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Yahoo
4 hours ago
- Business
- Yahoo
Priority for singles, higher quota for second-timer families to kick in from HDB's July BTO exercise
SINGAPORE – A slew of policy changes will kick in, starting with the upcoming HDB Build-To-Order (BTO) flat sales exercise in July, benefiting singles as well as families looking to upgrade or right-size their homes. Laying out the changes in a statement on July 20, the Housing Board said the one benefiting singles involves a previously announced new Family Care Scheme, meant to provide singles with priority access to BTO flats when they buy one near or with their parents. Prime Minister Lawrence Wong had announced the scheme in his first National Day Rally speech in 2024 as a means to bolster intergenerational support among families. Without the update, priority access would remain reserved only for married couples and their parents. HDB said on July 20 that first-time single buyers currently have up to 65 per cent of two-room flexi BTO flats and up to 5 per cent of Sale of Balance Flat (SBF) units set aside for them after such units are allocated to seniors. Within these quotas, up to 30 per cent of two-room flexi BTO flats and up to 2 per cent of balance flats will be set aside for first-timer singles applying under the new scheme. The remaining quotas will be for other first-timer singles, HDB said. HDB, meanwhile, specified there will be no change to the existing priority access for married couples and seniors. The new scheme has a second component that grants singles priority if they jointly apply for two units in the same BTO project with their parents. But this would kick in only from the October sales exercise, HDB said. The change pertaining to families is for those applying for a BTO unit for the second time. HDB said it will increase the allocation quota of three-room and larger flats for this group by 5 percentage points from the July exercise. This is to support these families' 'upgrading aspirations and right-sizing plans', it stated. With the change, up to 20 per cent of three-room Standard flats and up to 10 per cent of three-room Plus and Prime flats and four-room and larger flats would be set aside for second-timer families. First-timer families would, however, still have at least 80 per cent to 90 per cent of three-room and larger flats set aside for them, HDB noted. The July exercise would also see enhancements to the Deferred Income Assessment (DIA) scheme and the Fresh Start Housing Grant take effect, HDB said. The DIA scheme lets couples defer their income assessment until nearer the key collection date, so they can qualify for a bigger loan as their incomes are likely to be more stable and higher by then, without deferring their flat application. Under the enhanced DIA scheme, only one of the two parties needs to be a recent or current full-time student or national serviceman before a couple can apply for a new flat with its help. Previously, both parties needed to meet this requirement. The increase in the Fresh Start Housing Grant from $50,000 to $75,000 for second-timer public rental households with children was announced at the debate on the Ministry of National Development's budget earlier in 2025. HDB said this change, also to start from the July exercise, will help eligible second-timer families use the increased grant to buy a new two-room flexi or three-room standard BTO or balance flat on a shorter lease. About 5,500 BTO flats in Bukit Merah, Bukit Panjang, Clementi, Sembawang, Tampines, Toa Payoh and Woodlands will be launched in the July exercise, HDB said. Some 5,030 flats were launched in the last BTO exercise on Feb 10. More than 4,600 balance flats will also be up for picks in the concurrent SBF exercise to take place in July, it added. 'We will continue to refine our public housing policies to keep public housing affordable, accessible and inclusive for Singaporeans,' HDB said. Source: The Straits Times © SPH Media Limited. Permission required for reproduction Discover how to enjoy other premium articles here
Straits Times
3 days ago
- Business
- Straits Times
Priority for singles, higher quota for second-timer families to kick in from HDB's July BTO exercise
