Page 26 - MND Handbook

Public housing in Singapore has come to mean more
than just providing affordable high quality homes; it is
also about meeting the evolving needs and aspirations
of all Singaporeans.
Today, more than 80 per cent of Singaporeans live in
public housing. Beyond providing a roof over our heads,
public housing plays a significant part in the collective
experience of Singaporeans.
The Housing & Development Board (HDB) works closely
with MND to build homes that encourage the growth of
vibrantmulti-racial communities. This involves theplanning
and development of new towns, management of HDB
properties, and redeveloping older towns and estates.
Promoting Home Ownership
Since the first rental blocks were built in the
early 1960s, public housing in Singapore
has made remarkable progress. Singapore’s
public housing programme has earned
international accolades for setting a high
standard of living.
The cornerstone of Singapore’s public
housing programme is the Home Ownership
for the People Scheme. Started in 1964,
the scheme aims to give Singaporeans a
tangible stake in their country and its future.
Today, HDB flats are a significant part of
Singaporeans’ assets, with about 95 per
cent of HDB households owning their flats.
Affordability is critical to fulfilling the
Singaporean dream of owning a flat. We
ensure that prices of new HDB flats are
kept within reach of the masses through
substantial pricing subsidies. Lower income
families are given housing grants to help
them afford a home.
HDB has resumed building two- and three-
room flats to meet the housing needs of
these lower income families. Subsidised
rental housing is available for those who face
extreme financial difficulties.
To enable more Singaporeans to be eligible
for housing subsidy, the monthly household
income ceiling for the purchase of subsidised
flats was raised in August 2011 from
$8,000 to $10,000. In addition, the monthly
household income ceiling for purchase of
new Executive Condominiums was raised
from $10,000 to $12,000 and eligible first-
time buyers can qualify for a CPF Housing
Grant of up to $30,000.
We have also increased support for singles
who want to own a home. Under the Single
Singapore Citizen Scheme, the monthly
household income ceiling to purchase up to
a 5-room resale flat, with a CPF Housing
Grant and HDB loan, has been increased
from $3,000 to $5,000. In addition, the CPF
Housing Grant for single citizen has been
increased from $11,000 to $15,000.
An Endearing Home,
A Distinctive Global City