If you’re one of the many who are looking to purchase a resale HDB flat in Singapore, don’t fret – there are numerous grants that could assist you in doing so. The eligibility requirements offered are flexible, and so people from all kinds lifestyles and situations can apply.
Read on to learn more about what kinds of grants are available:
About the Family Grant/Additional CPF Housing Grant
The family grant is for married or engaged couples who are first-time buyers of resale HDB flats. However, what they get depends on their individual status. The conditions are as follows:
- Couples where both are Singaporean Citizens (SC): $50,000 (2-4 rooms); $40,000 (5 room or bigger)
- Couples where one is a Singapore Permanent Resident (SPR): $40,000 (2-4 rooms); $30,000 (5 room or bigger)
- If a qualifying family member becomes a SC, then they can apply for the Citizen Top-up Grant of $10,000.
The Additional CPF Housing Grant (AHG) is made available to families who hold Singaporean Citizen status. The financing gained from this can be used to directly pay for the flat purchase and whatever remaining funds may then be used to lessen the mortgage loan.
The eligibility conditions are as follows:
- Must have been eligible for the Family Grant first.
- The applicant, if engaged or married, must have had uninterrupted employment in the last 12 months and they must still be employed during the time of the application.
- Average gross monthly income 12 months before application must not have exceeded $5,000.
Proximity Housing Grants (PHG)
For those who want to live independently without having to move too far away, then the Proximity Housing Grant can help. Families or singles that live within the same neighbourhood or only 2km away from their parents are eligible for the PHG. It grants funds of $20,000 for families and $10,000 for singles to assist in purchasing a nearby resale flat.
The conditions for eligibility are as follows:
- You must be a SC. At least one of your parents or your married child should also be at least a SPR or also a SC.
- For families, the age minimum is at 21 years old. On the other hand, singles must be at least 35 years old or above if applying for either the: Single Singapore Citizen Scheme, the Joint Singles Scheme, or the Public Scheme.
- Those who are married and are applying under the Non-Citizen Spouse Scheme must be 21 years old or more.
- This is only applicable for units that are 2 rooms or bigger.
For further details regarding Proximity Housing Grants, click here.
Half Housing Grant
People who have already received a housing subsidy may reapply for another one: The Half-Housing Grant. The amount to be received will depend on the status and the gross monthly household income of all those applying.
|Income Amount||Singapore Citizen Household||Singapore Permanent Resident||Half-Housing Grant|
|$10,000 or lower||$30,000||$20,000||$15,000|
|$10,001 – $11,000||$20,000||$10,000||$10,000|
|$11,001 – $12,000||$10,000||None||$5,000|
|$12,001 – $14,000||None||None||None|
These funds can be used to balance the down payments and the subsequent payments while also lowering the mortgage loan for the Executive Condominiums (ECs).
For further details regarding Half-Housing Grants, click here.
There are a multitude of other grants available for those who do not fit the aforementioned categories. Click here for a complete list of all available schemes and housing grants.