BTO income ceiling can be raised when 'right conditions' in place

The income ceiling for Build-To-Order (BTO) flat buyers can be raised when the “right conditions are in place”, said Senior Minister of State for National Development Sun Xueling.

- Ng Keng Gene Correspondent

The eligibility age for singles to buy BTO flats now 35 can also be lowered when there is a larger supply of flats, she told Parliament on Sept 26.

"As we build more, build faster and build better, there will be greater capacity to meet the aspirations of more Singaporeans," Ms Sun said, adding that the Government will review the income ceiling.

The purpose of the review is to keep pace with economic trends and ensure that the majority of Singaporean households remain eligible for HDB flats, she said on the fifth and final day of the debate on the President's Address.

In her speech, Ms Sun also touched on the Government's efforts to better plan new estates, as well as on how older estates will be rejuvenated.

The current BTO income ceiling, which was last revised in 2019, is $14,000 for couples and families.

Ms Sun noted that there may be young Singaporeans doing well at work and earning more, and are hence afraid they will exceed the HDB income ceiling and not be eligible for a BTO flat.

"We recognise that incomes have gone up over the years," she said, adding that the Government will therefore review the income ceiling.

Ms Sun also addressed the housing aspirations of singles, who can apply for a BTO flat only after reaching the age of 35.

She said the Government has moved to improve singles' access to flats in recent years, such as by expanding access to two-room flexi BTO flats islandwide, increasing housing grants for singles and giving singles priority when they apply to live with or near their parents.

"We understand there is still unmet demand from some singles who wish to apply for a BTO flat before reaching the age of 35," said Ms Sun.

"To make further policy moves, we need policy space and a higher supply of BTO flats."

To this end, Ms Sun said that HDB will "continue to build more, build faster and build better" in this term of government.