Find out what's new on ST website and app. The July exercise will also see enhancements to the Deferred Income Assessment scheme and the Fresh Start Housing Grant take effect. SINGAPORE – A slew of policy changes will kick in, starting with the upcoming HDB's Build-To-Order (BTO) flat sales exercise in July, benefiting singles as well as families looking to upgrade or right-size their homes. Laying out the changes in a statement on July 20, the Housing Board said the one benefiting singles involves a previously announced new F amily C are S cheme , meant to also provide singles with priority access to BTO flats when they buy one near or with their parents. Prime Minister Lawrence Wong had announced the scheme in his first National Day Rally speech in 2024 as a means to bolster intergenerational support among families. Without the update, priority access would remain reserved only for married couples and their parents. HDB on July 20 said first-time single buyers currently have up to 65 per cent of two-room flexi BTO flats and up to 5 per cent of Sale of Balance Flats (SBFs) set aside for them after such flats are allocated to seniors. Within these quotas, up to 30 per cent of two-room flexi BTO flats and up to 2 per cent of SBFs will be set aside for first-timer singles applying under the new scheme. The remaining quotas will be for other first-timer singles, HDB said. Top stories Swipe. Select. Stay informed. Singapore 1 in 3 vapes here laced with etomidate; MOH working with MHA to list it as illegal drug: Ong Ye Kung Singapore HSA extends hotline hours, launches new platform to report vaping offences Singapore 2-in-1 airport police robot on trial can patrol and serve as PMD with ride-hailing feature Asia Tearful relatives await news of victims in Vietnam boat capsize Singapore ComfortDelDro to discipline driver who flung relative's wheelchair out of taxi Multimedia How to make the most out of small homes in Singapore Asia Over 380,000 people affected by autogate glitch at JB checkpoint over 2 days Singapore Minor Issues: Why I didn't send my daughters to my brand-name primary school HDB, meanwhile, specified that there will be no change to the existing priority access for married couples and seniors. The new scheme has a second component which grants singles priority if they jointly apply for two units in the same BTO project with their parents. But this would kick in only from the October sales exercise, HDB said. The change pertaining to families is for those applying for a BTO for the second time. HDB said it will increase the allocation quota of three-room and larger flats for this group by 5 percentage points from the July exercise . This is to support these families' 'upgrading aspirations and right-sizing plans', it stated. With the change, up to 20 per cent of three-room Standard flats and up to 10 per cent of three-room Plus and Prime flats and four-room and larger flats would be set aside for second-timer families. First-timer families would, however, still have at least 80 to 90 per cent of three-room and larger flats set aside for them, HDB noted. The July exercise would also see enhancements to the Deferred Income Assessment (DIA) scheme and the Fresh Start Housing Grant take effect, HDB said. The DIA scheme lets couples defer their income assessment until nearer the key collection date, so they can qualify for a bigger loan as their incomes are likely to be more stable and higher by then, without deferring their flat application. Under the enhanced DIA scheme, only one of the two parties needs to be a recent or current full-time student or national serviceman before a couple can apply for a new flat with its help. Previously, both parties needed to meet this requirement. The increase of the Fresh Start Housing Grant from $50,000 to $75,000 for second-timer public rental households with children was announced at the Ministry of National Development's Committee of Supply debate earlier this year. HDB said this change, also to kick in from the July exercise, will help eligible second-timer families use the increased grant to buy a new two-room flexi or three-room standard BTO, or SBF flat, on a shorter lease. About 5,500 BTO flats in Bukit Merah, Bukit Panjang, Clementi, Sembawang, Tampines, Toa Payoh and Woodlands will be launched in the July exercise, HDB said. Some 5,030 flats were launched in the last BTO exercise on Feb 10 . More than 4,600 SBF units will also be up for picks in the concurrent SBF exercise to take place in July, it added. 'We will continue to refine our public housing policies to keep public housing affordable, accessible and inclusive for Singaporeans,' HDB said.
