Wunderkind
21-02-15, 15:05
RAISE QUALIFYING INCOME CEILING FOR EC AND HDB
SINGAPORE: Chairman of the Government Parliamentary Committee for National Development, Lee Bee Wah, has called for the qualifying income ceiling to be raised to allow more people to buy executive condominiums (ECs) and new Housing and Development Board (HDB) flats.
Speaking ahead of the Budget statement on Monday (Feb 23), she said more middle-income couples are feeling the squeeze.
The last time HDB raised the qualifying income ceiling for homebuyers was in 2011. Then, the monthly income ceiling for those buying a Build-To-Order (BTO) flat was raised from S$8,000 to S$10,000, while the limit for those buying ECs went up from S$10,000 to S$12,000.
But amid rising incomes, there have been calls for this ceiling to be lifted further, by S$2,000-$3,000.
unquote
If income ceiling is raised, young married professionals may opt for ECs and BTO instead of private residentials as the quantum will be much lower for EC and HDB than private residentials; and what's more with no ABSD. Now, with SSD for new purchases of private residential, it really makes no significant difference for selling a private residential compared to EC and BTO.
What's the value of buying private residential versus EC and BTO if qualifying income ceiling is raised ?
SINGAPORE: Chairman of the Government Parliamentary Committee for National Development, Lee Bee Wah, has called for the qualifying income ceiling to be raised to allow more people to buy executive condominiums (ECs) and new Housing and Development Board (HDB) flats.
Speaking ahead of the Budget statement on Monday (Feb 23), she said more middle-income couples are feeling the squeeze.
The last time HDB raised the qualifying income ceiling for homebuyers was in 2011. Then, the monthly income ceiling for those buying a Build-To-Order (BTO) flat was raised from S$8,000 to S$10,000, while the limit for those buying ECs went up from S$10,000 to S$12,000.
But amid rising incomes, there have been calls for this ceiling to be lifted further, by S$2,000-$3,000.
unquote
If income ceiling is raised, young married professionals may opt for ECs and BTO instead of private residentials as the quantum will be much lower for EC and HDB than private residentials; and what's more with no ABSD. Now, with SSD for new purchases of private residential, it really makes no significant difference for selling a private residential compared to EC and BTO.
What's the value of buying private residential versus EC and BTO if qualifying income ceiling is raised ?