National Development Minister Khaw Boon Wan revealed that his ministry is now in the final stage of revising the policy that will allow singles to acquire new HDB flats solely for owner-occupation, reported The Straits Times.
“We aim to get it implemented this year,” he said.
Responding to a query by Nominated MP Tan Su Shan, Mr Khaw also noted that 3,800 out of the 18,000 singles who bought HDB resale flats in the last 10 years have already married.
Meanwhile, in his reply to MP Lee Bee Wah (Nee Soon GRC) on whether the age requirement for singles to own new flats could be reduced, the Minister said singles aged 21 and above are allowed to purchase new or resale flats provided they form a family nucleus with their parents.
Singles wanting to live on their own can also buy a resale flat provided they are at least 35 years of age.
The minimum age of 35 is in line with the government’s efforts to promote marriage and parenthood, said Mr Khaw.
He added that the new policy will not lower the minimum age for singles to buy new flats “as marriage rates are highest between the ages of 25 and 34”.
Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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