Singapore residential building, also known as HDB

SINGAPORE: National Development Minister Desmond Lee has confirmed that the Government will maintain the existing $14,000 monthly household income ceiling for first-time buyers of Build-To-Order (BTO) flats, with no plans to introduce a higher threshold for applicants earning between $14,000 and $16,000.

This decision, Mr Lee indicated, is aimed at ensuring that limited housing supply and subsidies remain accessible to lower- and middle-income families.

Minister Lee explained that approximately 80% of Singaporean households fall within the $14,000 income ceiling, which is designed to target assistance where it is most needed.

“The current income ceiling allows us to prioritise the lower- to middle-income households for subsidised housing, ensuring that the subsidies are directed to those who need it most,” he said.

While some households earning between $14,000 and $16,000 may feel limited by the cap, the minister highlighted that these families still have access to other housing options.

In particular, he said they can explore purchasing resale HDB flats, which have no income ceiling restrictions, as well as Executive Condominiums (ECs).

Moreover, these higher-earning households can also qualify for the Proximity Housing Grant (PHG), which offers up to $30,000 in financial support for those purchasing a resale flat near or with their parents or children. This scheme allows greater flexibility for families looking to live close to one another while still benefitting from some government assistance.