The following News Highlights covers the two topics:

i)                    Staggered downpayment for right-sizing to 2-Room or 3-Room flats; and

ii)                   Population In Brief report 2014



At the latest Build-To-Order (BTO) launch on Wednesday, 24 September 2014, HDB announced that existing flat owners who right-size to a new 2-room or 3-room flat in a non-mature estate/town will be able to enjoy the Staggered Downpayment Scheme, where they pay half the downpayment for the new flat.


The following are the main details of the Staggered Downpayment Scheme.


1.       HDB flat owners who wish to right-size to a 2-room or 3-room BTO/Sale of Balance flat will now only need to pay half of the downpayment when they sign the Agreement for Lease


a.         A 5% downpayment to be paid upfront for HDB loan cases or those who do not need a loan, down from the existing 10%.

b.        A 10% downpayment to be paid upfront for loans taken from financial institutions (regulated by the Monetary Authority of Singapore), down from the existing 20%.

2.       They only need to pay the other half of the downpayment together with the balance purchase price of the new flat when the new flat is ready and they collect the keys.

3.       This will help HDB flat owners who want to right-size but cannot pay the full downpayment because their funds are tied up in the existing flat.

4.       Who are eligible for the Staggered Downpayment Scheme?

a.         They have applied to buy a 2-room or 3-room flat in Build-To-Order/Sale of Balance Flat exercises from September 2014 onwards (The next Sale of Balance Flats exercise is in November 2014);

b.        The new flat is in a non-mature estate; and

c.         They have not sold their existing flat (or the sale of the existing flat has not been legally completed) when they apply for a new flat.

5.       Flat owners do not need to apply for the Staggered Downpayment Scheme. The HDB will automatically extend it to those who are eligible.

More information on the Staggered Downpayment Scheme:




The National Population and Talent Division released its annual publication Population in Brief report on Thursday, 25 September 2014. The report provides relevant information on Singapore’s population landscape and contains a collation of key population indicators and demographic trends.


The following highlights the main findings of the report:


1.       Overall:

a.         Slowest population growth in the last decade (1.3%).

b.        As of June 2014, Singapore’s total population was 5.47 million

2.       Citizen/PR population:

a.         Citizen population grew by 0.9% while PR population remained stable.

b.        Our citizen population continues to age – percentage aged 65 and above higher than last year.

c.         Ethnic profile of citizen population remains stable.

d.        Fewer Singaporeans are getting married, and having children. Our total fertility rate dipped from 1.29 in 2012 (Dragon Year) to 1.19 in 2013 across all ethnic groups.

3.       Non-resident population: (This group is not here for good – It is made up of foreign workers, employment pass (EP) holders, students – and depends on the state of our economy)


a.         Growth of this group slowed – mainly due to concrete steps taken to slow foreign workforce growth to a more sustainable pace.

b.        Bulk of foreign employment growth was in construction – to support infrastructure projects (building homes, MRT projects and hospitals).


4.       Businesses will face a tight labour market as we restructure the economy.

a.         Singapore remains business friendly.

b.        Government programmes are helping businesses to become more productive and rely less on foreign workers.

c.         Businesses can grow and succeed here, and create quality jobs for Singaporeans.

To download the full report: