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More will be eligible to buy BTO flats and ECs

By Esther Hoon

June 25, 2015 3:57 PM SGT

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The National Development Minister of Singapore, Mr Khaw Boon Wan, has announced plans to raise incoming ceilings for Built-To-Order (BTO) flats and Executive Condominiums (EC). This is the second revision since 2011 where household income ceiling was increased by $2,000 from the previous cap of $8,000 and $10,000 respectively. The new limits are expected to roll out in August or September, around the same time as the "unified 2-room, studio apartment HDB scheme". The initiative is driven by government's aspiration to "give every Singaporean couple a chance" to live in an HDB flat. The move is likely to increase subscription rate of BTO flats and demands for ECs in view of the expanded pool of eligible buyers.

Current income ceilings for BTO flats and ECs stand at $10,000 and $12,000 respectively.

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