AFFORDABLE AND ACCESSIBLE HOUSING FOR ALL
PM Lee: We are going to do three more things to keep HDB flats affordable and accessible to all Singaporeans:
1. The income ceiling will be raised from $10,000 to $12,000 for HDB flats, and from $12,000 to $14,000 for ECs, so that more households can buy HDB and ECs.
2. We will raise the household income ceiling for Special CPF Housing Grants (SHG) from $6,500 to $8,500 so that two-thirds of all first-timer households will qualify. We will also double the maximum SHG from $20,000 to $40,000.
3. We will help those in rental flats to own a flat. With latest changes, first-timers can still afford a 2-room flat even if you earn below $1,000, if you hold a stable job and contribute to CPF regularly. The Fresh Start Housing Scheme will help second-timer rental households own a 2-room flat. The flat will have a shorter lease and stricter conditions on resale. A Fresh Start Grant will be provided to help pay for the flat. We will support the family with counsellors to guide them to solve their problems holistically. The family has to play its part, and show that they are putting their lives in order.
#ndrsg
