Singles to get priority for BTO flats from mid-2025 under new Family Care Scheme

The Straits Times

06 Nov 2024

SINGAPORE - Singles applying for Build-To-Order (BTO) flats will get priority access when they buy a home near or with their parents under a new scheme that kicks in from mid-2025. Currently, priority...

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One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2481603746"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2481603746\",edition:\"fundamental\",,,undefined,":{"share":"https://ttm.financial/m/news/2481603746?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-06 20:20","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2481603746","market":"sg","top_or_hot":-1,"title":"Singles to get priority for BTO flats from mid-2025 under new Family Care Scheme","media":"The Straits Times","content":"<div>\n<p>SINGAPORE - Singles applying for Build-To-Order (BTO) flats will get priority access when they buy a home near or with their parents under a new scheme that kicks in from mid-2025.\nCurrently, priority...</p>\n\n<a href=\"https://www.straitstimes.com/singapore/housing/singles-to-get-priority-for-bto-flats-from-mid-2025-under-new-family-care-scheme\">Source Link</a>\n\n</div>\n","source":"straits_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingles to get priority for BTO flats from mid-2025 under new Family Care Scheme\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-06 20:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.straitstimes.com/singapore/housing/singles-to-get-priority-for-bto-flats-from-mid-2025-under-new-family-care-scheme><strong>The Straits Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SINGAPORE - Singles applying for Build-To-Order (BTO) flats will get priority access when they buy a home near or with their parents under a new scheme that kicks in from mid-2025.\nCurrently, priority...</p>\n\n<a href=\"https://www.straitstimes.com/singapore/housing/singles-to-get-priority-for-bto-flats-from-mid-2025-under-new-family-care-scheme\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"5OC.SI","symbol_name":"科优","start_time":0,"source_url":"https://www.straitstimes.com/singapore/housing/singles-to-get-priority-for-bto-flats-from-mid-2025-under-new-family-care-scheme","article_id":"2481603746","we_media_id":null,"thumbnails":[],"rights":{"source":"straits_highlight","url":"https://www.straitstimes.com/singapore/housing/singles-to-get-priority-for-bto-flats-from-mid-2025-under-new-family-care-scheme","rn_cache_url":null,"customStyle":"","selectors":"body","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2481603746","pubTimestamp":1730895600,"columns":[],"sourceInfo":{"source_id":"straits_highlight","name":"Straits Times"},"weMediaInfo":null,"summary":"SINGAPORE - Singles applying for Build-To-Order  flats will get priority access when they buy a home near or with their parents under a new scheme that kicks in from mid-2025.The latest move is meant to bolster intergenerational support among families, said National Development Minister Desmond Lee at a community dialogue session on Nov 6.Mr Lee said parents and their children - regardless of marital status - will have priority access when they apply for new flats under the upcoming Family Care Scheme .“We recognise that caring for one’s parents is important, regardless of whether you are married or single. In fact, adult children who are single tend to carry a heavier burden of caring for ageing parents,” Mr Lee said, who was speaking at The Frontier Community Club in Jurong West.The FCS , which will be implemented in mid-2025, gives parents and their children priority access if they are applying for a new flat to live near or with each other. This will replace the Married Child Prior","collect":0,"end_time":0,"defaultTopTitle":"straitstimes.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"5OC.SI":"科优","BK6045":"建筑与工程","BK6520":"工商业服务概念"},"translate_title":"根据新的家庭护理计划，单身人士将从2025年年中起优先获得BTO公寓","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"5OC.SI":0.9},"content_text":"SINGAPORE - Singles applying for Build-To-Order (BTO) flats will get priority access when they buy a home near or with their parents under a new scheme that kicks in from mid-2025.\nCurrently, priority access is reserved only for married couples and their parents.\nThe latest move is meant to bolster intergenerational support among families, said National Development Minister Desmond Lee at a community dialogue session on Nov 6. \n\n\n\nMr Lee said parents and their children - regardless of marital status - will have priority access when they apply for new flats under the upcoming Family Care Scheme (FCS).