Higher income ceilings ensure 8 in 10 households continue to qualify for subsidised public housing: Chee Hong Tat
For Build-to-Order (BTO) flats, the monthly household income ceiling now stands at S$16,000 (US$12,500).
A view of HDB flats in Singapore (File photo: CNA/Lan Yu)
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SINGAPORE: Higher income ceilings for new Housing and Development Board (HDB) flats have taken effect, with National Development Minister Chee Hong Tat saying the move will help keep subsidised public housing within reach of eight in 10 Singaporean households.
For Build-to-Order (BTO) flats, the monthly household income ceiling now stands at S$16,000 (US$12,500), up from S$14,000, while for executive condominiums (ECs), it has been raised by S$2,000 to S$18,000. The income ceiling for eligible single HDB home buyers aged 35 and above has also increased from S$7,000 to S$8,000.
Prime Minister Lawrence Wong had announced the changes during his National Day Rally speech on Sunday. They are part of measures to keep public housing and ECs affordable and accessible for Singaporeans, and better support families with children, as the country seeks to encourage marriage and parenthood.
In a Facebook post on Monday (Aug 24), Mr Chee said these “increased income ceilings allow us to keep pace with income growth and ensure that 8 in 10 Singaporean households continue to qualify for subsidised public housing”.
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Noting the “encouraging results” arising from work to “sustain a robust housing supply”, Mr Chee said: “We are now in a better position to make further policy changes to support the homeownership aspirations of Singaporeans.”
The minister also highlighted Mr Wong’s announcement that first-timer families with or expecting children will have an additional ballot chance per Singaporean child from February 2027.
“These additional ballot chances will apply to all applications, including those for Prime and Plus flats as well as flats from Sale of Balance Flat exercises,” he said.
Pointing out the “dedication and support” from the Ministry of National Development and its industry partners over the years, Mr Chee said: “It has not been an easy journey to catch up with the delays caused by (the) COVID-19 pandemic, and then to sustain a robust supply of new flats.”
Over 90 BTO projects were delayed after the COVID-19 pandemic hit the construction sector hard.
“Looking ahead, we will continue to build more and build faster, coupled with careful land use planning, to support the housing needs and aspirations of different groups of home buyers, including families, seniors and singles,” Mr Chee added.
Source: CNA/rl(sn)
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