As there are not enough rental flats in Singapore, the government may tighten the eligibility criteria to ensure that rental units go to those who need them most, according to National Development Minister Mah Bow Tan.
He added that the Housing and Development Board (HDB) will also beef up the supply of rental flats over the next two years to meet rising demand. There are over 40,000 rental flats in Singapore and most of the 1- and 2-room units are home to needy families with an average monthly household income of below S$1,500.
The monthly rental for a 1-room flat is about S$30, while a 2-room unit goes for about S$60.
HDB said the demand for such subsidised flats has risen over the years. Currently, over 3,000 applicants are on its waiting list and it could take between 5 and 11 months before they get a unit.
Touring new rental flats in Woodlands, Mr Mah said: "Theoretically, you could have sold your bungalow and join the queue for an HDB rental flat because you are a retiree – you have zero income so you meet the average household income criteria.
"But there may be other criteria that may not be tenable for you to join the HDB rental queue. These are some of the things that we need to look at. Currently, it's a very straightforward income criteria."
Mr Mah added that there has been an increase in the number of divorcees and elderly who want to monetise their assets and join the queue to rent flats.
But there are other options to unlock the value of their flats – one way is through the new Lease Buyback Scheme. Details of this initiative will be announced in March.
To ease the supply crunch, the HDB will also put out more rental flats. Its first batch of 180 newly converted rental flats in Woodlands is now ready to be allocated.
Built in 1987, the vacant block of 3- and 4-room flats was converted last April to house 1- and 2-room units.
The new rental flats are equipped with barrier-free access facilities like wheelchair-friendly lifts.
Moving around will be easier too, with ramps leading right to the doorstep. There are also low-lying switches and retrofitted toilets in the flats to cater to the disabled and the elderly.
The HDB will roll out another 748 rental flats in Boon Lay in March and 290 units in Redhill by early 2009.
In 2010, HDB is also expected to build 976 new rental flats in Choa Chu Kang, Sembawang and Yishun. - CNA/so
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