Minister for National Development Desmond Lee was responding to a parliamentary question on whether the minimum occupation period (MOP) can be shorter than 10 years for the new Plus flats.
Mr Lee said that the Ministry of National Development has heard many suggestions during its engagements with citizens. One suggestion was to impose a hard price cap on Prime and Plus flats.
To ensure that neighbourhoods remain inclusive, MND will continue to build rental flats in integrated blocks where possible, including in future Prime and Plus projects. "Without the new framework, flats in choice locations will likely become more expensive and out of reach for many Singaporeans over time," said Mr Lee.Mr Xie asked how much more the government expects to spend each year on housing subsidies and grants to support home ownership, while Leader of the Opposition Pritam Singh asked about the anticipated fiscal impact arising from additional taxpayer subsidies extended to Prime and Plus HDB flats.
"The actual anticipated fiscal impact will depend on a number of factors, including market conditions at each launch, housing demand, the locational attributes of the sites and more."There were also questions on housing access for singles. MP Lim Biow Chuan asked if the age limit for singles to buy BTO flats can be reduced. Currently, singles must be at least 35 years old to buy a new BTO flat.
"With the changes that we are already going to make, we can expect housing demand from singles to go up significantly. Our priority now is to build enough flats over the next few years to address this demand, before we decide whether to make any further changes," said Mr Lee.
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