21 Aug '13, 9am

Set income cap for housing grants, say experts - Property Auctions News, Property Investment | PropertyGuru

Aug 21, 2013 - PropertyGuru.com.sg Comment E-mail to friend Bookmark & Share Several consultants believe that the new housing grants announced by Prime Minister Lee Hsien Loong in his recent National Day Rally speech should come with an income ceiling limiting them to only lower-middle income buyers, media reports said. According to Nicholas Mak, Research Head for SLP International, the cap should be between S$4,000 to S$5,000, as anything higher would lead to an ‘over-consumption’ of four-room flats. “It’s better to start with a low income cap, then raise it later if needed, than to start high and try to bring it down later,” he said. Ku Swee Yong, Chief Executive of International Property Advisor, suggested the cap should be S$4,000 as the grant's aim is “to help those who are at risk of not being able to afford a flat”. Meanwhile, Singaporean households have a median in...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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