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As announced by the Prime Minister on 28
August 2005, HDB has reviewed and fine-tuned its housing policies to
help elderly Singaporeans meet their housing and retirement needs. The
changes are in three areas: |
(a) encouraging the elderly to live with
their family
(b) facilitating the elderly to buy studio apartments
(c) upgrading more HDB rental flats with elderly-friendly features |
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(A) ENCOURAGING THE ELDERLY TO LIVE WITH
THEIR FAMILIES |
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Currently, extended families buying new
flats directly from HDB enjoy a higher monthly household income ceiling
of $12,000, compared to $8,000 for nuclear families. |
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To encourage extended family living, HDB
will extend the $12,000 monthly income ceiling to extended families
buying resale HDB flats with the CPF Housing Grant. The revised policy
will apply with immediate effect. The cut off date for submission of
resale applications is at Annex A. |
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(B) FACILITATING THE PURCHASE OF STUDIO
APARTMENTS |
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HDB launched the Studio Apartment (SA)
scheme in 1998 to provide a housing option for the elderly who wish to
maintain their independence while living near their children and
friends. |
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The scheme allows HDB flat lessees and
private property owners who are at least 55 years old to sell their
existing properties and buy SAs at affordable prices and to use the
balance of the sales proceeds for their retirement needs. SAs are
specially designed with elderly-friendly features. |
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There is also a Neighbourhood Link run by a
Voluntary Welfare Organisation (VWO), which provides social and communal
facilities and services to the elderly residents. |
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The SA scheme has been well received. All
the SA units in the pilot project were taken up. HDB¡¯s survey of SA
owners conducted in 2002 showed that 95% of them were satisfied with
their living environment. |
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HDB's latest offer of integrated SAs in the
Oct 2004 Balloting Exercise was also fully subscribed. |
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Going forward, new SAs will be included as
part of HDB's building plan and offered for sale under the
Build-To-Order system. This will provide another affordable housing
option for elderly Singaporeans. |
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Revised Conditions for Purchase of SA |
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To further enhance the attractiveness and
affordability of SAs, HDB will revise the conditions for the purchase of
SAs as follows: |
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(a) Removal of Medisave top-up
requirement |
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SA buyers have to currently top-up their
Medisave account to the prevailing limit. The requirement was first
introduced to ensure that the elderly have adequate funds to meet their
healthcare needs. |
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However, given that CPF members already need
to contribute to their Medisave accounts, MND has decided to remove the
Medisave top-up requirement for SA buyers. With the revision, SA buyers,
like other HDB flat buyers, will no longer need to top-up their Medisave
account. |
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(b) Removal of 20% premium |
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The 20% premium on the purchase price of SAs
was imposed on SA buyers who have enjoyed two or more housing subsidies
because such buyers would normally not be allowed to buy another flat
from HDB. This was to better manage demand for the SAs in the pilot
project. With SAs now incorporated as part of HDB's building plan, the
20% premium will be removed. |
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(c) Removal of requirement for
non-property owners to include children |
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Previously, elderly non-property owners
living with their children were required to include at least one of
their children in their application to buy SA. This was to encourage
continued mutual care and support of the elderly in the SA unit. HDB
will now remove this condition, thus allowing the elderly to decide on
their own living arrangement. |
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(d) Allow use of CPF for purchase of
SAs |
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To facilitate the elderly to buy SAs, buyers
aged at least 55 years will now be able to use their CPF to buy SAs
after they have set aside at least the full cash component of their
Minimum Sum. |
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The SA would then be pledged for the amount
of CPF used, up to the maximum pledge allowed under the Minimum Sum
Scheme. |
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These revised conditions will take immediate
effect. The cut-off date will be based on the date of booking of the SA. |
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More..... |
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Source:
www.hdb.gov.sg Press Release 29 Aug
2005 |
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Review of housing options for the elderly
