SINGAPORE - National Development Minister Desmond Lee on Thursday announced various measures to help first-timer applicants secure their first home more quickly during the debate on his ministry’s budget. A new category has been created for first-timer families with Singaporean children aged 18 and below as well as married couples aged 40 and below, who will get more support when...
The Straits Times file
To qualify for the new First-Timer priority category, families must not have owned or sold a residential property before, or had a chance to book a flat in the past five years before their application.The current first-timer category includes all eligible Singaporeans who have not received a housing subsidy before, such as those who may have owned private property, HDB resale flat owners who did not receive housing subsidies and couples who are planning to get married.
In addition, those under the new category will get first priority when applying for four-room or smaller BTO flats in non-mature estates. This means they will receive a total of three ballot chances when they apply for any flat type in any estate.first-timer applicants who do not select a BTO flat when invited to do so will be considered second-timers in subsequent flat applications for a yearThis means that successful applicants must pick a unit or lose priority in their subsequent applications, as far fewer flats - around 5 per cent - are set aside for second-timers.
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