AsiaOne
3 days ago
- Business
- AsiaOne
Children living with or near parents to get priority in HDB sales exercises, regardless of marital status, from July , Singapore News
Singles applying for new flats can join married couples in getting priority access when they buy a home near or with their parents, beginning with the Housing Board's July 2025 sales exercise. That is when the new Family Care Scheme will kick in, said the HDB in a statement on Sunday (July 20). The launch date for the July BTO sales exercise has not been announced. News that singles can get priority during the BTO application process was first announced by Prime Minister Lawrence Wong at the National Day Rally last year. He had said that the Government will extend priority access to new flats to all parents and their children, regardless of marital status. Priority access was previously reserved only for married couples and their parents. HDB said in its statement last November that the new FCS — which has two components — streamlines three priority schemes for married couples, parents and seniors, and will also include singles. The two components are FCS (Proximity) — which will be rolled out with the July BTO sales exercise — and FCS (Joint Balloting), which will be implemented end-2025. For FCS (Proximity), both parents and children will have priority access if they are applying for a new flat to live with or near each other, regardless of marital status. This replaces the current replaces the Married Child Priority Scheme and Senior Priority Scheme. The FCS (Joint Balloting) is where parents and their children, regardless of marital status, will be able to jointly apply for two units in the same BTO project, where there are 2-room Flexi or 3-room flats in the BTO project. This will replace the current Multi-Generation Priority Scheme, which prioritises married couples and parents who live near each other in the same BTO project. More flats for second-tier families In their statement on Sunday, HDB also provided more details on the additional allocation of BTO flats for second-timer families, as earlier announced in March. Second-timer families will have an increased allocation quota of 3-room and larger BTO flats by five percentage points, said HDB. This is to support their upgrading aspirations or "right-sizing plans", they said. The proportion of BTO flats set aside for second-timer families will now be: • Up to 20 per cent (from up to 15 per cent currently) of 3-room Standard flats; • Up to 10 per cent (from up to 5 per cent currently) of 3-room Plus and Prime flats, and 4-room and larger Standard, Plus and Prime flats HDB added that at least 80 to 90 per cent of 3-room and larger flats will continue to be set aside for first-timer families. Increase in Fresh Start Housing Grant Other enhancements that will take effect from the July 2025 sales exercises include the Deferred Income Assessment (DIA) scheme and the Fresh Start Housing Grant for eligible second-timer families The DIA scheme allows eligible couples to apply for a new flat first and defer their income assessment for the Enhanced CPF Housing Grant (EHG) and an HDB housing loan until nearer to key collection. The enhanced scheme will mean that only one of the two parties will have to be studying or serving National Service where previously both parties have to meet this requirement. In addition, the Fresh Start Housing Grant will be increased from $50,000 to $75,000 to support more second-timer public rental households with children to own a flat. Eligible ST families can use the increased grant to buy a new 2-room Flexi or 3-room Standard BTO, or SBF flat, on a shorter lease, said HDB. HDB will offer over 10,000 new flats in the July sales exercise. Over half of these, or 5,500 flats, will be Build-To-Order (BTO) units, elaborated Minister for National Development Chee Hong Tat in a Facebook post on July 16. [[nid:719872]] candicecai@
CNA
3 days ago
- Business
- CNA
Some two-room BTO flats to be set aside for first-time singles who want to live near parents
SINGAPORE: The Housing and Development Board (HDB) on Sunday (Jul 20) announced the quota for Build-to-Order (BTO) two-room flats that will be set aside for first-time singles who are applying for a flat near their parents. The new Family Care Scheme (FCS), which was first announced by Prime Minister Lawrence Wong in the National Day Rally last year, comprises two components: FCS (Proximity) and FCS (Joint Balloting). PROXIMITY FCS (Proximity) allows parents and their children, regardless of marital status, priority access if they are applying for a new flat to live with or near each other. This will be rolled out in the July BTO exercise. Currently, up to 65 per cent of two-room flexi BTO flats and up to 5 per cent of Sale of Balance flats (SBF) are set aside for first-timer singles, after allocating flats to seniors. Within these quotas, 30 per cent of BTO flats and 2 per cent of SBF flats will be set aside for