\n“We recognise that caring for one’s parents is important, regardless of whether you are married or single. In fact, adult children who are single tend to carry a heavier burden of caring for ageing parents,” Mr Lee said, who was speaking at The Frontier Community Club in Jurong West.\nPrime Minister Lawrence Wong had first announced the Government’s intention to do open up priority access to singles during the National Day Rally in August.\n\n\n\nThe new scheme, will combine three current priority schemes for married couples, parents and seniors, and will have two components.\n\nThe FCS (Proximity), which will be implemented in mid-2025, gives parents and their children priority access if they are applying for a new flat to live near or with each other. This will replace the Married Child Priority Scheme and Senior Priority Scheme.\nThe FCS (Joint Balloting) will allow parents and their children to apply for two units in the same BTO project, replacing the Multi-Generation Priority Scheme. It will be introduced in end-2025.\nMr Lee added that more details will be shared in due course.\n\n\n\nAsked about the percentage of flat supply set aside under the scheme, an HDB spokesman said more details will be provided closer to its implementation.\nAt present, up to 30 per cent of flat supply in a BTO launch is allocated to first-timer families under the Married Child Priority Scheme.\nAt least 40 per cent of two-room flexi flats is set aside for seniors. This includes those who apply under the Senior Priority Scheme to live near their parents or married child.\nUnder the Multi-Generation Priority Scheme, up to 15 per cent of two-room flexi flats or three-room flat supply is set aside for parents who wish to live in the same BTO project with their married child.\nThe HDB spokesman said the scheme will be implemented in two phases due to operational complexities and the need to introduce major system changes.\n\n\n\n\n\nMore On This Topic\n\n \n\nAttractive prices, inclusive policies behind surge in demand from singles for 2-room flexi HDB flats \n\n\n\n \n\nOverwhelming demand for 2-room flexi HDB flats in Oct BTO launch \n\n\n\n\n\n\n\n\n\nThis moves comes as the latest BTO sales exercise in October saw overwhelming demand from singles for two-room flexi flats, with over 26 single applicants vying for each of the 1,902 units.\nIt was the first time that single home buyers could apply for two-room flexi flats across all locations. Before this, eligible singles could apply for such flats only in non-mature estates.\nMeanwhile, flash data from real estate portals Singapore Real Estate Exchange (SRX) and 99.co on Nov 6 showed that HDB resale prices inched up by 0.3 per cent in October.\nIt also showed that a total of 103 flats changed hands for at least $1 million each, making up 4.8 per cent of total transactions in October.\nIn his speech, Mr Lee also addressed concerns about rising prices in the HDB resale market, pointing out that million-dollar flat sales make up a “small minority” of all resale transactions.\nThese flats were typically maisonettes, executive apartments and jumbo flats, or five-room flats in good locations, he said.\nHe added that more flats with attractive attributes will enter the resale market in the coming years as new flats had been built in city fringe areas such as Dawson in Queenstown, Bidadari in Toa Payoh and parts of Kallang/Whampoa. \nThis will mean that there would be more such “high-priced transactions” for such flats, he said.\n“While this may be the case, our priority is to ensure that there is a diverse range of housing options across different locations and price points,” he said, adding that the Government will ensure that HDB flats remain affordable.\nMore than eight in 10 first-timer families who bought new or resale HDB flats could service their HDB loans using their Central Provident Fund contributions, with little or no cash payments, he noted.\n\n\n\n\n\nMore On This Topic\n\n \n\nHDB policy changes for singles kindle hope in 52-year-old who wants ‘a home that I can call my own’\n\n\n\n \n\nHDB flats: Do singles get the short end of the stick? \n\n\n\n\n\n\n\n\n\nMr Lee also said the new flat classification system, which sorts BTO projects into Standard, Plus and Prime categories based on their proximity to the city centre, transport connectivity and amenities, is meant to address the “lottery effect” of owning flats in prime and central locations.\nPlus and Prime flats will come with stricter resale conditions such as a 10-year minimum occupation period and a subsidy clawback, which was set at between 6 and 9 per cent in October’s sales exercise. HDB has said the subsidy recovery rate will vary at each launch.\n“This new framework helps to ensure homeownership remains affordable, maintains a good social mix across Singapore, and keeps the system of allocating subsidies fair,” Mr Lee said.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}