Young couples who have purchased a Build-To- Order (BTO) flat can soon expect to move in more quickly, following a Government announcement to cut waiting times for public housing.
Speaking to The Straits Times and Lianhe Zaobao last week, National Development Minister Lawrence Wong revealed aims to reduce the waiting period to two to three years, from the current three to four years.
“We would like to see how we can help them (young couples) settle down and get their flat faster,” said Mr Wong.
This change will be achieved by accelerating housing construction and building ahead of property launches. However, the reduced waiting period will not apply for the entire housing stock as “it’s not possible because you just can’t construct all the flats within a short period,” said Mr Wong.
Mr Wong also expressed that the variation in waiting times will create more flexibility and options for home buyers. “There will be a range of BTO flats with different waiting times… so people can pick and choose,” he said.
Ms Pearlyn Tay, 25, a special education teacher, believes that this move will prove beneficial for young married couples who wish to have a place they can call home.
“Logistically, it’s very difficult for couples to wait four years… So many people are applying for BTO flats first, before they even propose (marriage),” said Ms Tay, who will be moving in with her in-laws after her wedding.
In addition to a shorter wait for BTO flats, Mr Wong also announced two other housing plans targeted at seniors and families with young children respectively. The former will aid older Singaporeans in unlocking their flat’s value for retirement; whereas the Fresh Start Housing Scheme aims to help young families who are currently living in public rental housing to purchase their own homes.
Read The Straits Times for more information.
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