first-time singles applying under FCS (Proximity). This applies to Standard and Plus flats. For Prime flats, the percentages drop to 20 per cent and 1 per cent, respectively. The remaining quota will be for other first-time singles. Married couples and seniors currently have priority access under the Married Child Priority Scheme and Senior Priority Scheme when applying for new flats to live with or near their parents or married children. FCS (Proximity) will replace both of these schemes, with no change to the priority access for married couples and seniors. JOINT BALLOTING FCS (Joint Balloting) allows parents and their children, regardless of marital status, to jointly apply for two units in the same BTO project, where there are two-room flexi or three-room flats in the same project. This will start in the October BTO exercise, HDB said on Sunday. It will replace the Multi-Generation Priority Scheme for married children and parents to live near each other in the same BTO project. CHANGES FROM JULY Other changes that will start from the July BTO exercise have been announced previously. This includes HDB increasing the allocation quota of three-room and larger BTO flats for second-timer families by 5 percentage points. The revised proportion of BTO flats set aside for second-timer families: Up to 20 per cent of three-room Standard flats Up to 10 per cent of three-room plus and prime flats, and four-room and larger standard, plus and prime flats At least 80 per cent to 90 per cent of three-room and larger flats will continue to be set aside for first-time families. Changes to the Deferred Income Assessment (DIA) scheme and the Fresh Start Housing Grant for eligible second-time families will also take effect from the July BTO exercise. The DIA scheme allows eligible couples to apply for a new flat and delay their income assessment for housing grants or loans until just before they collect their keys. This will be expanded such that only one party in a couple needs to be a full-time student or national serviceman to be eligible. Previously, both parties needed to meet this requirement. The Fresh Start Housing Grant will be increased from S$50,000 to S$75,000 to support more second-timer public rental households with children to own homes. These families can use the increased grant to buy a new two-room flexi or three-room Standard BTO, or SBF flat, on a shorter lease.
Business Times
5 days ago
- Business
- Business Times
The lasting impact of FTAs amid global trade shocks
AS THE US-Singapore Free Trade Agreement (USSFTA) marks its 20th year, the United States' imposition of a 10 per cent baseline tariff on Singapore casts a long shadow over two decades of strong economic partnership between the two countries. Endorsed by the US Congress on the basis that it would 'enhance and strengthen the strong US-Singapore trade relationship', the USSFTA was the US' first free trade agreement (FTA) with an Asia-Pacific country and remains its only FTA with an Asean country. Today, sweeping tariffs imposed by the US constitute the most significant disruptions in the history of global trade. The ongoing trade war and US retreat from multilateralism seems to threaten not only US-Singapore bilateral relations but also the open, rules-based global trading system. 'The era of rules-based globalisation and free trade is over,' remarked Prime Minister Lawrence Wong in a recent ministerial statement. Unilateral measures such as tariffs, regardless of the good intentions, undermine the predictability that the existing global trading system was designed to uphold. The shift towards one-on-one negotiations, as seen in recent US trade policy, allows countries to leverage their market power at the expense of smaller countries such as Singapore that often have weaker bargaining strength. The result is weakening trust and stability in global trade. However, it is important to recognise all is not lost. Established through years of working together, institutionalised cooperation proves resilient. We believe FTAs have a lasting impact that will continue to anchor economic ties. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Quiet resilience of established institutional frameworks FTAs provide a sense of continuity in a volatile trade environment by establishing clear rules and standards. As commitments from these agreements spread across countries, the resulting regulatory harmonisation strengthens economic cooperation. The far-reaching influence of FTAs is exemplified by the USSFTA. Many of its core provisions, such as those on competition policy, have been widely replicated in subsequent US bilateral agreements and mega-regional trade deals. Shared commitments on competition policy help create a more secure and predictable legal environment for investors. Further, e-commerce facilitation provisions introduced in the USSFTA now reflect the baseline for digital trade regulation in FTAs. Newer agreements build on the digital trade