Early this month, I announced in Parliament a number of new measures to help various groups of home buyers. Now that we have largely cleared the queue of first-timers, we can use the ramped up supply of new flats to help other buyer groups.
We are tripling the BTO chance for second-timers in non-mature estates.
We are enhancing the Married Child Priority Scheme and introducing a new Multi-Generation Priority Scheme to help married children live with or near their parents.
We are introducing an Ageing-in-Place Priority Scheme and a Silver Housing Bonus Scheme to help our elderly right-size and age in a familiar environment.
Tomorrow, HDB will launch a bumper crop of 8,000 flats through a joint BTO and Sale of Balance Flats exercises. These flats are located in mature and non-mature estates and cover the full range of flat types.
With the wide range of flats offered, flat buyers will be able to apply for one that best meet their needs, and in an estate of their choice.
Nevertheless, we can expect strong demand for the completed/near completed flats and flats in the mature estates. So those who want to have a better chance of success should widen their choice and consider applying for a BTO flat in the non-mature estates.
I will be monitoring the application rates to see how Singaporeans are responding to the new initiatives. Clearly, nothing is cast in stone.
The results of the launch will help us calibrate the BTO rules for future launches, to ensure that the policy objectives are met. Our priority remains to help first-timers get their first HDB flat as quickly as possible, so that they can proceed to start their family.
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