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Govt could revisit Home Purchase Allowance scheme
Aug 14, 2023
Govt could revisit Home Purchase Allowance scheme Singapore
By   shicheng news
  • City News
  • Home Purchase Allowance
  • Public Housing
  • HDB Flats Prices
  • Buy Flats in Singapore
Abstract: Tweaking the Home Purchase Allowance (HPA) scheme is one of the ways the government could explore to ensure that public housing is affordable for the country's people, property observers say. Analyses also suggest that in order to stabilise HDB prices, the authorities will have to spread the demand for housing in mature towns.

Prime Minister Lee Hsien Loong said in his National Day message this year that more new HDB flats will be built in existing towns in the future, and the higher demand for these HDB flats will be reflected at the price level of HDB flats, but the Prime Minister also emphasised that the government will ensure that HDB flats are sold at a price that is affordable to the nation.

 

Property analysts interviewed believe that revisiting the Home Purchase Allowance (HPA) scheme is one of the options that the government could take into consideration.

 Govt could revisit Home Purchase Allowance scheme

ERA Industry principal executive Lim Dong Yong said, "One of the tools that the government can use is to provide more allowances, adjust the eligibility criteria or even adjust the amount of allowances, they have used all of these methods."

 

Some analysts say it is time for the authorities to review the way HDB flats in mature and non-mature areas are categorised, while pointing out that it is the government's long-term goal to make each HDB area a livable town.

 

Dr Howard Lai, Associate Professor at the School of Business, New Leap University of Social Sciences, said, "This means that if some areas may currently be less desirable for residents due to lack of facilities or poor connectivity to the transport system, the government will find ways to address these issues in the townships to make each township as attractive as possible."

 

Prime Minister Lee will further explain the policy adjustments at the National Day mass meeting.

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Govt could revisit Home Purchase Allowance scheme
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