In Singapore, most people live in so-called HDB flats as opposed to private apartments. There’s a robust pipeline of the latter, with the government in June announcing it would reduce the supply of private housing in the second half.
The new measures, which don’t apply to the private market, will come into effect Sept. 11.
They include:
• The introduction of a new enhanced housing grant (EHG) that will be made available to eligible buyers regardless of whether they purchase a new or resale flat
• Eligible first-timer families will get an EHG of up to $80,000 when they buy an apartment that can cover them and their spouses to the age of 95, subject to conditions
• Eligible first-timer singles aged 35 and above and earning not more than $4,500 a month can also get an EHG of up to $40,000, subject to conditions
• The monthly household income ceiling will be increased to $14,000 from $12,000 for eligible families to buy an HDB flat or a resale flat on the open market
Read also:
