Higher BTO, resale flat demand expected after income ceiling raised, but supply can keep up: Analysts
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SINGAPORE — The higher income ceiling will increase demand for public housing, but a strong pipeline of new and resale flats entering the market means supply will be able to keep pace, property analysts said.They pointed to the steady supply of Build-To-OrdHigher BTO, resale flat demand expected after income ceiling raised, but supply can keep up: Analysts
SINGAPORE — The higher income ceiling will increase demand for public housing, but a strong pipeline of new and resale flats entering the market means supply will be able to keep pace, property analysts said.They pointed to the steady supply of Build-To-Order (BTO) flats, as well as several waves of resale flats that will reach their minimum occupation period (MOP) in the coming years, after which they can be sold on the open market.In his National Day Rally speech on Aug 23, Prime Minister Lawrence Wong said the income ceiling for BTO flats will be increased to $16,000 for families and $8,000 for singles. The current income ceiling is $14,000 and $7,000, respectively.This higher ceiling will also apply to those buying an HDB resale flat with the CPF Housing Grant and Singles Grant.While this is likely to drive up demand, analysts noted that many flats could enter the resale market in the coming years.About 13,500 flats will reach their MOP in 2026. This will rise to 15,000 in 2027, and 19,500 in 2028. Read more
