Budget 2023 has announced a series of higher housing grants to better support you and your family in purchasing your first home. This article summarizes all the available grants that you can consider when purchasing a HDB resale flat.
Higher Housing Grants for First-Timers Families purchasing resale flats
1.CPF Housing Grant (Families)
For first-timer families buying a 2-room to 4-room resale flat, maximum housing grant is increased from $50,000 to $80,000. Buying a 5-room or larger resale flat, the maximum housing grant is increased from $40,000 to $50,000.
With effect from 1 April 2023, eligible first-timer families may receive up to $80,000 CPF housing grant. Additionally, for eligible applicants who had submitted your resale application on or after 14 February 2023, 3.30pm will qualify for the increased CPF housing grant as well. The additional grant amount will be credited to your CPF account within 3 months from the date of resale completion.
Eligibility:
- Couples or families who are first-timer applicants buying an HDB resale flat
- You must be a Singaporean citizen and include at least one other Singaporean or Singapore Permanent Resident
- You must be at least 21 years of age
- You must not received any housing subsidy before
- Average gross monthly household income must not exceed $14,000 or $21,000 if purchasing with an extended or multi-generational family
- You must not own or have an interest in any local or overseas private property
- You must not be buying an HDB flat that has been announced for SERS
- You must not have disposed of any private property in the last 30 months before the flat application
- The remaining lease of purchased property need to be more than 20 years
2.Enhanced CPF Housing Grant (Families)
The Enhanced CPF Housing Grant (EHG) is applicable for both new and resale HDB flat purchases.
For first-timer families purchasing a resale flat and are qualified for the CPF housing grant, you can apply for EHG and get up to $80,000.
3.Proximity Housing Grant (Families)
If you are purchasing a resale flat to live with your parents/child, you can get $30,000 of Proximity Housing Grant.
If you are purchasing a resale flat that is in close proximity to your parents/child (within 4km radius), you can get $20,000 of Proximity Housing Grant.
In summary, eligible first-timer families can receive up to $190,000 of total housing grants, which is an increase of $30,000.
Higher Housing Grants for First-Timers Singles Purchasing Resale Flats
1.CPF Housing Grant (Singles)
For first-timer singles buying a 2-room to 4-room resale flat, maximum housing grant is increased from $25,000 to $40,000. Buying a 5-room or larger resale flat, the maximum housing grant is increased from $20,000 to $25,000.
With effect from 1 April 2023, eligible first-timer singles may receive up to $40,000 CPF housing grant. Additionally, for eligible applicants who had submitted your resale application on or after 14 February 2023, 3.30pm will qualify for the increased CPF housing grant as well. The additional grant amount will be credited to your CPF account within 3 months from the date of resale completion.
Eligibility:
- First-timer applicants aged 35 years old or above who are purchasing a resale flat on their own/with other first-timer single citizens/with their parents OR
- First-timer applicants aged 21 years old or above who are purchasing a flat with your non-resident spouse
- You must be a Singaporean citizen
- You must not received any housing subsidy before
- Average gross monthly household income must not exceed $7,000 if purchasing on your own or $14,000 if purchasing with your family or other singles
- You must not own or have an interest in any local or overseas private property
- You must not be buying an HDB flat that has been announced for SERS
- You must not have disposed of any private property in the last 30 months before the flat application
- The remaining lease of purchased property need to be more than 20 years
2. Enhanced CPF Housing Grant (Singles)
The Enhanced CPF Housing Grant (EHG) is applicable for both new and resale HDB flat purchases.
For first-timer singles purchasing a resale flat and are qualified for the CPF housing grant, you can apply for EHG and get up to $40,000. If you are buying with other first-timer single(s), up to 2 singles may each be eligible for EHG (up to $40,000 each) and receive up to $80,000 in total EHG.
3. Proximity Housing Grant (Singles)
If you are purchasing a resale flat to live with your parents/child, you can get $15,000 of Proximity Housing Grant.
If you are purchasing a resale flat that is in close proximity to your parents/child (within 4km radius), you can get $10,000 of Proximity Housing Grant.
In summary, eligible first-timer singles can receive up to $95,000 of total housing grants, which is an increase of $15,000.
