Singaporeans who are looking for a home or planning to upgrade their housing options may be interested to learn about the new public housing framework that was announced by Prime Minister Lee Hsien Loong at the National Day Rally 2023 on Sunday (Aug 20).
The new framework aims to address the changing housing landscape and evolving aspirations of Singaporeans, as well as to ensure that public housing remains affordable, accessible, and inclusive for current and future generations.
Here are some of the key highlights of the new public housing framework:
A New BTO Housing Category for Singles
One of the most significant changes is that singles will be able to apply for a new two-room flexi build-to-order (BTO) flat in all locations, including prime areas such as the city centre and the Greater Southern Waterfront.
This is a major shift from the previous policy, which only allowed singles aged 35 and above to buy from a limited pool of smaller flats from the resale market or non-mature estates.
PM Lee said that this change was made to help more singles own their homes and have more housing choices, as more and more Singaporeans are choosing to be single.
The new two-room flexi BTO flats for singles will have a shorter lease of 40 years, compared to the standard 99-year lease for other flat types. This is to ensure that there will be enough flats for future generations of singles.
The new flats will also have tighter resale restrictions, such as a longer minimum occupation period (MOP) of 10 years, and a requirement to sell only to other singles or couples.
A New Estate Classification System
Another change is that the government will introduce a new estate classification system, which will categorize BTO flats into three types: Standard, Plus, and Prime.
Standard flats will remain the majority of the supply and will be located islandwide. They will have standard subsidies and restrictions.
Plus flats will be in choicer locations within each region, such as near transport nodes or town centres. They will have more subsidies than standard flats, but also tighter restrictions, such as a longer MOP of seven years, and a requirement to sell only within the same category or lower.
Prime flats will be in the choicest and most central locations in Singapore, such as the city centre and the Greater Southern Waterfront. They will have the most subsidies among the three categories, but also the tightest restrictions, such as a longer MOP of 10 years, and a requirement to sell only within the same category.
PM Lee said that this new system will help to balance affordability and accessibility for different groups of homebuyers, as well as to maintain social mixing and inclusivity in public housing estates.
A New Majulah Package for ‘Young Seniors’
The third change is that the government will introduce a new Majulah Package for ‘young seniors’, who are aged between 55 and 70.
The package will consist of various benefits and incentives to help this group of Singaporeans stay active, healthy, and connected in their golden years.
One of the benefits is that they will be able to use their CPF savings to buy shorter-lease two-room flexi flats from HDB. This will allow them to right-size their homes and unlock some cash for their retirement needs.
Another benefit is that they will be able to enjoy priority access and discounts for various senior-friendly facilities and programs in their neighborhoods, such as wellness centers, active aging hubs, and lifelong learning courses.
PM Lee said that this package will help to support ‘young seniors’ in their transition from work to retirement, as well as to foster intergenerational bonding and community spirit among residents.
Making Homes and Precincts More Senior-Friendly
The fourth change is that the government will make more homes and precincts more senior-friendly, to cater to the needs of an ageing population.
One of the initiatives is to install more lifts with sensors that can detect when someone is approaching or leaving. This will reduce waiting time and improve convenience for seniors who may have mobility issues.
Another initiative is to widen corridors and walkways in older estates and install more ramps and handrails. This will make it easier for seniors to move around safely and comfortably.
PM Lee said that these enhancements will not only benefit seniors but also families with young children or persons with disabilities. He added that these improvements will be done progressively over time, with minimal disruption to residents.
