Residential

HDB explores possible measures to ensure affordability of flats

To ensure that flats remain affordable, the government is considering possible measures such as reinstating the old policy where public flats can be sold only back to HDB, increasing the minimum occupation period and shortening leases. MND will also be looking into bring prices of new flats down by 30%. Other than ‘delinking’ prices of BTO flats from resale flats by offering discounts to first-timers, the government will also try to bring the prices of BTO flats down from 5.5 years of salary to four years of salary.

(Source: Business Times)

Over 80% of singles above 35 to benefit from Singles BTO scheme

National Development Minister Khaw Boon Wan explains the rational for setting the income cap at $5,000 for first-timer singles under the Singles BTO scheme which allows singles above 35 to purchase new two-room flats in non-mature ...