One MP highlighted that some young working professionals may still feel the pain - they might not be able to afford private property and are also priced out of Plus flats due to the income ceiling.
In his National Day Rally speech, Prime Minister Lee Hsien Loong announced that HDB will do away with the decades-old labels of mature and non-mature estates, and replace them with a new classification system.
“When we give more subsidies, it means that people of all income groups can afford a house and it also means that our various HDB estates can continue to have good social mix,” he added. “I often have a lot of young people who have come to me and say, ‘I really want to stay near my family. However, I don't have any options.’ Or they feel that they are being priced out of their options,” she said, adding that the Plus category of flats would be good for such couples.
Doing away with the decades-old labels of mature and non-mature estates and introducing the Standard, Plus and Prime classification model, “would certainly help hopefully lower the price”, Mr Yong believes. But she acknowledged that “we still will continue to have the existing supply of resale flats which will not be restricted from ”.
Meanwhile, MP Saktiandi Supaat expressed support for the Earn and Save Bonus, which will be credited to one’s CPF account.
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