Prime Minister Lawrence Wong reaffirmed the government's commitment to keeping public housing affordable for Singaporeans during a dialogue session on January 21. He assured that new Build-to-Order (BTO) flats will continue to be priced in relation to income levels rather than the resale market, ensuring accessibility for the majority of citizens.

Addressing concerns over housing affordability, Mr. Wong noted that while reports of million-dollar HDB flats might cause anxiety, these prices must be viewed in the context of rising incomes. He pointed out that more than 80 per cent of first-time homebuyers today can finance their flats with Central Provident Fund (CPF) contributions, requiring little to no cash payments. This contrasts with earlier generations who, despite facing lower housing prices, had to allocate a significant portion of their take-home pay toward mortgages.

To address rising property prices, the government has been ramping up the supply of both public and private housing. These measures are expected to help stabilize the property market over time, although the effects will take some time to materialize. Mr. Wong emphasized that the government remains vigilant in ensuring that BTO flats remain affordable for Singaporeans.

HDB has various housing grants to benefit buyers in their flat purchases. 

• Enhanced CPF Housing Grant (EHG): Up to $120,000 for eligible first-time buyers.
• Step-Up CPF Housing Grant: $15,000 to help families upgrade from smaller flats to larger ones.
• Proximity Housing Grant (PHG)