S'pore reviewing lowering BTO eligibility age for singles & raising income ceiling: Chee Hong Tat

Singapore is looking at possibly making changes to two eligibility conditions for buying Build-To-Order (BTO) flats: the income ceiling for couples, and the minimum age requirement for singles.

Currently, couples whose combined monthly household income exceeds S$14,000, and singles under 35, are not eligible to apply for a BTO flat.

In a media interview posted on The Straits Times on Aug. 5, National Development Minister Chee Hong Tat said that both these policies are under review, and changes would come "at an appropriate time", as quoted by CNA.

The government wants to "support more people to be eligible to try for new BTO flats", he said.

He noted that some families interested in BTO flats would have more than S$14,000 in monthly income with salaries rising over the years, The Business Times reported.

In addition to potentially raising the income ceiling, the government will assess whether it can reduce the eligible age for singles, "so that singles can come in and buy BTO flats at an earlier age".

These policy moves would cause demand to go up, Chee added.

Thus, Singapore will need a strong supply of BTO flats over the next few years to create the right conditions for making these changes.

Increasing supply

In the same interview, Chee said that the government will be "building more and building faster" to meet the needs of homebuyers.

Approximately 55,000 BTO flats will be launched from 2025 to 2027, 10 per cent more than the initial target of 50,000.

They will be built across the country, including in new estates such as Mount Pleasant, Woodlands North Coast, Sembawang North and the former Keppel Club golf course.

Many of the new flats will also have shorter waiting times of less than three years.

Around 4,500 such flats are expected to be available for sale this year, up from around 2,800 in 2024.

The higher supply and faster launch will help to not only manage demand in the resale market, but also consequently moderate resale flat prices, Chee explained.

More private housing will also be built.

Over 25,000 private residential units will be launched through the government land sales (GLS) programme between 2025 and 2027.

Adding on those already in the pipeline, over 70,000 units will be completed by around 2030, Chee shared.

Stabilising resale flat prices

Regarding public concern about resale flat prices, Chee highlighted that there are resale flats available at different price points.

"It is reasonable for resale flats in prime locations with desirable attributes to sell at higher prices," he said.

For those looking for four-room resale flats with leases of 70 years or longer, Chee gave examples of options below S$600,000 in Sembawang and Yishun, and below S$550,000 in Jurong West and Woodlands.

At the same time, there has been some moderation in price growth, Chee added.

The quarter-on-quarter resale price index growth for the second quarter of 2025 was 0.9 per cent – the lowest since the second quarter of 2020, BT reported.

As more BTO flats reach their minimum occupation period starting from 2026, the supply of resale flats is expected to increase, Chee shared, and that could lead to a further stabilisation of resale flat prices.

When that happens, the government will consider removing the 15-month wait-out period for private property owners to buy non-subsidised Housing Development Board (HDB) flats, he said.

Top image from the HDB's Facebook page