Saturday, January 26, 2013

Married? Here are 7000 Flats for You

Jan 25, 2013

Under the revised Marriage and Parenthood package, families with young children will be entitled to at least 7000 new Housing and Development Board (HDB) flats, which are specially reserved for them this year.

According to a spokesperson from the Ministry of National Development (MND), the number is part of the 23,000 Build-to-Order (BTO) flats in both mature and non-mature estates that have been planned for 2013. The revised Marriage and Parenthood package stipulates that 30% of the new BTO projects will be allotted to parents of children aged below 16 who have not received housing subsidies.

On top of the upcoming BTO units, the package also takes into account balance BTO flats that are currently under construction. Up to 50% of these flats will be set aside for this group.

Prior to the revision, 85% of new flats were reserved solely for first timers with the rest going to second timers. According to national development minister Khaw Boon Wan, the new revision is only possible due to the current adequate supply of new flats for all first-time buyers.

The move also aims to aid married couples with young children who are pitted against engaged, but as yet unmarried couples who are scrambling to ballot for a flat before marriage. With the new scheme in place, married couples with young children should be able to get a flat within a year.

Pointing out that those who are only engaged but still childless can afford to wait for a flat whereas those who already have children are more in need of a roof over their heads, Khaw said: "There's enough flats for all first-timers now, let us recalibrate and let those who are married with children go ahead."

Young parents would also find it easier now, under the Parenthood Provisional Housing Scheme, to rent a home. 1150 three and 5-room flats that have been emptied for the Selective En Bloc.Redevelopment Scheme (SERS), and which are currently awaiting redevelopment, will be allocated to those who require a temporary home while waiting for the completion of their flats.

These unfurnished units, located in mature estates like Ang Mo Kio, Jurong West, Bedok and Queenstown, are offered to young families from $800 to $1900 a month, depending on floor area and location. The price is up to 40% below market rate. The change is predicted to encourage couples to have children earlier.

Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G)

| | | |
| | | |

No comments:

Post a Comment