Homes For All
HDB continued to provide an affordable and comprehensive range of housing options to meet the different needs and aspirations of Singaporeans.
GREATER HOUSING CHOICE
The number of BTO and Selective En bloc Redevelopment Scheme (SERS) dwelling units completed stood at 25,447 in FY 2014 – an increase of 54.6% from the 16,461 units in the previous FY. HDB also constructed 1,276 rental flats in FY 2014 and is on track to increase the total rental housing stock from 50,000 to about 60,000 units by 2017.
HDB revamped its show flat space, formerly known as The Habitat Forum, into the new My Nice Home Gallery to offer more features. These included fully-furnished show flats and interactive exhibits to showcase the latest in HDB flat designs, interior design ideas and renovation tips.
SUPPORTING DIFFERENT SEGMENTS OF FLAT OWNERS
From the November 2014 Sales Exercise, the Married Child Priority Scheme (MCPS) was converted from a chance-based to a quota-based priority scheme to offer applicants significantly higher chances of success. Up to 30% and 15% of BTO/ SBF 2-room and bigger flats were set aside for first- and second-timer families respectively under this scheme.
The Parenthood Provisional Housing Scheme (PPHS) was enhanced from November 2014, to allow two eligible households to co-rent a PPHS flat. As part of measures to help more singles own a flat, the singles allocation quota was raised from 30% to 50% from the May 2015 Sales Exercise.
Enhancements were made to the Lease Buyback Scheme (LBS), which was implemented from 1 April 2015. These included the extension of the scheme to 4-room flats; raising the income ceiling; flexibility to choose the length of lease to retain, and relaxation of requirement for households with two or more owners to top up their CPF Retirement Accounts.
PLANNING THE FINANCES
With effect from the February 2015 Sales Exercise, the requirement for an HDB Loan Eligibility (HLE) letter was brought forward. The HLE would now be required upon booking a flat, to better help flat buyers plan their finances and flat purchase. HDB, together with the HDB Staff Union, organised a Financial Awareness Day 2015. This was to raise awareness on the need to exercise financial prudence, a necessary condition to enjoy long-term home ownership.
These included the extension of the Lease Buyback Scheme to 4-room flats; raising the income ceiling; flexibility to choose the length of lease to retain, and relaxation of requirement for households with two or more owners to top up their CPF Retirement Accounts.
HELPING THE LOWER INCOME
HDB continued to work with other government agencies to help rental flat tenants who were in financial hardship. In the FY, together with the Ministry of Social and Family Development (MSF), HDB assisted a total of 6,689 rental flat tenants under the ComCare Scheme. HDB also helped 51 tenants who faced difficulty in paying rent, to transfer to smaller rental flats.