02 May '11, 12pm

Income ceiling for BTO flats may be raised #SGelections

Income ceiling for BTO flats may be raised #SGelections

THE Government is studying the possibility of raising the current $8,000 income ceiling for purchasing new flats under the Build-to-Order (BTO) scheme, Prime Minister Lee Hsien Loong said on Monday. He disclosed at a media briefing that when the $8,000 cap was raised to $10,000 for the slightly more upmarket Design, Build and Sell Scheme (DBSS) flats last year, the Government also considered lifting the income ceiling for BTO flats and resale flat subsidies. 'But we haven't done it yet because the property market was very hot and we didn't want to add more pressure on the BTO flats,' he said. He added that with wages expected to rise in a tight labour market this year, the Government will 'revisit' the income ceiling issue 'after the effects of the current round of (housing) measures become clear'. Speaking as secretary-general of the People's Action Party (PAP) at a press...

Full article: http://www.straitstimes.com/GeneralElection/News/Story/ST...

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