Gov’t lifts income ceiling for BTO flats to $16,000

EC income cap will also rise to $18,000 from $16,000.

The income ceiling for Build-To-Order (BTO) flats will be raised to $16,000 from $14,000, Prime Minister Lawrence Wong announced at the National Day Rally on 23 August.

Income ceiling for executive condominiums will also be increased to $18,000 from $16,000.

Wong said more young couples are marrying later and earning more by the time they settle down, pushing more of them above the current income ceiling for subsidised public housing.

Housing supply has steadily increased, he added, with BTO booking success rates improving, waiting times shortening and the resale market stabilising.

Separately, Wong said larger families will automatically receive more financial support under the government’s broader family-support measures.

“I have asked Chee Hong Tat to consider additional housing support for larger families,” he added.

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