Could you explain in layman terms what are the differences between BTO and resale flats? How would you explain the Singapore housing landscape?

BTO – cheap subsidised flats from the government. They are affordable but you don't get to pick your exact unit, as well as exact location. They also take awhile to build. So they are cheap, BUT there are trade offs.

Resale – Flats that have been on the market for at least five years, and being sold by the owners. Obviously your flat is ready, you can pick the location, you can pick the unit. But they are not subsidised.

You want a cheap flat, the owners want to sell as high as possible. The price is the result of these two forces.

Singapore's housing landscape can be summed up like this:

HDB: Most of the people, even those 'high earners' earning up to 11/12k should consider this a first choice. Don't pay too much for a HDB flat. They are meant to be affordable. (I live here!) Reasonable range, IMO: $220,000 - $500,000

Private Condos and apartments: Once you enter private territory, prices will start to sky rocket as Singapore is home to alot of wealthy foreigners. I personally would not live in a condo unless I was making $20,000 a month. What I would do though, is buy a condo for investment, and rent it out to rich foreigners, assuming Singapore can still attract wealthy and successful foreigners in the future.
Landed property: Foreigners can't own landed property in Singapore, unless they become Singaporean (which is easy if you are like James Dyson). The upper middle class Singaporeans and above mostly live here. Decent landed property prices start at $3million

The good class bungalow people: Expensive people living in expensive houses. Upwards of $10 million.

Istana: Not for sale.

Simply put: HDB is not for speculation and thus there is many restriction on the ownership of HDB. E.g. only singapore residents can buy, income ceiling, etc.

BTO means Built To Order

• Option to purchase subjected to balloting for queue

• Limitation of 1 past purchase of HDB

• Subject to income ceiling

• Generally cheaper than market resale price in the same area

• Location limited to new BTO projects released every now and then

• Long wait time for key collection (3-4 years)

Resale HDB

• Flats available for sale in the market by any seller

• No limit on past purchases

• No income ceiling

• More expensive compared to BTO

• Any location

• Faster key collection