The HDB Income Ceiling will be raised to $10,000 for BTO flats and $12,000 for ECs (executive condominiums).
[Update 15th Aug 2011: The revised HDB income ceiling will take effect today, 15th Aug 2011. Source: Straits Times.]
Previously, the respective ceilings were $8,000 and $10,000.
This was just announced by PM Lee Hsien Loong in his 2011 National Day Rally Speech.
PM Lee acknowledged that due to the revision of the income ceilings, demand will definitely go up for HDB apartments. To meet the increased demand, HDB will be building another 25,000 apartments next year.
Does this mean that demand for condos and private apartments will go down correspondingly?