2 days ago
Earlier keys for singles? Singapore reviews public housing age limit and income cap in bid to meet demand
SINGAPORE, Aug 11 — Singapore is considering lowering the minimum age for singles to buy Build-to-Order (BTO) flats and raising income limits for applicants, National Development Minister Chee Hong Tat said.
As reported by Singapore's CNA, the minister noted that any changes will depend on housing supply and will be announced at an 'appropriate time'.
Chee said demand for homes remains strong, fuelled partly by more young people wanting to own property. The government aims to expand eligibility for BTO flats to include families and married couples above the current S$14,000 (RM46,158) household income cap, as well as singles under the present age limit of 35.
'We are looking at whether we can reduce the age for singles to be eligible, so that singles can come in and buy BTO flats at an earlier age,' Chee was quoted as saying.
To meet demand, the Housing and Development Board (HDB) has accelerated construction after clearing Covid-19 delays.
It was reported that from 2021 to 2025, the Housing and Development Board (HDB) launched about 102,300 flats, exceeding its 100,000 target.
Between 2025 and 2027, about 55,000 BTO flats will be launched, 10 per cent more than planned, in areas including Mount Pleasant, Woodlands North Coast, Sembawang North and the former Keppel Club site.
This year, 4,500 flats with waiting times of under three years will be offered.
Private housing supply will also increase, with over 25,000 units to be launched from 2025 to 2027 via the Government Land Sales programme, adding to 45,000 units already in the pipeline for completion by 2030.
