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HDB to Raise Income Ceiling

The Prime Minister yesterday announced some changes to the current HDB income ceiling of $8000 in his National Day Rally.

Those households earning $8000 to $10000 will be allowed to buy flats under the Design-Build-and-Sell Scheme (DBSS) and executive condominiums. However, they will still not be allowed to buy Build-to-order (BTO) units.

A typical four-room BTO flat costs $300,000, a DBSS flat around $500,000 and an executive condominium around $700,000.

PM Lee also mentioned that there will be 22,000 BTO units to be built next year.

There will also be moves to further cool the property market. These will be announced later today.

HDB to Raise Income Ceiling (Straits Times)

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