rules included in the USSFTA, broadening the scope of commitments to cover nascent issues like cross-border data flows and cybersecurity. Institutional frameworks facilitated by FTAs also remain intact, sustaining stable and open channels of cooperation. For example, notwithstanding current trade disruptions, government procurement provisions in the USSFTA which provide opportunities for firms of each nation to bid on government contracts are still in effect. Singapore's Competition Act of 2004, enacted as part of its obligations under the USSFTA, further demonstrates how trade agreements can have a long-term impact on domestic legal and policy frameworks. The implications of these longstanding institutional frameworks are profound: trade and investment ties run deep. Research by Asia Competitiveness Institute finds that US exports of advanced manufacturing and professional services to Singapore have surged fivefold since the inception of the USSFTA. These exports have facilitated the creation of over half a million jobs in the US between 2000 and 2019. A recent study by the institute also finds that the USSFTA facilitated US expansion of manufacturing activities in Singapore, particularly in chemicals, pharmaceuticals and electronics. Today, the US is the top source of inward foreign direct investment for Singapore, accounting for more than half of the greenfield investments in high value-added and research-intensive sectors. Existing institutional frameworks thus stand the test of time, providing a stable foundation for robust economic relations. Enduring attraction of trade pacts FTAs continue to hold strong appeal as tools of economic integration. Many agreements are being upgraded to address emerging trade priorities, such as tackling non-tariff barriers and enhancing supply chain resilience. The Asean-Australia-New Zealand Free Trade Area (AANZFTA) Upgrade entered into force in April this year and the Asean-China Free Trade Area (ACFTA) Upgrade is slated to be formalised by October. The FTA between Singapore and the Pacific Alliance – a Latin American bloc comprising Chile, Colombia, Mexico, and Peru, and collectively representing the world's ninth-largest economy – has entered into force for three of the five signatories. New forms of institutional arrangements are also emerging to complement traditional FTAs. Digital Economy Agreements (DEAs), designed to set high-standard rules for digital trade, are increasingly becoming key instruments of economic integration. The world's first DEA, the Digital Economy Partnership Agreement (DEPA) signed in 2020, continues to attract interest from a wide range of economies. As at July 2025, seven countries – China, Canada, Costa Rica, Peru, the United Arab Emirates, El Salvador, and Ukraine – have applied to join the DEPA. Singapore and the European Free Trade Association (EFTA) also concluded negotiations on a DEA earlier this month. Talks for Asean's Digital Economy Framework Agreement, expected to be the world's first regional digital economy agreement, are slated to conclude by the end of the year. These efforts to upgrade existing FTAs and forge DEAs reflect the growing demand for forward-looking frameworks suited to evolving economic realities. In particular, countries are seeking institutional mechanisms to govern the burgeoning digital economy. A coherent digital trade governance regime enables countries to better leverage new avenues of growth in digital trade, where more than two-thirds of new value created over the next decade are expected to be driven by digitally enabled platforms. Institutionalised cooperation: a stabilising force for the future Evidently, far from abandoning institutionalised frameworks, countries are deepening and modernising them. Next-generation arrangements continue to embed legal commitments, cultivating stronger cooperation and reinforcing a rules-based system for global trade. Further, countries have continued to deepen cooperation on trade despite the current absence of US involvement. Following US withdrawal from the Trans-Pacific Partnership (TPP), the remaining member countries chose not to abandon the pact. Instead, they pushed forward with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The CPTPP is now one of the world's largest trade blocs, second only to the Regional Comprehensive Economic Partnership (RCEP) of which the US is also not a member. As Senior Minister Lee Hsien Loong notes, 'even though the US is abandoning the rules (…) the rest of the world is still there, and if we can work together, I think we have a fair shot at keeping the system up'. The dangers of a changing global trade landscape are profound and real, but continued commitment to institutionalised forms of cooperation remains a critical stabilising force that keeps the global trading system alive. Jesslene Lee is a researcher at Asia Competitiveness Institute (ACI), Lee Kuan Yew School of Public Policy. Paul Cheung is director of ACI.
