Debated in Parliament on 17 Feb 2014.
Mrs Lina Chiam asked the Minister for National Development (a) whether HDB's Rent and Purchase scheme has been scrapped; and (b) if so, whether the scheme can be reintroduced to help potential HDB owners.
We introduced the Rent & Purchase (R&P) Scheme in 1999. After we resumed the building of 3-room flats in 2004 and 2-room flats in 2006, and introduced substantial CPF housing grants to help low-income working households own their first home, the demand for the R&P Scheme dropped significantly. For example, in 2008, there were only two applications. The scheme was, therefore, suspended in 2009. We have no plans to revive the scheme at this point in time.
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