The Housing and Development Board (HDB) will remove the upgrading condition for the second concessionary loan to households, Mah Bow Tan, Minister for National Development said on Friday.
What this means in future is that both HDB flat upgraders and those who downsize will be eligible for the second HDB loan, with the focus on helping families to right-size their housing choices, he said.
'With greater economic volatility, the flexibility to right-size will become more important. Therefore, I have decided to remove the upgrading condition for the second concessionary loan.'
Mr Mah was responding to feedback that by providing the second concessionary loan to households only for upgrading may inadvertently drive some people to upgrade even though it may be more prudent for them not to do so.
Source: Business Times, 5 Mar 2010
No comments:
Post a Comment