Homes with Annual Values between $13,000 and $21,000 and above $21,000

Debated in Parliament on 28 Feb 2023.

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Leong Mun Wai asked for the percentage of homes with Annual Values between $13,000 and $21,000 and above $21,000 for each year since 2010.
Lawrence Wong provided data for the last five years, showing that in 2018, about 10% of homes had Annual Values between $13,000 and $21,000 and 20% had values above $21,000.
In 2023, these proportions increased to around 30% and 25% respectively due to rising market rentals.
The government clarified that 2023 social support scheme eligibility is based on 2022 Annual Values, not the revised 2023 figures, and will continue reviewing schemes to ensure support for those in need.

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Full Transcript

Leong Mun Wai

Mr Leong Mun Wai asked the Deputy Prime Minister and Minister for Finance for each year since 2010, what is the percentage of homes that have an Annual Value (i) of between $13,000 and $21,000 and (ii) above $21,000 respectively.

Lawrence Wong

The available information extends to the last five years. In 2018, around 10% of all residential properties in Singapore had Annual Values (AV) between $13,000 and $21,000, while around 20% had AVs above $21,000. In 2023, the proportions are around 30% and 25% respectively, as AVs have increased significantly due to higher market rentals.

The eligibility for Government social support schemes is not affected by the revision of AVs in 2023, as AVs as of 2022 are used to determine scheme eligibility in 2023. The Government will continue to review our social support schemes, including eligibility criteria, to ensure that Singaporeans in need of support receive it.

Summary written by AI (learn more)

Leong Mun Wai asked for the percentage of homes with Annual Values between $13,000 and $21,000 and above $21,000 for each year since 2010.
Lawrence Wong provided data for the last five years, showing that in 2018, about 10% of homes had Annual Values between $13,000 and $21,000 and 20% had values above $21,000.
In 2023, these proportions increased to around 30% and 25% respectively due to rising market rentals.
The government clarified that 2023 social support scheme eligibility is based on 2022 Annual Values, not the revised 2023 figures, and will continue reviewing schemes to ensure support for those in need.

Questions identified by AI (learn more)

Homes with Annual Values between $13,000 and $21,000 and above $21,000 | PAPERCUTS

Homes with Annual Values between $13,000 and $21,000 and above $21,000

Debated in Parliament on 28 Feb 2023.

Summary written by AI (learn more)

Leong Mun Wai asked for the percentage of homes with Annual Values between $13,000 and $21,000 and above $21,000 for each year since 2010.
Lawrence Wong provided data for the last five years, showing that in 2018, about 10% of homes had Annual Values between $13,000 and $21,000 and 20% had values above $21,000.
In 2023, these proportions increased to around 30% and 25% respectively due to rising market rentals.
The government clarified that 2023 social support scheme eligibility is based on 2022 Annual Values, not the revised 2023 figures, and will continue reviewing schemes to ensure support for those in need.

Questions identified by AI (learn more)

Full Transcript

Leong Mun Wai

Lawrence Wong

Summary written by AI (learn more)

Leong Mun Wai asked for the percentage of homes with Annual Values between $13,000 and $21,000 and above $21,000 for each year since 2010.
Lawrence Wong provided data for the last five years, showing that in 2018, about 10% of homes had Annual Values between $13,000 and $21,000 and 20% had values above $21,000.
In 2023, these proportions increased to around 30% and 25% respectively due to rising market rentals.
The government clarified that 2023 social support scheme eligibility is based on 2022 Annual Values, not the revised 2023 figures, and will continue reviewing schemes to ensure support for those in need.

Questions identified by AI (learn more)

Homes with Annual Values between $13,000 and $21,000 and above $21,000

Summary

Questions Identified

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Leong Mun Wai

Lawrence Wong

Summary

Questions Identified

Homes with Annual Values between $13,000 and $21,000 and above $21,000

Summary

Questions Identified

Full Transcript

Leong Mun Wai

Lawrence Wong

Summary

Questions Identified