Tag Archives: build-to-order

New housing policy for singles well-received: Khaw Boon Wan

Posted on 5 Aug 2013 | Comments Off on New housing policy for singles well-received: Khaw Boon Wan

National Development Minister Khaw Boon Wan said new ground has been broken with the Housing & Development Board’s (HDB) July’s Build-To-Order (BTO) exercise where eligible singles can buy new two-room HDB flats in non-mature estates.

In a blog post, Mr Khaw said the policy change was initially met with scepticism, with many predicting a lukewarm response.

Mr Khaw said HDB expects to receive more than 8,500 applicants from singles when the BTO exercise closes on Monday night.

That means more than 55 singles will compete for each two-room unit on offer for singles.

The minister said the median age of the singles who applied for the flats was about 43 years and their median monthly income was about S$1,800.

Mr Khaw remarked that the decision to focus on singles aged 35 years and above and up to S$5,000 income level was therefore appropriate.

The minister added that this new housing policy has not affected the first-timer families applying for two-room flats as their application rate is below one for now.

Mr Khaw said HDB will analyse the BTO data in greater detail to see how it can refine the next BTO exercises.

Source – CNA – 05 Aug 2013

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Income ceiling for 2-room flats in non-mature estates now S$5,000

Posted on 31 Jul 2013 | Comments Off on Income ceiling for 2-room flats in non-mature estates now S$5,000

With effect from yesterday’s Build-to-Order (BTO) launch, the income ceiling for two-room flats in non-mature estates has been raised from S$2,000 to S$5,000 — bringing it in line with the income ceiling for these units in mature estates.

In March last year, the Government raised the income ceiling for two-room flats in mature estates but decided against raising it for these flats in non-mature estates, citing the need to “safeguard” such flats for low-income families. Nevertheless, National Development Minister Khaw Boon Wan said earlier this month in a written parliamentary reply that the Housing and Development Board (HDB) was reviewing the income ceiling for two-room flats in non-mature estates.

ERA Key Executive Officer Eugene Lim said the move would alleviate the demand for three-room flats from small households earning more than S$2,000.

Separately, couples comprising a first-time buyer and a second-time buyer will now enjoy the same priority as a couple who are both first-time buyers, the HDB said yesterday. The priority for first-timer families includes a higher proportion of flat supply set aside for them, additional ballot chances and eligibility for schemes such as the Parenthood Priority Scheme and Parenthood Provisional Housing Scheme.

The change will help singles who subsequently marry after buying a two-room BTO flat to buy their new matrimonial flat. It will also benefit reconstituted families comprising a first-timer and a second-timer applicant, such as divorcees who remarry, the HDB said.

Mr Colin Tan, head of Research and Consultancy at Chesterton Suntec International, said the size of the group of potential beneficiaries is small and he did not expect any impact on the chances of first-time couples.

Source – 31 Jul 2013 – Today

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