Speech by Pritam Singh On Income Eligibility Ceiling for HDB flats
Members of the House would have come across many young Singaporean couples looking forward to starting a family and buying their first HDB flat but for one reason of another are unable to do so or are unable to secure a flat of their choice. For some, they are unable to do so arising from the income ceiling imposed by HDB, currently set at $14,000 for a couple looking for a BTO flat, with $16,000 set as the ceiling for executive condominiums. While the HDB resale market does not impose any income ceiling, Singaporeans in general, and young families in particular remain concerned about lease decay, retirement adequacy and in many cases, missing out on the taxpayer subsidies that come with BTO purchases.