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MND to look into more help for resale flat buyers wishing to live near parents: Khaw
THE Ministry of National Development (MND) will study whether it can provide more help for those who wish to buy a resale flat to live near their parents, said Minister for National Development Khaw Boon Wan on Friday.
In an MND blog post, Mr Khaw noted that more Singaporeans would like to buy a flat with or close to their extended families in mature estates, given the benefits of such arrangements.
"Since 2011, we have enhanced various priority schemes and introduced a new flat type to help extended families live together or close by for mutual care and support. They have produced good results," said Mr Khaw.
According to MND's data, 24 per cent of BTO (Build to Order) flat applicants applied under one of these schemes, and enjoyed higher success rates than those who did not.
The proportion is even higher - up to 36 per cent - in mature estates like Tampines and Bedok.
MND also said that other schemes are also gaining in popularity; the proportion of applicants applying under the Multi-Generation Priority Scheme (MGPS) or for 3Gen flats doubled from 5 per cent in 2013 to about 10 per cent in 2014.
"We have tried to meet these needs (for flats close to extended families), by launching more flats in mature estates," said Mr Khaw, citing the BTO project in Tampines North last year, and the upcoming Bidadari launch.
Still, he noted that there is limited land for such launches. That is why, he said, the government gives an additional $10,000 under the higher-tier CPF Housing Grant of $40,000, to help first-timer families buy a resale flat to live together or close to their parents or married children.