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More Apartments to be Supplied for Big Families

Written: 2016-11-07 11:06:51Updated: 2016-11-07 11:20:50

More Apartments to be Supplied for Big Families

It will become easier for parents with three or more children to subscribe for new apartments.
 
The Ministry of Land, Infrastructure and Transport made a prior announcement on Monday of an amendment intended to increase the availability of apartments for people with three or more children.
 
Under the amendment, a certain proportion of apartments will be set aside for non-homeowners with three or more children when construction companies sell apartment purchasing rights. The new regulation won't be compulsory, but it is likely to be followed at most new developments. Construction companies must receive approval from local governments before they are able to sell purchasing rights for pre-constructed apartments. Local governments are expected to demand that the companies set aside apartments for multi-child families during the approval process.
 
The amendment allows unborn babies and adopted children to be counted toward the number of children. This means, those with two children with a baby on the way will be eligible for the benefit.
 
The amendment will go into effect from around next Tuesday. 

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