This press release details the measures by HDB to deliver good affordable homes for all Singaporeans:
a. Increase the supply of HDB flats to help first-time homebuyers;
b. Raise the income ceilings for citizen households and singles; and
c. Increase the supply of HDB public rental flats for low-income households.
Increase in Flat Supply for First-time Homebuyers
HDB will launch 5,500 Build-To-Order (BTO) flats in September and 4,000 BTO flats in November. The flats will be in different towns, such as Punggol, Sengkang, Hougang, Yishun, and Jurong East.
The larger launches will give HDB flat buyers more housing choices in a single launch. These two launches will bring HDB’s total BTO supply this year to 25,000 flats.
HDB will complement the September BTO launch with the launch of at least 2,500 flats under a Sale of Balance Flats Exercise. Taken together, HDB will launch a record 8,000 units in September 2011, comprising 5,500 BTO flats and at least 2,500 balance flats.
For 2012, HDB will launch another 25,000 BTO flats. Besides new towns like Punggol, we will also build flats in mature estates, such as Kallang / Whampoa and Tampines.
The 2011 and 2012 BTO supply totalling 50,000 units in various parts of Singapore will provide wider choice and meet the diverse needs and aspirations of home buyers.
Raise the Income Ceilings for Citizen Households and Singles
To provide additional affordable housing options for more citizen households, HDB will raise the monthly income ceiling from $8,000 to $10,000 for the following:
a. Purchase of new flats from HDB;
b. Purchase of resale flats with CPF Housing Grant;
c. An HDB loan for the purchase of a new or resale flat.
The monthly income ceiling to purchase new Executive Condominiums (ECs) will also be increased from $10,000 to $12,000. This gives more families the added option of buying an EC, besides resale flats and private property.
It also facilitates upgrading for existing HDB flat owners. Eligible first-timer households will receive a CPF Housing Grant, tiered as follows in Table 1. There is no change to the DBSS income ceiling of $10,000, which was just raised a year ago. Table 2 summarises the income ceilings for families.
Table 1: CPF Housing Grant for EC Buyers
|Monthly household income||CPF Housing Grant|
|Not more than $10,000||$30,000|
|More than $10,000 to $11,000||$20,000|
|More than $11,000 to $12,000||$10,000|
Table 2: Monthly Income Ceilings for Families
|Category||Purchase of||HDB Loan|
|New Flats*||Resale Flats with CPF Housing Grant||New ECs|
|Current Income Ceiling||$8,000 ^||$8,000 ^||$10,000||$8,000 ^|
|Revised Income Ceiling||$10,000 ^^||$10,000 ^^||$12,000 with tiered subsidies||$10,000 ^^|
* Refers to 3-room premium flats, 3-room flats in mature estates, 4-room and bigger flats.
^ The income ceiling for an extended family is $12,000. Please refer to the HDB InfoWEB for a more detailed explanation of an extended family.
^^ The revised income ceiling for an extended family is $15,000.
Single citizens too will get more help to buy a resale flat. The monthly income ceiling for single citizens buying up to a 5-room resale flat under the Single Singapore Citizen (SSC) Scheme, with a CPF Housing Grant and HDB loan, will be increased from $3,000 to $5,000. HDB will also increase the CPF Housing Grant for single citizens from $11,000 to $15,000.
The monthly income ceiling for housing subsidies for single citizens buying a resale flat under the Joint Singles Scheme (JSS) will also be increased from $8,000 to $10,000. Similarly, the monthly income ceiling for housing subsidies for single citizens who buy a resale flat with their parents will be increased from $8,000 to $10,000. Table 3 summarises the income ceilings for singles.
Table 3: Monthly Income Ceilings for Single Citizens
|Category||Purchase of Resale Flat with CPF Housing Grant and HDB Concessionary Loan|
|Under SSC Scheme||Under JSS*||Under Higher-Tier Singles Grant**|
|Current Income Ceiling||$3,000||$8,000||$8,000|
|Revised Income Ceiling||$5,000||$10,000||$10,000|
|Current Grant Quantum||$11,000||$11,000||$20,000|
|Revised Grant Quantum||$15,000||$15,000||$20,000|
* A maximum of 2 single citizens can enjoy the singles grant under the JSS.
** This is applicable to single citizens applying for a resale flat with their parents.
The monthly income ceiling to buy Studio Apartments (SAs) will also be increased from $8,000 to $10,000. This gives more elderly households the added option of buying an SA.
The changes will be implemented with immediate effect, i.e. for applications to buy new / resale HDB flats and HDB Loan Eligibility Letter applications received from 15 Aug 2011. For ECs, the changes will be applicable to projects which are launched for public sale from 15 Aug 2011.
Increase in Supply of Rental Flats for Low-Income Households
We will also increase the supply of rental flats under the Public Rental Scheme. We had earlier committed to increasing the rental flat supply to about 50,000 units by 2012. Currently, about 46,000 HDB rental flats are available for low income Singaporean households. Another about 4,000 rental flats will complete construction by 2012.
We will also commence the development of about 7,000 rental flats in 2012 and 2013. This will increase our stock of rental flats to about 57,000 units by 2015.
For enquiries, the public can contact HDB at the following numbers:
a. Sales/Resale Customer Service Line: : 1800 8663 066
b. Branch Office Service Line : 1800 2255 432
To view details of the upcoming BTO launches in Ang Mo Kio, Jurong East, Jurong West, Punggol and Sengkang, click here. HDB has also pushed the date of 2011 Sale of Balance Flats (SOBF) exercise to September 2011.
Get a FREE American Tourister Caravan 70cm TSA luggage (worth S$260) (with min spend of S$600 within a month of Card Account Opening Date) and 2-years annual fees waiver when you sign up for a HSBC Revolution credit card at www.hsbc.com.sg.