Singles’ age of eligibility to buy HDB flats under careful review: Chee Hong Tat
The Government is considering lowering the age of eligibility for singles to buy HDB flats, which is currently 35.
This comes as “social norms and demographics have changed”, said National Development Minister Chee Hong Tat in a speech on Tuesday (28 July).
More people remaining single or marrying later: Chee
Speaking at the 11th Singapore Economic Review Conference, Mr Chee said Singapore’s past housing policies prioritised public housing for families.
However, more people are choosing to remain single or marry later in life, in Singapore as well as across the world, he maintained, noting these changing social norms and demographics.
The Government respects these “personal choices”, he added.
Source: Chee Hong Tat 徐芳达 on Facebook
Policy adjustment being considered as part of ‘pragmatic approach’
Thus, to support younger singles, the Government is looking at lowering their eligibility age to buy HDB flats.
The policy is “currently under careful review”, Mr Chee said.
He added that this reflects the Government’s “pragmatic approach to policymaking” that moves with the times.
Keeping policies relevant is “essential” as then they can deliver good outcomes for Singaporeans, he noted, adding:
This in turn supports good politics, creating a conducive political environment and enabling conditions for good policies to be designed and implemented over time.
Govt progressively opened HDB flats to singles
The minister noted that while the Government will continue to encourage marriage and parenthood and support families’ housing needs, it has progressively opened up public housing options to singles.
The HDB resale market was opened to singles aged 35 in 1990, and expanded in the 2010s to allow singles to buy two-room Build-To-Order (BTO) flats in non-mature estates directly from the Government.
Just two years ago in 2024, the New Flat Classification framework was introduced, meaning singles could buy two-room BTO flats islandwide.
Last year, singles started to enjoy priority access under the Family Care Scheme when they apply for a new flat to live with or near their parents.
Other changes announced during speech
During his speech, Mr Chee also announced that the 15-month wait-out period for private property owners buying non-subsidised HDB resale flats would be removed.
This means private property owners and former owners can now buy a non-subsidised HDB resale flat without an HDB housing loan.
Also, the Government has revised the Additional Buyer’s Stamp Duty (ABSD) regime for developers undertaking complex projects, including large en bloc redevelopments.
The changes give eligible projects additional time to meet ABSD remission timelines, to support large-scale urban transformation and redevelopment.
Homeownership a cornerstone of S’pore’s social compact: Chee
Mr Chee noted that homeownership is a “cornerstone” of Singapore’s social compact, to give every citizen a stake in its future and share in the fruits of its progress.
In many other societies, the failure to adequately address issues like housing affordability and widening wealth inequality has fuelled “deep social frustration”, feed ultra-right wing politics and even xenophobia, he said.
“Singapore must not go down this path,” he maintained, adding:
We have to stay open, and stay connected with the world, so that we can continue to grow our economy, and improve the lives of our people by creating good jobs that can increase their real wages.
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Featured image from MS News.
