21 Jul '14, 11am

'Give $40k subsidy' to get parents to move, Singapore Property News, Singapore Property Guides

'Give $40k subsidy' to get parents to move, Singapore Property News, Singapore Property Guides

Mr Adnan Hajisirat with his sons Mohammad Firman (left) and Mohammad Fairuz. Mr Adnan and his wife are planning to move from Tampines to Bukit Panjang when Mr Firman gets a flat there. -- PHOTO: COURTESY OF ADNAN HAJISIRAT AT LEAST $40,000 in subsidies. Residents, analysts and agents believe that is the minimum needed to entice people living in mature towns to join their grown-up children in newer ones. Even then, the take-up rate is unlikely to be high, they told The Straits Times, because it will be hard to convince parents to uproot themselves from familiar surroundings. To strengthen family bonds, National Development Minister Khaw Boon Wan said last week that he would look into providing incentives for parents in mature estates to move out. This would allow children who wish to join their parents in mature estates to have a higher chance of buying the freed-up flats. ...

Full article: http://www.stproperty.sg/articles-property/singapore-prop...

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