Singapore to build 2000 rental flats next year

To address the needs of Singapore’s lower-income families, the government will build some 2,000 rental flats starting next year, reported The Straits Times.

This is part of the government’s plan to deliver 57,000 rental flats by 2015, in response to growing demand.

A spokesperson from the HDB said it is “on track” to meet the government’s target of 50,000 rental flats by this year.

The 2,000 units will be located in Punggol, Yishun, Sembawang, Sengkang and Bukit Batok. They are expected to be ready for occupation by 2014, added the spokesperson.

In his National Day Rally speech last year, Prime Minister Lee Hsien Loong said that many families cannot afford to buy their own flats; hence, rental homes are a necessity.

Typically, these flats are one- or two-bedroom units and are rented out for around S$26 to S$275 per month, depending on the tenant’s income.

Teo Ser Luck, MP for Pasir Ris-Punggol GRC, said that requests for rental flats usually come from the elderly with domestic issues and younger couples or families facing financial problems.

Source : PropertyGuru – 25 Oct 2012

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