By Mr. Propwise
Our article last week on What the Raised Income Ceiling Means for the Property Market by Dennis Ng resulted in quite a few comments from our readers. Our readers correctly pointed out that there was no raising of income ceiling for the purchase of resale flats, but only to qualify for the CPF grant when buying resale flats.
To be clear, the HDB regulations announced on August 15 stipulate that:
1. The monthly income ceiling for households will be raised from $8,000 to $10,000 for:
a. Purchasing a new flat from HDB
b. Purchasing resale flats with the CPF Housing Grant
c. Getting a HDB loan for the purchase of a new or resale flat
2. Raising the monthly income ceiling to purchase new Executive Condominiums (ECs) from $10,000 to $12,000.
There was no change to the DBSS income ceiling of $10,000.
So will the COV go ...
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