Raising of income ceiling for BTO flats ensures 8 in 10 households remain eligible: Chee Hong Tat

Revising the monthly household income ceiling for Build-to-Order (BTO) flats to a higher limit of $16,000 will make sure eight in 10 Singaporean households remain eligible for subsidised homes, said National Development Minister Chee Hong Tat on Monday (Aug 24).

He said in a Facebook post: "These increased income ceilings allow us to keep pace with income growth and ensure that eight in 10 Singaporean households continue to qualify for subsidised public housing."

At the National Day Rally on Sunday, Prime Minister Lawrence Wong said more Singaporean couples are settling down at a later age and hence crossing the income ceiling of $14,000, which was last set in 2019.

Effective Monday, eligible families can apply for a HDB Flat Eligibility (HFE) letter for BTO flats, CPF Housing Grant for resale flats and HDB loans under under the new income ceiling.

The income ceiling for Singaporean singles aged 35 and above has also been raised to $8,000 from $7,000.

The income ceiling for executive condominiums (ECs) has likewise increased to $18,000 from $16,000.

PM Wong also announced on Sunday that first-timer families with or expecting children will receive one additional BTO ballot chance for each Singaporean child aged 18 and below.

The additional ballot chances will apply to all applications, including those for Prime and Plus flats as well as flats from Sale of Balance Flat exercises, according to Chee.

This will apply from the Febuary 2027 sales exercise.

In his Facebook post, Chee thanked officers from the Ministry of National Development as well as industry partners for their work and support.

"It has not been an easy journey to catch up with the delays caused by Covid-19 pandemic, and then to sustain a robust supply of new flats."

He added that the Government will continue to build more flats and faster, in conjunction with careful land use planning.

The next BTO sales exercise originally scheduled for October will be held in November instead, to give potential flat buyers sufficient time to review their housing plans and apply for a HFE letter under the revised income ceilings.

HDB will launch around 7,960 flats in Bedok, Geylang, Sembawang, Tengah, Toa Payoh and Yishun, in addition to community care apartments in Toa Payoh.

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lim.kewei@asiaone.com