From July, singles earning $5,000 or less will be allowed to buy new two-room flats directly from the Housing Board.
These flats will only be in non-mature estates, and buyers must be at least 35-years- old.
National Development Minister Khaw Boon Wan announced these details in Parliament today during the debate over the budget of the Ministry of National Development.
This change in policy was first promised by Prime Minister Lee Hsien Loong in last year's National Day Rally. He acknowledged that singles face limited housing options due to rising resale flat prices.
Currently, singles aged 35 years old and above can buy only resale flats. They get a cash grant of $15,000 from HDB if they earn $5,000 or less.
Mr Khaw said that the reason for the $5,000 income ceiling in the new singles policy is because this is the group facing the most financial difficulty in procuring housing.
He said that other details are still being finalised, such as how much subsidy will be given in the discounting of flat prices, and what relative priority to apply to married couples who are also balloting for similar flats.
But these details will be settled "as quickly as we can" in time for July's BTO launch, he said.
Mr Khaw also responded to MPs' calls for help for divorcees who are debarred from buying new flats for a period of five years after their divorce.
He said that this will be shortened to three years "to help them move on with their lives, especially those with children."
this thing is highly controversial I heard about this sometime ago but I didn't think they would be serious and approve it.
Granted singles have their housing needs but if people who are singles can buy flats then there is no incentive for people to get married to meet the requirement to apply for HDB flat and if people don't get married then there is no chance for children to be born - How then will this help increase birthrates?
(08-03-2013, 08:27 PM)sgd Wrote: [ -> ]this thing is highly controversial I heard about this sometime ago but I didn't think they would be serious and approve it.
Granted singles have their housing needs but if people who are singles can buy flats then there is no incentive for people to get married to meet the requirement to apply for HDB flat and if people don't get married then there is no chance for children to be born - How then will this help increase birthrates?
i doubt people choose to get married just so they can buy a flat.
in anyway, this move is not to make sure singles can own a flat, it is to make sure singles get their flats
SO they will vote for the PAP in 2016.
i think it's the right policy though - all citizens should be allowed to own (although theoretically owning hdb is leasing in disguise) their HDB as a stake in the land.
(08-03-2013, 08:27 PM)sgd Wrote: [ -> ]this thing is highly controversial I heard about this sometime ago but I didn't think they would be serious and approve it.
Granted singles have their housing needs but if people who are singles can buy flats then there is no incentive for people to get married to meet the requirement to apply for HDB flat and if people don't get married then there is no chance for children to be born - How then will this help increase birthrates?
It's not meant to increase birth-rates, IMO. Singles are a growing segment of the society (aka vocal vote block) which the Government has to cater.
Anyway, I am one of them and another single friend also commented to me when it was announced that the 5k ceiling would effectively limit the PMET group to accessing this option. The limits to 2BR would also not affect the traditional family unit.
When you are single, 35 and above, I think you would be pretty sanguine about things and a government policy is not going to be a major factor to change lifestyle.
I personally dun see any conflict with marriage. After all most ppl get married at the age group of 25-34.
It is just to ensure that the singles who are above 35 are able to afford a flat on their own given the recent rise in propeorty prices n resale and private preoperties. But i do not see as this a policy which is incentivising singlehood. It just to ensure affordability for this group of people. An inclusive growth for all in society.
2 bedroom flats are a good start for Singaporean singles, i support this notion.
Hopefully that these singles will feel more "secured" and settled in singapore, thus be willing to tie the knot, no matter how late in their life, +1 or 2 babies!
They can upgrade to 3 or more bedrooms when their family is bigger!
(08-03-2013, 08:27 PM)sgd Wrote: [ -> ]this thing is highly controversial I heard about this sometime ago but I didn't think they would be serious and approve it.
Granted singles have their housing needs but if people who are singles can buy flats then there is no incentive for people to get married to meet the requirement to apply for HDB flat and if people don't get married then there is no chance for children to be born - How then will this help increase birthrates?
Are you saying that people who remained single for whatever reason must continue to be discriminated just because they don't contribute to the birthrate?
So even though the price of housing has gone insane and they can no longer afford to buy even a public housing unit, it is just too bad for them since they choose to stay single?
Life is not just about getting married and creating babies..
I have known of young single new citizen in her twenties, bring in foreigner mum to apply four room hdb flat together as a nucleus family unit. Her father looking after house in their home country while mum flew to Singapore to stay with her, basically just to show face. Flat is under her own name as mum is a foreigner, so cannot add name as co-owner. So effectively, we have here an example of a young single new citizen owning a flat by her own name with a fly-in mum to 'stay' as a family. I bet she is not only the new young single citizen doing this method. See how generous new single citizen is being treated compared to local young single.
Quote:Are you saying that people who remained single for whatever reason must continue to be discriminated just because they don't contribute to the birthrate? So even though the price of housing has gone insane and they can no longer afford to buy even a public housing unit, it is just too bad for them since they choose to stay single? Life is not just about getting married and creating babies..
not trying to discriminate anybody but if I was a single again and now the government says I can buy a new 2br house at reduced HDB prices compares to open market and got grant some more. Once I get my new place I have a new bachelor pad what then is my motivation to find somebody to tie the knot? Grant is probably only 1 time hor?
Assuming along the way you meet someone and plan to get hitched so now you and your new partner need to get a bigger place to live you need to sell your unit that you bought at reduced prices and since you already used the grant once probably need to buy from open market a 3/4 roomer at insane open market prices as you so put it?
Would you make the sacrifice for a chance at love and do something like that?
(08-03-2013, 08:27 PM)sgd Wrote: [ -> ]this thing is highly controversial I heard about this sometime ago but I didn't think they would be serious and approve it.
Granted singles have their housing needs but if people who are singles can buy flats then there is no incentive for people to get married to meet the requirement to apply for HDB flat and if people don't get married then there is no chance for children to be born - How then will this help increase birthrates?
I think this is a very unfair statement. Singles do want to get married but how to find the right one is the problem. We are unlike the past generation where marrying is the norm. With higher expectation from the females, a lot of men are simply just brush aside. In other words, a lot of them are forced to remain single.
(09-03-2013, 12:45 AM)sgd Wrote: [ -> ]Quote:Are you saying that people who remained single for whatever reason must continue to be discriminated just because they don't contribute to the birthrate? So even though the price of housing has gone insane and they can no longer afford to buy even a public housing unit, it is just too bad for them since they choose to stay single? Life is not just about getting married and creating babies..
not trying to discriminate anybody but if I was a single again and now the government says I can buy a new 2br house at reduced HDB prices compares to open market and got grant some more. Once I get my new place I have a new bachelor pad what then is my motivation to find somebody to tie the knot? Grant is probably only 1 time hor?
Assuming along the way you meet someone and plan to get hitched so now you and your new partner need to get a bigger place to live you need to sell your unit that you bought at reduced prices and since you already used the grant once probably need to buy from open market a 3/4 roomer at insane open market prices as you so put it?
Would you make the sacrifice for a chance at love and do something like that?
The main thing about marriage is not to be able to buy a HDB. More importantly, you would have a companion when you are old and perhaps kids to look after you. In fact, this arrangement may just encourage the singles to come together and get married since life has stabilised with a flat and income and perhaps lesser problems should a couple go separate way since there are no worries about divisional of matrimonial asset.