More flexible and more accessible Public Housing for Singaporeans
The Housing and Development Board (HDB) is looking into making the "Two-Room Flexi" housing scheme more accessible and flexible for prospective buyers. The income ceiling for new HDB flats could also be raised soon so more Singaporeans will be able to opt for HDB flats.
Minister for National Development Minister Khaw Boon Wan first talk about merging studio apartments with two- room flats in the same category during the Budget debate in March and offering buyers different lease lengths for the same flat type. “We need to be flexible to allow (leases of) 30 years, 35 years, 40 years, 45 years,” he elaborated during a live radio show on Tuesday, 23 June 2015.
He said: “It will aim to give buyers more flexible leases depending on their individual needs".
However, there will be restrictions on lease. Young couple may not be allowed to buy shorter than (a) 99-year lease as the lease may run out much sooner than owners’ life expectancy.
Mr Khaw also hinted that the income ceiling for new HDB flats purchase could be raised soon. The proposed changes could be announced as early as August or September.
The last time the income ceiling for Build-to-Order (BTO) flats was raised was in 2011, from S$8,000 to S$10,000. Likewise for executive condominiums, the income limit was raised in 2011 from S$10,000 to S$12,000.