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The Housing and Development Board (HDB) will ease measures to make housing more accessible for young couples who are either working or have just started working. National Development Minister Desmond Lee announced during an engagement session about public hoMore young couples can now buy flats as HDB eases income assessment rules
The Housing and Development Board (HDB) will ease measures to make housing more accessible for young couples who are either working or have just started working. National Development Minister Desmond Lee announced during an engagement session about public housing at the National University of Singapore on Wednesday (March 26), that starting from the next Build-to-Order (BTO) launch in July this year, young couples in which either one party is studying or serving National Service will be eligible for the Deferred Income Assessment (DIA). For example, a couple, where one person is earning $3,500 a month while the other is still studying, could only afford to purchase a three-room BTO flat in Yishun previously. But under the expanded rules, the couple can now apply for their BTO flat and have their HDB housing loan and Enhanced Central Provident Fund Housing Grant assessment deferred for about three years, until the collection of keys. «At that point, both parties would have started work. With a combined income of say $7,500, they will qualify for a sufficient loan to buy their dream four or five-room BTO flat,» the minister said. Read more