Trends for Residents in Public Rental Housing Subsequently Owning Their Own Homes

Debated in Parliament on 10 May 2021.

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Mariam Jaafar asked about the proportion of public rental residents who become homeowners within three, five, and ten years, and the proportion of young adults in rental housing who later apply for another rental unit when forming a family.
In the last five years, about 4,600 public rental households, or 2% annually, achieved home ownership, with 36% doing so within five years, 32% in five to ten years, and 32% after ten years, while less than 10% did so within three years.
Over the same period, about 440 young adults aged 35 or younger who were previously in rental flats rented another flat when forming their own family nucleus.
The government provides generous grants and one-to-one guidance from HDB’s Home ownership Support Team to help rental tenants buy homes, and collaborates with partners under the Community Link initiative for coordinated family support.
Most households that achieve home ownership buy subsidised BTO flats, which typically have a waiting time of at least three years, reflecting the need for time to stabilize their social or financial situation.

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Mariam Jaafar

Ms Mariam Jaafar asked the Minister for National Development (a) what proportion of residents in public rental housing (excluding those on interim rental housing who are waiting for their BTO flats to be completed) go on to own their own homes within three, five and 10 years; and (b) what proportion of young adults in public rental housing go on to apply for another rental unit when they form their own family nucleus.

Desmond Lee

In the last five years, about 4,600 public rental households moved to home ownership, or about 2% of rental households per year. Among these households, 36% moved to their own homes less than five years after they entered public rental, 32% in five to 10 years, and the remaining 32% after more than 10 years. Less than 10% moved to home ownership within three years as households in public rental would generally need some time to stabilise their social or financial situation before purchasing a home. In addition, more than three quarters of the rental households who achieved home ownership bought subsidised BTO flats, which typically have a waiting time of at least three years.

Over the same time period, about 440 young adults aged 35 or younger who were previously occupiers in a public rental flat went on to rent another flat when they formed their own family nucleus.

We will continue to support public rental tenants to buy their own homes by providing generous grants and one-to-one guidance from HDB’s Home ownership Support Team. We will also continue to work closely with MSF and other partners under the Community Link initiative to provide coordinated support to uplift families with children staying in public rental flats.

Summary written by AI (learn more)

Mariam Jaafar asked about the proportion of public rental residents who become homeowners within three, five, and ten years, and the proportion of young adults in rental housing who later apply for another rental unit when forming a family.
In the last five years, about 4,600 public rental households, or 2% annually, achieved home ownership, with 36% doing so within five years, 32% in five to ten years, and 32% after ten years, while less than 10% did so within three years.
Over the same period, about 440 young adults aged 35 or younger who were previously in rental flats rented another flat when forming their own family nucleus.
The government provides generous grants and one-to-one guidance from HDB’s Home ownership Support Team to help rental tenants buy homes, and collaborates with partners under the Community Link initiative for coordinated family support.
Most households that achieve home ownership buy subsidised BTO flats, which typically have a waiting time of at least three years, reflecting the need for time to stabilize their social or financial situation.

Questions identified by AI (learn more)

Trends for Residents in Public Rental Housing Subsequently Owning Their Own Homes | PAPERCUTS

Trends for Residents in Public Rental Housing Subsequently Owning Their Own Homes

Debated in Parliament on 10 May 2021.

Summary written by AI (learn more)

Mariam Jaafar asked about the proportion of public rental residents who become homeowners within three, five, and ten years, and the proportion of young adults in rental housing who later apply for another rental unit when forming a family.
In the last five years, about 4,600 public rental households, or 2% annually, achieved home ownership, with 36% doing so within five years, 32% in five to ten years, and 32% after ten years, while less than 10% did so within three years.
Over the same period, about 440 young adults aged 35 or younger who were previously in rental flats rented another flat when forming their own family nucleus.
The government provides generous grants and one-to-one guidance from HDB’s Home ownership Support Team to help rental tenants buy homes, and collaborates with partners under the Community Link initiative for coordinated family support.
Most households that achieve home ownership buy subsidised BTO flats, which typically have a waiting time of at least three years, reflecting the need for time to stabilize their social or financial situation.

Questions identified by AI (learn more)

Full Transcript

Mariam Jaafar

Desmond Lee

Over the same time period, about 440 young adults aged 35 or younger who were previously occupiers in a public rental flat went on to rent another flat when they formed their own family nucleus.

Summary written by AI (learn more)

Mariam Jaafar asked about the proportion of public rental residents who become homeowners within three, five, and ten years, and the proportion of young adults in rental housing who later apply for another rental unit when forming a family.
In the last five years, about 4,600 public rental households, or 2% annually, achieved home ownership, with 36% doing so within five years, 32% in five to ten years, and 32% after ten years, while less than 10% did so within three years.
Over the same period, about 440 young adults aged 35 or younger who were previously in rental flats rented another flat when forming their own family nucleus.
The government provides generous grants and one-to-one guidance from HDB’s Home ownership Support Team to help rental tenants buy homes, and collaborates with partners under the Community Link initiative for coordinated family support.
Most households that achieve home ownership buy subsidised BTO flats, which typically have a waiting time of at least three years, reflecting the need for time to stabilize their social or financial situation.

Questions identified by AI (learn more)

Trends for Residents in Public Rental Housing Subsequently Owning Their Own Homes

Summary

Questions Identified

Full Transcript

Mariam Jaafar

Desmond Lee

Summary

Questions Identified

Trends for Residents in Public Rental Housing Subsequently Owning Their Own Homes

Summary

Questions Identified

Full Transcript

Mariam Jaafar

Desmond Lee

Summary

Questions Identified