Written Answer by Ministry of National Development on pricing of BTO flats

Oct 7, 2019

Mr Gan Thiam Poh: To ask the Minister for National Development whether the Ministry will continue to keep the existing pricing of HDB BTO flats pegged against average income instead of market price in view of the recent raising of the income ceiling.

Answer:

The Government is committed to providing affordable public housing to help citizen households own their first home. To do this, HDB prices its new flats at significant discounts to the market. In particular, we ensure that the vast majority of first-timer families are able to buy new BTO flats in non-mature estates, and service their monthly mortgage instalments using their CPF, with zero or minimal cash outlay. So even if the market price were to move up, we will continue to keep BTO prices affordable in line with this commitment.