15 August 2011

Singapore HDB income cap rises

SINGAPORE, Aug 14 (Reuters) - Singapore will build more low-cost apartments and allow a larger number of citizens to buy homes directly from the government to address concerns about rising property prices, Prime Minister Lee Hsien Loong said on Sunday.

Lee said his government will let families with combined monthly incomes of S$10,000 ($8,240) or less buy apartments directly from the Housing and Development Board (HDB) at a cheaper price. The government had previously set a ceiling of S$8,000.

In my opinion, the developers with BTO and EC will benefit from the above changes as more people can now purchase the BTO and EC. Nonetheless, the impact to private property developers is minimal as majority of the private property buyers are from China, Indonesia and Malaysia.

Source from: http://sg.finance.yahoo.com/news/Singapore-sell-lower-cost-rsg-1433948294.html?x=0

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