14 Aug '11, 1pm

Qualifying income ceilings for public housing raised

SINGAPORE: The government will raise the qualifying income ceilings of households for HDB's Build-To-Order (BTO) flats and Executive Condos (EC), said Prime Minister Lee Hsien Loong in his National Day Rally speech on Sunday evening. The qualifying income ceilings of households for BTO flats will be increased from the current S$8,000 to S$10,000, and for ECs from the current S$10,000 to S$12,000. Prime Minister Lee said HDB will also build another 25,000 BTO flats next year to meet demand and keep prices of new flats stable and affordable. The pool of rental flats will also expand. About 7,000 new units will be built by 2013, and to create temporary rental units, the government will also postpone the demolition of old housing blocks under the Selective En-bloc Redevelopment Scheme (SERS). Mr Lee said the moves will ease the waiting time for needy Singaporeans who require r...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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