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 took effect on Monday (Aug 24), with National Development Minister Chee Hong Tat saying the move will ensure subsidised public housing remains within reach of eight in 10 Singaporean households.
For Build-to-Order (BTO) flats, the monthly household income ceiling has been raised from S$14,000 to S$16,000 (US$12,500), while the ceiling for executive condominiums (ECs) has increased from S$16,000 to S$18,000.
The income ceiling for eligible single HDB buyers aged 35 and above has also increased from S$7,000 to S$8,000.
Prime Minister Lawrence Wong announced the changes during his National Day Rally speech on Sunday, as part of measures to keep public housing affordable and accessible for Singaporeans, while supporting the government's efforts to encourage marriage and parenthood.
In a Facebook post on Monday, Mr Chee said the higher income ceilings would "keep pace with income growth" and ensure that eight in 10 Singaporean households continue to qualify for subsidised public housing.
Mr Chee said the changes were possible because of "encouraging results" from efforts to sustain a robust housing supply.
"We are now in a better position to make further policy changes to support the homeownership aspirations of Singaporeans," he said.
Mr Chee also highlighted a second measure announced by Mr Wong: First-timer families with, or expecting, children will receive one additional ballot chance for each Singaporean child aged 18 and below.
The measure will take effect from the February 2027 BTO sales exercise.
"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," Mr Chee 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.
