Practice to Peg Price of HDB BTO Flats to Average Income

Debated in Parliament on 7 Oct 2019.

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Gan Thiam Poh asked if HDB BTO flats will continue to be priced based on average income rather than market prices after the recent income ceiling increase.
Lawrence Wong affirmed the government's commitment to affordable public housing, stating HDB prices new flats at significant discounts to market rates.
He emphasized that most first-timer families can buy BTO flats in non-mature estates using CPF with minimal cash outlay.
Wong stated that even if market prices rise, BTO prices will remain affordable in line with this commitment.
The response confirms the continued practice of pegging BTO prices to income affordability rather than market fluctuations.

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Gan Thiam Poh

Mr Gan Thiam Poh asked the Minister for National Development whether the Ministry will continue to keep the existing pricing of HDB BTO flats pegged against average income instead of market price in view of the recent raising of the income ceiling.

Lawrence Wong

The Government is committed to providing affordable public housing to help citizen households own their first home. To do this, HDB prices its new flats at significant discounts to the market. In particular, we ensure that the vast majority of first-timer families are able to buy new BTO flats in non-mature estates and service their monthly mortgage instalments using their CPF, with zero or minimal cash outlay. So, even if the market price were to move up, we will continue to keep BTO prices affordable in line with this commitment.

Summary written by AI (learn more)

Gan Thiam Poh asked if HDB BTO flats will continue to be priced based on average income rather than market prices after the recent income ceiling increase.
Lawrence Wong affirmed the government's commitment to affordable public housing, stating HDB prices new flats at significant discounts to market rates.
He emphasized that most first-timer families can buy BTO flats in non-mature estates using CPF with minimal cash outlay.
Wong stated that even if market prices rise, BTO prices will remain affordable in line with this commitment.
The response confirms the continued practice of pegging BTO prices to income affordability rather than market fluctuations.

Questions identified by AI (learn more)

Practice to Peg Price of HDB BTO Flats to Average Income | PAPERCUTS

Practice to Peg Price of HDB BTO Flats to Average Income

Debated in Parliament on 7 Oct 2019.

Summary written by AI (learn more)

Gan Thiam Poh asked if HDB BTO flats will continue to be priced based on average income rather than market prices after the recent income ceiling increase.
Lawrence Wong affirmed the government's commitment to affordable public housing, stating HDB prices new flats at significant discounts to market rates.
He emphasized that most first-timer families can buy BTO flats in non-mature estates using CPF with minimal cash outlay.
Wong stated that even if market prices rise, BTO prices will remain affordable in line with this commitment.
The response confirms the continued practice of pegging BTO prices to income affordability rather than market fluctuations.

Questions identified by AI (learn more)

Full Transcript

Gan Thiam Poh

Lawrence Wong

Summary written by AI (learn more)

Gan Thiam Poh asked if HDB BTO flats will continue to be priced based on average income rather than market prices after the recent income ceiling increase.
Lawrence Wong affirmed the government's commitment to affordable public housing, stating HDB prices new flats at significant discounts to market rates.
He emphasized that most first-timer families can buy BTO flats in non-mature estates using CPF with minimal cash outlay.
Wong stated that even if market prices rise, BTO prices will remain affordable in line with this commitment.
The response confirms the continued practice of pegging BTO prices to income affordability rather than market fluctuations.

Questions identified by AI (learn more)

Practice to Peg Price of HDB BTO Flats to Average Income

Summary

Questions Identified

Full Transcript

Gan Thiam Poh

Lawrence Wong

Summary

Questions Identified

Practice to Peg Price of HDB BTO Flats to Average Income

Summary

Questions Identified

Full Transcript

Gan Thiam Poh

Lawrence Wong

Summary

Questions Identified