Public housing remains top priority

The National Development Ministry will pursue its long-term plan to make Singapore a better and attractive city to live, as well as to help Singaporeans tide over the current economic difficulties.

Public housing in the country will remain as a basic factor for Singapore's social security system. The Housing Development Board (HDB) will exercise flexibility to families affected by the economic downturn and who are unable to pay their housing loans, said National Development Minister Mah Bow Tan, adding to President S R Nathan's statement on Monday.

Outlining the government’s priorities for legislative terms on Monday night, the Minister assured that every family and worker in the country will get assistance.

“In this downturn, lower-income Singaporeans will not be left to fend for themselves,” he said.

HDB, for instance, increased its Additional Housing Grant and loosened its rule to include those low- to-middle income households.

HDB will also increase the supply of smaller studio and rental flats as well as the two- and three-room flats, as more affordable housing options are open for low-income families and elderly.

Programmes like lease buyback scheme allows elderly to monetise their flats while enjoying a pension at the same time.

About $5 billion will also be invested for the improvement of HDB estates, including enhancing of such programmes.

Construction and property market will be closely watched and if needed, MND will “adopt additional measures to support their efficient functioning and stability,” said Mr. Mah.

Meanwhile, investment on infrastructure projects will be increased to boost new growth in areas such as Jurong Lake District, Paya Lebar, Kallang Riverside and Marina Bay.