HDB and MND have just announced a $20k grant with relatively few restrictions — Proximity Housing Grant (PHG). This will replace the Higher-Tier CPF Housing Grant.
The PHG grant is to help Singaporeans buy a resale flat, with or near their parents or married child.
Starting immediately, eligible Singaporeans will receive a Proximity Housing Grant (PHG) of S$20,000; eligible singles will get a Proximity Housing Grant (PHG) of S$10,000 if they buy a resale flat with their parents.
Good things about this grant –
- All Singaporeans are eligible for it once in their lifetime – whether they have enjoyed housing subsidies before ( those whom get higher tie HDB grant before are also eligible YEAH ), regardless what their household income is or whether they own private property
- This PHG grant has NO income ceiling
Higher Income Ceilings
Also announced in the same press release are changes to the income ceilings for citizen households buying HDB flats (new and resale) and Executive Condominiums (new). The new ceilings are respectively: $12k for HDB flats and $14k for ECs. This means more people are now eligible to buy these HDB housing units. It shows that MND and HDB are committed to helping Singaporeans own a flat, particularly young couples setting up their first homes.
The last raised the income ceiling in 2011
Source – MND, HDB, Today, Asiaone