Residential

Minister Khaw: more help for elderly’s housing

In a post-Budget dialogue with grassroots leaders on February 23, National Development Minister Khaw Boon Wan was reported to say that the ministry will consider expanding the Lease Buyback Scheme which can aid the elderly in monetising their housing assets. The ministry is also reviewing suggestions of expanding the scheme to four and five-room flats, because as of now only elderly people who own three-room and smaller flats are eligible under the scheme.

(Source: Business Times)

Forecast drop in stamp duty not negative for property market

An analysis by The Business Times showed that the Budget’s forecast drop of 30 percent in stamp duty revenues, which seemed troubling at first, is not likely to predict a terrible year for the property market. Previously Finance Minister Tharman Shanmugaratnam’s Budget announced that revenue from stamp duties could decrease to $2.8 billion for the ...