HOUSING AND DEVELOPMENT BOARD FLATS (Revision of income ceiling)

Dr S. Vasoo asked the Minister for National Development whether the income ceiling for application of Housing and Development Board flats will be revised.

The Minister of State for National Development (Dr John Chen Seow Phun) (for the Minister for National Development): Mr Speaker, Sir, HDB recently reviewed its public housing schemes as part of Government's effort to help lower-income families own their first homes. Under the Special Housing Assistance Programme (SHAP), the monthly household income ceiling for the 3-Room Buy-Back Scheme and Rent and Purchase Scheme has been raised from $1,500 to $2,000. Similarly, the monthly household income ceiling for the Low-Income Family Incentive Scheme, an easy mortgage loan scheme for the purchase of 4-room budget or smaller HDB flats, has been raised from $1,500 to $2,000.

In addition to SHAP, Singapore families with monthly household income of up to $8,000 are eligible to purchase a new 4-room or 5-room flat from HDB. To support extended family living, HDB also allows multi-tier families with a total household income of up to $12,000 per month to purchase a subsidised flat from HDB.

The current income ceilings are adequate to cater to the housing needs of the vast majority of Singaporean families. HDB has no plan to revise the income ceilings at this juncture.