Kaeden Ong

52,000 flats built in the last three years: PM

Posted by Kaeden Ong on 5th June 2014 in Blog

In 2011, housing was a big concern for Singaporeans and the government mobilised all its resources to tackle the problem, Prime Minister Lee Hsien Loong said in Parliament yesterday during the debate on the President’s Address.

“In the last three years, we have built two Clementi new towns worth of HDB flats – 52,000 flats. We have almost doubled the subsidies for the flats, which have been disbursed so as to make the flats more affordable. The situation is now under control,” he said.

Besides stabilising the housing market, the government also cleared the queues for first-time buyers.

One of the ways to help older Singaporeans meet their retirement needs, PM Lee said, is to help them to unlock the value of their HDB flats with schemes such as the Silver Housing Bonus (SHB) and the Lease Buyback Scheme (LBS).

Some elderly may feel that they are giving up their homes, so the Ministry of National Development (MND) is studying on improving these schemes to make them easier to accept and understand.

Seniors also have the option to rent out rooms in their HDB flats, or lease their whole flat and move in with their children.

Credits: Property Guru

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