Written answer by Ministry of National Development on self-employed persons paying for HDB flats by cash and CPF and plans to encourage payment by CPF instead

Aug 6, 2024

Question No: 5955

Question by: Ms See Jinli Jean

To ask the Minister for National Development (a) how many self-employed persons (SEPS) are currently paying for their HDB flats by (i) cash and (ii) CPF respectively; (b) what is the percentage of SEPS from each group who are at higher-risk of having their flats repossessed because of frequent default on instalments; and (c) whether there are plans to introduce incentives and assistance to encourage SEPs who have been paying for their flat by cash to switch to using CPF to pay instead.

Answer:

HDB does not collect information on whether flat owners are self-employed, as HDB treats all flat owners the same way, regardless of their occupation. We are therefore unable to provide the data requested in parts (a) and (b) of the Member’s question. 

HDB has no preference whether flat owners service their mortgage loans by cash, CPF, or a combination of both. We therefore do not plan to introduce incentives and assistance to encourage flat buyers to adopt a particular mode of payment.

We encourage homeowners facing difficulties with their mortgage payments to approach HDB early, to explore options for support.