Letter from Alvin Eng
I REFER to the report, “Strike balance when reviewing HDB income ceiling” (May 31).
Indeed, it is important that the Housing and Development Board (HDB) strike a balance when recalibrating the income ceiling.
Just as setting it too low would render the exercise cosmetic, setting it too high could result in a surge in housing demand which could, in turn, push up prices, thereby neutralising the move.
What the article omitted, however, is the equally important need to strike a balance with respect to the timing of when the revised policy would be effective.
Young couples priced out of the private housing market due to the recent rally would have had to turn to buying HDB flats.
But some of them may have a combined income that just breached the existing ceiling (not unusual for two professionals who have worked a few years) and are, therefore, ineligible to buy HDB flats directly or receive the housing grant.
Thus, whilst reviewing the income ceiling, the HDB should consider retrospectively applying the new policy, say to Jan 1 this year, so as to allow this group to also benefit from the Government’s housing policy.
Source : Today – 1 Jun 2011
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