Recently, Mr. Khaw made the announcement that a rise of the income ceiling for EC condominiums and Build To Order apartments could occur as soon as August or September of this year.
It was during a live radio program on Capital 95.8 FM, MediaCorp’s own Chinese language station, that he said a person could come from an upper income bracket and not need an HDB flat. However, he felt it would be a benefit for nearly all Singaporeans to be given the opportunity of living n an HDB flat for 5 years, allowing them to interact with their community, which is a major part of Singapore’s way of life for High Park Residences.
High Park Residences Housing Policies
Presently Build To Order flats have an income ceiling of $10,000 and Executive Condos have a ceiling of $12,000. In August of 2011 both of these had been raised by $2,000, a welcome announcement to prospective buyers for High Park Residences.
One prospective buyer, 32 year old Mr. Lin, shared that both he and his fiancée are self employed. However, even though they are considered to be well off, they are not able to obtain as high of a loan that a salaried individual would qualify for. This has greatly limited their options. He further added that this results in them having to fork out more cash for a down payment for High Park Residences, which can be quite a large sum.
High Park Residences Singapore
26 year old Mr. Z Ng, who works in legal services, pointed out that, even though he and his girlfriend’s wages allow them to meet the criteria for the current income ceiling on a Build To Order flat, they are not quite ready to obtain one yet.
Some analyst shared his thoughts regarding what the potential impact may be of raising the private property market’s income ceiling in High Park Fernvale. One analyst stated that the activity in the private market will be affected by the demand that is shifted to the HDB Built To Order market. Regardless of whether it is developer projects being resold or leasing, in the end it means a balance (good or bad) on both sides.
More looking at High Park Condo Fernvale
Other analysts have stated that there is a demand in the private residential market that comes from both foreign and local investors due to Singapore remaining an attractive destination for investing. Furthermore, once the income ceiling has been raised for Executive Condos, developers will have a much larger collection of buyers for High Park Residences.
Another analyst is of the opinion that whether or not higher income people will eventually opt for and HDB flat remains to be seen, and it is thought that this figure would not be very big. There will be a market for private properties due to HDB flat owners who are aspiring to upgrade to the private housing sector for High Park Residences.