May 20, 2009 Wednesday
Updated

May 20, 2009
Addendum to President's address
Public housing still a priority
By Jessica Cheam
Public housing will remain a key pillar of Singapore's social security system, and HDB will exercise flexibility for families affected by the downturn and are unable to pay their home loans. --PHOTO: NP

THE National Development Ministry will 'press on' with long-term plans to make Singapore an attactive and liveable city, even as it helps Singaporeans tide over the current economic uncertainty.

Public housing will remain a key pillar of Singapore's social security system, and HDB will exercise flexibility for families affected by the downturn and are unable to pay their home loans, said National Development Minister Mah Bow Tan on Wednesday in his addendum to President S R Nathan's address on Monday.

Outlining the priorities of the Government for the legislative term on Monday night, Mr Nathan gave the assurance that every worker and family will be helped.

'In this downturn, lower-income Singaporeans will not be left to fend for themselves,' he promised.

The Housing Board, for example, has increased the Additional Housing Grant and relaxed rules to include more low- to middle-income families.

It will also be increasing the supply of rental flats and smaller studio, two- and three-room flat types as more affordable housing options for the low-income and elderly.

Initiatives such as the lease buyback scheme allows elderly folk to monetise their flats, while getting an annuity at the same time.

Some $5 billion will be invested in upgrading HDB estates and homes, including accelerating such programmes.

Property and construction markets will be closely monitored and if necessary, MND will 'adopt additional measures to support their efficient functioning and stability', said Mr Mah.

Meanwhile, investments in infrastructure will be stepped up to boost new growth areas such as the Marina Bay, Jurong Lake District, Kallang Riverside and Paya Lebar.

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