22 Jul '14, 3am

Would $40,000 subsidy entice parents to move out? #PR

If the government wants to encourage parents living in mature estates to join their married children in newer estates, the incentive should be at least $40,000, said Dennis Foo, Group Director at Dennis Wee Realty in media reports. This amount is equal to the subsidy for first-timers who purchase a resale flat near their parents or children, and translates to 10 percent of the price of a new four-room BTO flat. But for Chris International Property Analyst Chris Koh, the amount should be as high as $50,000 because many elderly parents are about to retire soon and will not have any more income. Last week, National Development Minister Khaw Boon Wan said the government may reward who relocate from mature estates into newer ones. This would free up units in mature estates, allowing more married couples and their parents to live near each other. Buyers of new HDB flats are not ...

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

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