison Tools:

Open Electricity Market: www.openelectricitymarket.sg
Property tax calculators: Multiple online tools available
MCST fee benchmarking: URA REALIS data

Legal Resources:

Building Maintenance and Strata Management Act: Singapore Statutes Online
Strata Titles Boards: www.mnd.gov.sg/stb
Community Disputes Resolution Tribunals: www.statecourts.gov.sg

Appendix B: Glossary of Terms

MCST: Management Corporation Strata Title S&CC: Service and Conservancy Charges ABSD: Additional Buyer’s Stamp Duty AV: Annual Value (rental value used for property tax calculation) HIP: Home Improvement Programme VERS: Voluntary Early Redevelopment Scheme CPF: Central Provident Fund U-Save: Utilities-Save rebate program

Appendix C: Sample Cost Calculation Worksheet

ANNUAL HOMEOWNERSHIP COST CALCULATOR (Singapore)

Property Type: [HDB / Condo / Landed]
Property Size: [sqm]

FIXED COSTS:
Monthly S&CC/MCST: $___________ × 12 = $___________
Monthly Sinking Fund: $___________ × 12 = $___________
Annual Property Tax: $___________
Annual Home Insurance: $___________

VARIABLE COSTS:
Monthly Electricity: $___________ × 12 = $___________
Monthly Water/Gas: $___________ × 12 = $___________
Monthly Internet: $___________ × 12 = $___________

PERIODIC COSTS (estimate annual average):
Aircon Servicing: $___________
Minor Repairs: $___________
Appliance Replacement Reserve: $___________

TOTAL ANNUAL COST: $___________
LESS Government Rebates: $___________
NET ANNUAL COST: $___________

Monthly Average: $___________

Report Prepared: November 2025 Data Sources: HDB, URA, IRAS, Real Estate Witch, Singapore Government Budget Documents, Market Research Disclaimer: This case study is for informational purposes only and does not constitute financial or legal advice. Readers should consult qualified professionals for specific situations.