The Housing and Development Board (HDB) has tweaked its rules on two-room flats in mature estates by raising the monthly household income ceiling for applicants from S$2,000 to S$5,000.
The housing board said the revised ruling will provide "an additional housing option for households who prefer to live in mature estates, but whose monthly income exceeds S$2,000."
It noted that the income ceiling for two-bedroom flats in non-mature estates will remain at S$2,000 to "safeguard these flats for low-income families."
The announcement, the latest in a series of initiatives aimed at easing demand among certain buyer groups as well as promoting closer family ties, will apply to the 8,000 flats launched by the government today.
Other initiatives include giving priority to married children and their parents who want to live with or near each other and allocating more flats for second-timers in non-mature estates.
HDB said at least half of the 8,000 units will comprise Build-To-Order (BTO) flats in areas such as Bedok, Bukit Batok, Bukit Panjang, Bukit Timah, Clementi, Geylang and Toa Payoh. Meanwhile, leftover flats from previous sales exercises will make up the remaining units.
It added that 1,739 of the BTO flats in mature estates and 3,609 Sale of Balance Flats will render top priority for first-timers, with 95 percent of these flats reserved for them.
For the 2,094 BTO flats in non-mature estates, HDB said it "will triple the chance of securing a flat for second-timers from five percent to 15 percent."
Correspondingly, it said that the proportion of these flats reserved for first-timers will be reduced to 85 percent.
"Our projection suggests that the chances of first-timers will not be too greatly affected, after successive massive BTO launches in the past one year." Related Stories:HDB to launch bumper crop of 8000 flats
HDB upgraders feel pain over lower COVs
HDB responds to PropertyGuru article on public housing affordability
More from PropertyGuru:
HDB to launch bumper crop of 8000 flats
HDB upgraders feel pain over lower COVs
HDB responds to PropertyGuru article on public housing affordability
HDBs more unaffordable than private homes