HDB Income Ceiling


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?



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  1. condo demand will drop like a rock. the market is already negatively affected by the stock market turmoil and now this. sigh.

  2. HDB are also overpriced too.

    Recession is coming soon. Our brilliant government will soon be able to point the blame on singaporeans’ overpriced wages & cut wages soon, so no need to change income ceiling too !

  3. Since more demand will shift to BTO flats, government has greater control over general property prices. The ball is now in their hands. How moderate the prices will go is up to them.

  4. I hope HDB has the will power to do the right thing. Prices of new BTO flats should at least be 20% lower than what they currently deem as “market subsidized rate”.

  5. Whether high end condos are affected depends on how leveraged are the owners.
    Overall, doesnt look good for high end condos as
    – rental yields are so low at 2%
    – prices coming down by 1.7% according to a property firm
    – not many expats have fat housing allowances to rent these condos
    – job cuts in banking sector make local bankers cautious of making expensive commitments
    – supply keep increasing as more offices around shenton area are converting to condos

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