Housing Development Corporation (HDC) has revealed recipients of flats awarded under the Hiya Public Housing Scheme are not required to provide a down payment to enter the flats.
HDC has publicised the payment method for recipients of the Hiya flats. Recipients are required to pay USD 486 per month, including USD 65 as a management fee, and are required to complete the full payment within 25 years. However, recipients are exempt from the monthly payment for the first three months after signing the agreement.
While recipients are not required to provide a down payment, HDC will allow any recipient to provide the down payment if they wish, and the corporation will subtract the down payment from the total amount, and reduce the monthly payments accordingly.
HDC stated it will continue to provide the latest information on the Hiya Public Housing Scheme to the media and on its website, and that it will soon open a Viber channel as well. Furthermore, HDC stated detailed information, including measurements of the apartments will be made available on its website, since it has become difficult to showcase the apartments to the residents due to the COVID-19 restrictions.