2024年9月9日，新加坡國家發展部長李智陞在國會書面答覆西海岸集選區議員胡美霞、盛港集選區議員蔡慶威以及楊厝港單選區議員葉漢榮有關住房津貼增加對轉售組屋價格的影響，以及按單位類型劃分的轉售組屋價格趨勢問題。
以下內容為新加坡眼根據國會英文資料翻譯整理：
胡美霞（西海岸集選區議員）女士詢問國家發展部長：
符合條件的首次購買轉售組屋的家庭的住房補助金總額增加到23萬新元，是否會導致組屋轉售價格上漲，因為賣家可能會在增加支助的情況下要求更高的價格？
蔡慶威（盛港集選區議員）詢問國家發展部長：自2022年9月30日以來獲得組屋貸款的首次購房者中，按所貸款的組屋類型細分，貸款價值比率為 80%、75% 至 80% 之間和低於75%的貸款數量和百分比分別是多少？
蔡慶威（盛港集選區議員）詢問國家發展部長:
(a) 今年迄今和過去五年，按單位類型細分的組屋轉售價格指數情況如何?
(b) 今年迄今和過去五年，按單位類型細分的組屋轉售單位價格，每年平均漲幅是多少?
(c) 不同單位類型的組屋價格漲幅不同的原因是什麼?
李智陞（國家發展部長）先生：我的答覆還將涵蓋葉漢榮（楊厝港單選區議員）先生計劃於後續會議上提出的問題。
2024年8月20日，國家發展部 (MND) 實施了兩項措施：(1) 建屋發展局 (HDB) 房屋貸款的貸款與估值比率頂限（Loan-To-Value limit，簡稱LTV頂限）由80％調低至75％；(2)提高額外安居津貼（Enhanced CPF Housing Grant，簡稱EHG）頂限，以幫助中低收入首次購房者購房。首先，請允許我介紹一下導致採取這些措施的住宅物業市場的最新情況，然後再闡述每項措施對購房者的影響。
住宅物業市場狀況。國家發展部一直密切關注私宅（PRP）和組屋轉售市場。隨著政府土地出售計劃中的預購組屋（Build-To-Order）單位和私宅供應量的增加，以及2021年12月、2022年9月和2023年4月的三輪降溫措施，私宅（PRP）和組屋轉售市場在2023年都出現了放緩跡象。2024 年上半年，私宅（PRP）市場繼續保持穩定。然而，組屋轉售市場的轉售價格指數（RPI）卻上漲了4%以上。由於交易量較小，且某些類型的房屋價格隨時間波動，我們無法提供按房屋類型劃分的轉售價格指數。總體而言，所有單位類型的住宅價格都與市場同步上漲。作為替代，議員可以參考建屋局信息網（HDB InfoWEB）按城鎮和單位類型分列的轉售價格中位數季度數據。
較低的貸款與估值比率頂限（簡稱LTV頂限）的影響。蔡慶威先生詢問那些獲得建屋局貸款的人的LTV狀況以及他們購買的單位類型。大多數獲得建屋局貸款的買家在購買組屋時都非常謹慎，幾乎有九成的買家已經擁有低於75%LTV。因此，他們不會受到LTV頂限降低的影響。對於那些LTV較高的購房者（在 75% 至 80% 之間），我們注意到這些購房者不成比例地購買了更大的戶型，並支付了更高的價格。2023 年，在獲得建屋局貸款的轉售組屋買家中，大約九成的LTV超過75%的人購買了4室及更大的戶型單位；而LTV為75%及以下的人中約有七成購買了4室及更大的戶型單位；根據單位類型，LTV超過75%的中位轉售買家比購買相同單位類型的LTV為75%及以下的中位轉售買家多支付約2萬至6萬新元。
因此，調低貸款比率頂限能鼓勵更謹慎的借貸，並緩解高端市場的需求，這應該對穩定其餘轉售市場起漣漪效應。歷史經驗告訴我們，房地產市場是有周期性的，當市場降溫時，通過較高貸款購買較貴組屋的屋主，在市場冷卻時，也將受到較大的衝擊。政府將留意降溫措施實施後的市場走向，並在必要時採取措施。
提高額外安居津貼（EHG）的影響。EHG 是經過經濟狀況調查的、漸進的和有針對性的津貼。最新一輪的措施是分層的，低收入的首次購房家庭將獲得更多支持。這降低了助長更廣泛轉售市場的風險。此外，賣家可能無法估計買家獲得的補助金額，因為建屋局不會與賣家分享買家的個人信息，包括買家有權獲得的津貼。
對低收入家庭的影響。葉漢榮先生對較低的LTV頂限對低收入家庭的影響表示擔憂，例如那些從租房過渡到購房的家庭。低收入的首次購房家庭不必擔心，因為EHG的增幅將足以抵消這些家庭因LTV頂限降低導致的貸款額度減少。換句話說，當這兩項措施疊加在一起時，他們的總住房預算實際上增加了，因此比以前更容易實現自置居所。可能有少數低收入家庭（包括第二次購房者）受到較低LTV頂限的影響，但沒有資格獲得EHG。我鼓勵他們主動與建屋局聯繫，討論他們的住房選擇。建屋局有專門針對低收入二次購房家庭的支持計劃，如 「住屋提升津貼」（Step-Up CPF Housing Grant）或 重新擁屋計劃（Fresh Start Housing Scheme）。
這些最新變化反映了政府為新加坡人提供多種負擔得起的住房選擇的承諾。我們將繼續密切關注私宅和組屋轉售市場，並將毫不猶豫地採取果斷行動，以確保價格與經濟基本面保持一致。
以下是英文質詢內容：
Ms Foo Mee Har asked the Minister for National Development whether the increase in total housing grants to $230,000 for eligible first-timer families who buy a resale HDB flat will lead to higher resale prices of HDB flats as sellers may demand more in light of the increased support.
Mr Chua Kheng Wee Louis asked the Minister for National Development for first-time home buyers who obtained a HDB housing loan since 30 September 2022, what is the number and percentage of loans that have a loan-to-value ratio of (i) 80%, (ii) between 75% and 80% and (iii) less than 75%, broken down by the flat type being financed.
