Mar 8, 2013
Latest
News: After 50 years of public housing, it is good to revisit some key
policies.
That
is what National Development Minister Khaw Boon Wan spoke about in his budget
debate speech today in Parliament where he outlined a slew of new plans to make
housing more affordable and accessible for all Singaporeans.
In
a bid to prevent a property bubble and fix the temporary imbalance in housing,
the government will ramp up its construction of Build-to-Order (BTO) flats with
another 25,000 units to be launched this year.
Mr
Khaw also said BTO flat prices are kept separate from the resale HDB market
with more subsidies in place and this will continue until the market stabilizes.
Meanwhile,
singles aged 35 years and above with a monthly income of up to S$5,000 can buy
new two-room flats directly from the housing board, while all married HDB first-timers
will be able to rent more affordable rental flats while waiting for their new
flats.
The
government will also provide further assistance to first-timer married couples
under the recently launched Parenthood Priority Scheme which will be extended
to pregnant mothers starting from the BTO launch in May this year.
For second-timers, the quota for two- and three-room BTO flats in non-mature estates will be doubled from 15 to 30 percent. Moreover, five percent is to be set aside for divorced or widowed second-timers with children below 16-years of age.
To
further help divorcees who face debarment from subsidized flats, the period
will be shortened from five to three years.
The
elderly will also not be left out. More studio apartments will be built for
seniors with 50 percent reserved for those who buy near their flat or close to
their children.
At the same time, the government will cap the subletting period of flats and rooms to non-Malaysian foreigners at one-and-a-half years.
Info courtesy - PropertyGuru.com.sg
