New HDB subsidies and scheme

A summary of the upcoming HDB subsidies and scheme

Singaporean families who are of higher income may now be qualified to purchase HDB or even Executive Condominiums as the income ceilings for both are being increased. Income Ceiling for HDB is raised from $10,000 to $ 12,000 while for EC will be from $12,000 to $14,000.

For HDB flat purchasers who have an household income of $8,500 per month will also be qualified for the CPF Special Housing grant of up to maximum $40,000. Previously, the maximum CPF Housing Grant was up to $20,000.

A new Proximity Housing Grant catering to families who wanted to stay near or together with their parents or married children is also introduced. This new grant will be applicable to both first-timers or non-first-timers who are buying HDB flats from the resale markets. For first-time buyers, they might be granted to an amount of up to $40,000 if they bought a resale HDB and stayed with their parents or if the HDB is of the same town or within 2 km from their parents.

A Fresh Start Housing Scheme will soon be introduced as well to help second-timer rental households to own a two-room HDB flat. A Fresh Start Housing Grant will also be made available for the rental households. Details of this scheme is yet to be finalised.

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