Mr Chua Kheng Wee Louis asked the Minister for National Development (a) what is the decomposition of the HDB Resale Price Index by flat type in the year-to-date and the last five years; (b) what is the average increase in HDB resale flat prices by flat type in the year-to-date and in each year of the last five years; and (c) what are the reasons for the differences in price increases across the flat types.
Mr Desmond Lee: My response will also cover matters raised in the question by Mr Yip Hon Weng scheduled for a subsequent Sitting.
On 20 August 2024, the Ministry of National Development (MND) implemented two measures: (a) the Loan-To-Value (LTV) limit for Housing and Development Board (HDB) housing loans was lowered from 80% to 75%; and (b) the Enhanced CPF Housing Grant (EHG) was increased to help lower- to middle-income first-timers purchase their homes. Let me first provide an update on the state of the residential property market that led to these measures before elaborating on the impact of each measure on home buyers.
State of the residential property market. MND has been closely monitoring both the private residential property (PRP) and HDB resale markets. Following a ramp-up in the supply of Build-To-Order flats and private housing in the Government Land Sales programme, as well as three earlier rounds of cooling measures in December 2021, September 2022 and April 2023, both the PRP and HDB resale markets showed signs of moderation in 2023. In the first half of 2024, the PRP market continued to remain stable. However, the resale price index (RPI) for the HDB resale market rose by more than 4%. We are unable to provide a breakdown of RPI by flat type, due to the small transaction volume and fluctuations over time for some flat types. Broadly speaking, prices have increased across all flat types, in sync with the wider market. As a proxy, the Member can refer to the HDB InfoWEB for the quarterly data on the median resale price by town and flat type.
Impact of the lower LTV limit. Mr Louis Chua asked about the LTV profile of those taking up HDB loans and the flat types they purchased. Most flat buyers who take HDB loans are already prudent in their flat purchases, with almost nine in 10 already having LTV ratios of below 75%. They will, therefore, not be affected by the LTV limit reduction. For those with higher LTV ratios of between 75% and 80%, we have observed that these buyers disproportionately bought larger flat types and paid higher prices. In 2023, amongst resale flat buyers who took HDB loans (a) about nine in 10 with LTV ratios above 75% bought 4-room and larger flats, compared to about seven in 10 for those with LTV ratios of 75% and below; and (b) depending on the flat type, the median resale buyer with an LTV ratio above 75% paid about $20,000 to $60,000 more than the median resale buyer with LTV ratio of 75% and below who bought the same flat type.
