Under the current policy, singles must be at least 35 years old to purchase a HDB flat. However, many young people would like to own their own homes earlier, and waiting until they reach the age of 35 may have a detrimental effect on their life planning.
Therefore, the Singapore government is considering lowering the age limit for home ownership to 30 or even lower to cater to the needs of young singles.
In addition, the Singapore Home Purchase Scheme for singles will also explore expanding the range of housing options. Currently, singles have relatively limited choices when it comes to purchasing pre-purchased HDB flats, with the main focus being on 2-room flats in non-mature neighbourhoods.
However, many singletons would like to own larger flats to cater for future developments and family changes. The Government is therefore considering allowing singletons to buy larger flats, such as three-room HDB flats, to provide more living space and flexibility.
This policy may soon see a change.
Prime Minister Lee Hsien Loong's upcoming talk about the new HDB policy changes at the upcoming National Day mass meeting has sparked widespread public concern. Many people expect the government to make changes to the home purchase policy for singles, including lowering the home purchase age and expanding the choice of housing types.
In his National Day message this year, Prime Minister Lee placed special emphasis on ensuring that HDB flats are affordable to nationals in all income brackets. There were also important messages about mature HDB districts that will provide more new HDB flats in the future.
According to the survey, it was found that numerous members of the public mentioned the home purchase policy for singles and hoped that the government would make adjustments accordingly.
Many people in their 30s are starting to consider buying a home, but are caught in a dilemma as they have not yet met the age requirement to buy a government HDB flat, while the price of resale HDB flats is too high.
Age and type of flat are the obstacles. The people want the government to lower the age for singles to apply for pre-purchased HDB flats so that nationals can realise their dream of home ownership earlier.
"If you have to wait until you are 35 to buy a pre-purchased HDB flat, and then wait another five years for it to be built, you will already be 40 when you move in. It would be better if the age could be lowered to 28 or 30. It is also hoped that the government will allow singles to buy three-room HDB flats."
Currently, singles must be at least 35 years old to buy a flat, and those buying pre-purchased HDB flats are limited to two-room flats in non-mature areas or resale HDB flats.
Many singles feel that the current home-buying policy "severely restricts" singles. Income ceilings and choice of housing type are among the key barriers. The current housing policy restricts singles to buying HDB flats in non-mature neighbourhoods.
However, many singles want to live closer to their parents, who may be located in established neighbourhoods. The government may be able to relax its policy to allow singles to purchase larger flats so that they can live with their elderly parents in the future.
Is the categorisation of mature and non-mature districts still necessary? The public would also like the Government to revisit the concept of categorising municipalities into mature and non-mature. This not only restricts home-buying options but also lacks inclusiveness. The government should be more inclusive when it comes to housing and ensure that even single people have equal rights when it comes to applying for pre-purchased HDB flats.
Some people felt that with the continuous development and improvement of HDB districts, the division between mature and non-mature districts is no longer necessary. It was suggested that the government categorise districts based on their proximity to the core areas, or based on the popularity of the past rounds of pre-purchase HDB projects in the districts.
"This will make it easier for those who really need a home to buy one, even in less desirable areas, as long as they are not too picky."
The intention of differentiating between mature and non-mature areas is mainly seen when first-time buyers apply for pre-purchase HDB flats. First-time buyers who are unsuccessful in applying for HDB flats in non-mature zones will enjoy an additional draw when they apply again.
Although some areas are categorised as Mature Area towns, they are actually still under active development. Citizens suggested that the government could consider expanding the scope of the Neighbourhood Home Purchase Allowance (NHPA) so that home buyers living within four kilometres of their parents' or children's place of residence would also be eligible for the allowance.
However, there were also some respondents who felt that the continuation of the division between mature and non-mature districts was necessary.
There are still significant differences in amenities between mature and non-mature neighbourhoods, which justifies the continuation of the categorisation.
In any case, citizens from all walks of life have expressed their expectations and views on the realignment of Singapore's home buying policy. As the government's adjustments will have a direct impact on the quality of housing and life of the citizens, it is important to make informed decisions that take into account the needs of all parties involved.
