15 Jun '11, 1am

Couples switch to smaller HDB flats after income ceiling raised for BTO applicants

SINGAPORE - Since the Housing and Development Board (HDB) revised the income ceiling for Build-to-Order (BTO) three-room HDB flats in March, a total of 43 applicants have switched to smaller flats which they say is easier on the pocket. Under the old rules, Ms Tan Jie Ying, 23, a sales associate and her fiance, Mr Tay Choon Yao, 29, a photography producer, applied for a four-room flat. But with the income ceiling raised from S$3,000 to S$5,000, they now qualify for a three-room unit and they have made the switch. The difference in their monthly mortgage payments may not be huge, but they are thinking long term. Ms Tan said: "When we get the flat maybe we will not have just a home loan to service. We might have a car loan, we could have fees to pay for children or more bills to pay." The new income ceiling affects the Sengkang and Bukit Panjang BTO projects launched in late...

Full article: http://www.todayonline.com/Singapore/EDC110615-0000072/Co...

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