Rationale for Upfront Payment for Community Care Apartments in Bukit Batok

Mr Melvin Yong Yik Chye asked the Minister for National Development (a) what is the number of applicants for the community care apartments in Bukit Batok during the February 2021 HDB BTO exercise; (b) what is the rationale for requiring seniors to pay upfront for the cost of the community care apartments in full, instead of spreading the mortgage over the lease tenure; and (c) how many applicants who are successful in their balloting exercise have appealed to pay for their community care apartments via a loan.

Mr Desmond Lee: HDB received 706 applications for the 169 Community Care Apartments in Bukit Batok offered in the February 2021 Build-To-Order Exercise.

Seniors must be at least 65 years old to buy a Community Care Apartment. To avoid seniors being burdened with debt in their retirement years, the flat price has to be paid for upfront in cash and/or CPF savings, and not financed via a loan.

As at end April 2021, HDB has not received any appeals from applicants who wish to pay for their Community Care Apartments via a loan.