03 May '11, 5am

GE: Review of income ceiling for new HDB flats to be completed within 6 months

GE: Review of income ceiling for new HDB flats to be completed within 6 months

SINGAPORE : National Development Minister Mah Bow Tan has hinted that the income ceiling for new Build-To-Order (BTO) flats could be raised to S$10,000. Speaking to reporters after a walkabout in Tampines on Tuesday morning, Mr Mah said the review is being done as the property market now is more stable. Mr Mah said the review will be conducted after the election and is expected to be completed within six months. He said: "We will have to look at how much salaries have gone up, how fast and what is the affordability level. The affordability level is based on how much of their income is being used to service their loan. "So I think we will look at all these criteria and we will make sure the income ceilings, the prices, the loans, the repayments, etc, all fall into place so that the first-timers will be able to afford and will be able to buy our HDB flats." On Monday, Prime ...

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

Tweets

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channelnewsasia.com 08 May '11, 11am

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HDB's BTO projects 3 times oversubscribed

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channelnewsasia.com 01 May '11, 9am

SINGAPORE: The largest supply of new Build-To-Order (BTO) flats in a single launch since 2002 has been over-subscribed by ...