08 May '11, 11am

Higher income ceiling for new HDB flats good news for first-time buyers

Higher income ceiling for new HDB flats good news for first-time buyers

SINGAPORE : A higher income ceiling to qualify for new HDB flats will be good news for first-time home buyers. This is according to property analysts who said that the move will also benefit the sandwiched class most. Early this week, National Development Minister Mah Bow Tan hinted that the income ceiling for new Build-To-Order (BTO) flats could be raised to S$10,000 after the General Election (GE). Analysts have welcomed the plans to raise the income ceiling for new HDB flats, which has been S$8,000. Mohamed Ismail, chief executive officer of PropNex, said: "I think probably the ground has given a very strong signal and an indication of the sandwiched class of people stating that, 'Hey, (with) the ceiling at S$8,000, we are neither here nor there', and especially now because the younger generation are getting married much later. So on that basis, I think it is overdue an...

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

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