Income Ceiling for Buying New HDB Flats

Mr Lim Biow Chuan asked the Minister for National Development whether HDB will consider waiving the income ceiling for buying a HDB flat so that all Singapore citizens will have at least one opportunity to buy a subsidised flat from HDB.

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Mr Khaw Boon Wan: HDB is committed to helping Singaporeans, particularly first-timers and low-income families, to own a home. The income ceiling is in place to ensure that the Government's limited housing subsidies are given to those who need them most.

Last year, HDB raised the income ceiling for the purchase of new HDB flats from $8,000 to $10,000. The current income ceiling allows about eight in 10 households to qualify for new flats from HDB. We will periodically review and may revise the income ceiling when necessary. Meanwhile, our priority is to ramp up the supply of new flats, to address the imbalance in supply and demand. Any review to raise the income ceiling further would have to balance the objectives of allowing more people to enjoy subsidies, while bearing in mind the finite resources of the Government.

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