Close to S$500 million in housing grants disbursed to 15,600 first-time home buyers since Sept 2019
SINGAPORE — Close to S$500 million have been disbursed in the form of housing grants to about 15,600 first-time home buyers since the Enhanced CPF Housing Grant (EHG) was introduced in September 2019, the Housing and Development Board (HDB) said on Sunday (Feb 21).
SINGAPORE — Close to S$500 million have been disbursed in the form of housing grants to about 15,600 first-time home buyers since the Enhanced CPF Housing Grant (EHG) was introduced in September 2019, the Housing and Development Board (HDB) said on Sunday (Feb 21).
Under the scheme, families buying their first home and earning not more than S$9,000 a month can receive up to S$80,000 in grants.
Singles buying their homes for the first time and earning not more than S$4,500 a month can receive up to S$40,000.
The EHG replaces earlier housing grants, such as the Additional CPF Housing Grant and the Special CPF Housing Grant, and is available to eligible buyers regardless of whether they buy a new or resale flat. There are also no restrictions on the choice of flat type or location.
Since the scheme’s launch till Dec 31, 2020, about 7,700 first-time new flat buyers have applied for the EHG and about S$270 million have been disbursed.
Over the same period, 8,300 first-time resale flat buyers have applied for the grant and about 7,900 households have received the money, which totals about S$226 million.
In addition to the EHG, families or singles who buy flats to live with other members of their family or stay close by can receive a Proximity Housing Grant (PHG).
Since its introduction in August 2015, about 40,900 households have applied for the PHG.
Out of these, 40,200 households have received the grant, which amounted to a total of S$748 million being disbursed.
The number of households that have applied for the PHG makes up about 34 per cent of the 121,600 applications registered between Aug 24, 2015 and Dec 31, 2020.
Among them, 78 per cent of the applicants are families while the other 22 per cent are single-person households. About 55 per cent of applicants bought flats in non-mature estates while the rest bought units in mature ones.
As at 31 Dec, 2020, HDB said that about 4,700 first-time home owners have received both the EHG and PHG.