MORE HELP FOR YAYA People
The Deferred Income Assessment program will become expanded to include young people, making it necessary for one person to be a National Serviceman or full-time student to get ready. This may begin with the sales practice in July 2025.  ,
The scheme, which dates back to before they collect their tips, allows young couples to apply for a new level first and submit their money judgment for accommodation grants or loans until just before they can get their keys. Delaying this evaluation may help couples count for a higher mortgage amount because grant and loan registration are typically reliant on household income.
Both parties now must either be enrolled in a full-time program of study or to be a member of the National Service ( NS), or have finished their studies or Na within the past 12 months of applying for the HDB flat registration text.
Mr. Lee said he had heard from younger Singapore that there are frequently times when one person has started a job after graduating but the other may still be serving or studying in the nation.
However, because this is a single-income couple booking a home first, he said, they might not be able to get a significant enough housing loan to afford the apartment they are looking for and might have trouble paying the initial down payment.  ,
Beyond school graduates, the growth of the program will gain a wider range of fresh couples, including those who are serving in the NS after earning degrees from colleges and the Institute of Technical Education.
” LOTTERY EFFECT,” MILLION-DOLLAR Condos
Additionally, Mr. Lee acknowledged concerns about selling apartments being sold for more than a million dollars.
” I want to tell you that there is a wide range of affordable housing for diverse housing costs, for both resale condos that you can purchase from an existing owner in the open market and BTO cottages, which are new condos that are built and sold and priced , by HDB,” he said.
” One of the most important ways to ensure affordability is by pricing our BTO flats for affordability, and these come, therefore, with significant market discounts even before you apply the grants that you are means-tested for.”
According to him, four-room apartments were typically sold for between US$ 350, 000 and US$ 460, 000 ( US$ 262, 000 to US$ 460, 000 ), depending on the project and location, during the recent BTO launch in February.  ,
According to Mr. Lee,” all projects are within reach with little to no cash outlay” for the monthly loan instalment, given that the median starting salary for graduates last year was S$ 4,500 for a couple with a combined income of S$ 9, 000.”  ,
He added that first-time buyers can afford to purchase apartments in attractive locations that are priced higher thanks to the Standard, Plus, and Prime flat classifications.  ,
For instance, Tanjong Rhu Parc Front is a prime project, and comparable resale apartments in the area would cost more than S$ 900,000. Since this is a Prime project, the government will apply a market discount and add more subsidies for a flat here.  ,
This means that a four-bedroom BTO Prime apartment will cost around S$ 640,000 before grants.
The new flat classification framework, according to Mr. Lee, “also aims to limit the lottery effect and be fairer to buyers who did not receive additional subsidies because they purchased Standard flats.”  ,
Additionally, Plus and Prime apartments have stricter restrictions, including a longer minimum occupancy period of 10 years than the five-year standard unit, subsidy recovery, and tighter lease and resale requirements.  ,
These restrictions aim to increase owner-occupation objectives in public housing, and also aim to lower the investment value when purchasing a BTO flat, and thus attempt to limit speculative gains or the lottery effect, he added.  ,
To support Singaporeans of all walks of life, at various stages of their life journeys, we will continue to update our policies and continue to update our schemes.