Mr Gan Thiam Poh, MP for Pasir Ris-Punggol GRC COS MND Monday, 10 March 2014 Booking System and Income Ceiling Mr Chairman, I would like to ask if the Ministry would consider reviewing the present booking system to enable HDB to better gauge and respond to potential buyers demands. What are the measures being planned to engage buyers earlier and anticipate bookings for flats? In addition, would the Ministry be able to provide more information earlier to potential applicants regarding the site plans and the details of the flats? Secondly, I would like to suggest that HDB consider removing the income ceiling for all first-time buyers. The Minister has always made it clear that when formulating housing policies, he is guided by the important social objectives of encouraging our young to get married and to have children as soon as they get married. I totally agree with him that young healthy parents provide the best chances for their children. However, most Singaporean couples today will not start a family until they have settled into their own homes. They work hard at their jobs to accumulate savings first – for their weddings and the deposits on their flats. In this sense, they are being responsible and independent which is commendable. By the time they feel financially stable, a number of them face another problem – they hit the income ceiling of $10,000 and no longer qualify for a purchase flat directly from HDB. At the same time, resale flat prices are still on the high side and they can’t quite afford the hefty downpayment required for a private condominium. They end up postponing childbearing even further. I hope we can allow this sandwiched group to purchase new HDB flats, albeit with less subsidies, tiered according to their incomes. Thank you.
Posted on: Tue, 11 Mar 2014 16:08:31 +0000