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Singapore: Calming, not collapsing housing market

Posted on 18 March 2013

Public housing policy is headed towards a serious revamp. After 50 years, the time is ripe to revisit old assumptions and examine existing policies, National Development Minister Khaw Boon Wan said in Parliament last week.
Some old assumptions no longer hold. For one thing, singles will be allowed to buy subsidised new Housing Board flats. Current policy allows them to buy only from the resale market. They get a cash grant of $15,000 from HDB if they earn $5,000 or less. Last Friday, Mr Khaw announced that singles aged 35 and above, and earning up to $5,000, will be allowed to buy two-room new flats in non-mature estates. These restrictions might be relaxed over time, he hinted………………………………………..Full Article: Source


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