Opportunity for First-timer Applicants Who Exceed Income Ceiling to Buy HDB BTO Flats Instead of Executive Condominiums

66 Mr Gan Thiam Poh asked the Minister for National Development whether the Government will consider providing an additional category of HDB BTO flats for first-timer applicants whose joint incomes fall between $14,000 and $16,000 and who find purchasing an Executive Condominium a financial burden.

Mr Desmond Lee: The income ceiling of $14,000 to buy a flat from the Housing and Development Board (HDB) ensures that the limited supply of new flats and significant subsidies that come with such flats is prioritised for those who need them more, such as lower- to middle-higher income families. The current income ceiling covers about eight in 10 Singaporean households.

Households whose monthly incomes fall between $14,000 and $16,000 are not limited to just Executive Condominiums. They can also choose from a wide range of resale HDB flats, for which there is no income ceiling. If they are buying a resale HDB flat to live with or near their parents or child, they will be eligible for the Proximity Housing Grant of up to $30,000. There are no plans to create a new category of Build-To-Order flats for them.