New housing scheme to be more inclusive

National Development Minister Khaw Boon Wan said the new two-room Flexi housing scheme will see a more inclusive arrangement with the elderly and young living within the same block, reported The Straits Times.

Under the scheme, the two-room flats and studio apartments are placed in one category and sold under the same scheme.

The buyers will be diverse - there will be some elderly people, younger people; some may be getting married, others may be married, and then there are those with kids, noted Mr Khaw at a dialogue organised by Chinese daily Lianhe Zaobao.

The current practice of having the entire block of studio apartments occupied by the elderly may not be beneficial for their mental outlook, he shared.

The plan to put the two-room flats and studio apartments under the same scheme which will offer varying lease periods was first mentioned by the Minister during the 2015 Budget in March.

He had stated in June that the length of leases would be restricted based on the age of the buyers.

During the dialogue, Mr Khaw revealed that the scheme is expected to be ready by the next BTO exercise in September.

Two-room flats currently have a 99-year lease and are offered to families or singles, while studio apartments come with a 30-year lease and are allocated for individuals aged 55 and above, who have sold their previous flat to finance their retirement.

While both flat types have the same sizes of 36 sqm or 45 sqm, studio apartments are cheaper due to their shorter lease.

Romesh Navaratnarajah, Singapore Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@propertyguru.com.sg

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