National Development Minister Khaw Boon Wan seems to have backed out of the idea of giving incentives to parents living in mature estates to move with children in new towns, reported the media.
This is after participants at a recently concluded Housing Conversations revealed what it would take for them to transfer.
“The figure is something I can’t afford. It’s six digits,” said Mr Khaw said in Parliament on 9 September.
He floated the idea of giving financial incentives back in July, saying “we should try to facilitate and perhaps even reward them for moving out because that opens up opportunities for children of parents in mature estates who want to stay on.”
However he seemed to have changed tack. “We will try within our capabilities and financial limits, but if some parents can change their attitude and be prepared to try out the new towns, they may discover better new towns – maybe in Yishun,” explained Mr Khaw.
He noted that there are still other options, even for those living in mature estates.
“Helping extended families live together or close by for mutual care and support has been a longstanding priority for this Government,” he said, citing the multi-generational 3Gen flats and the Married Child Priority Scheme, which provides more chances to applicants living near or with their parents.
There is also potential to build more new flats in older towns, Within the next 12 months, there are several Build-to-Order (BTO) launch possibilities in several mature estates, he added.
Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
