Kaeden Ong

Help us live near our parents: married couples

Posted by Kaeden Ong on 20th June 2014 in Blog

The government may look into adjusting the quota for married couples who intend to buy a flat near their parents, according to Minister of State Mohamad Maliki Osman in media reports.

“One option is if you want to really look at ways to enhance the possibility, or increase the chances of second-timers who want to live near their parents, maybe we can set aside a quota within perhaps that 15 percent,” said Dr Maliki during the second housing dialogue held last Saturday which was attended by thirty-six married participants.

Attendees suggested the housing board should provide more priority to second-timers who wish live near their parents, instead of absolute priority, as the latter would be unfair.

Currently, 85 percent of BTO flats are allocated to first-time buyers, while the rest are set aside for second-timers.

Participants also proposed extending a $10,000 housing grant for second-time buyers, who want to live with, or near their parents. At present, first-timers are eligible for a $30,000 CPF Housing Grant, but this rises to $40,000 when they purchase a resale flat with the intention of living with, or close to their parents.

“This is a significant shift when we talk about giving grants to second-timers but I think they recognise the proposal is to give grants to those wanting to live near their parents and this is for those who did not get to exercise that option when they bought their first flat so I think it’s quite a rational proposition,” noted Dr Maliki.

“That’s something that we can try to consider how else we can facilitate couples who have moved on to their next phase of their life stage to live near their parents. If it means that a grant can incentivise that, a grant can facilitate that, we will be prepared to consider that,” he added.

Credits: Property Guru

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