Budget 2023 and you: What the measures mean for a young couple

SINGAPORE — Ms Nur Raihan Muhd Razali has been hunting for a home with her husband since they got married two years ago.

Attempts to apply for a Build-to-Order flat in areas near their parents' homes in eastern Singapore have been unsuccessful as their queue number to select for a flat was too high, meaning that there were more applicants than flats.

For example, one seller of a three-room flat around the Kallang area wanted S$20,000 in cash, over the flat's valuation.She was therefore happy to hear about Tuesday'sby Deputy Prime Minister and Finance Minister Lawrence Wong on the additional support for families with children as well as married couples aged 40 and below looking to secure their first home.

She will also continue to look for a resale flat, although she said she is unsure of how helpful the increased grant would be given the hot property market. She said that her husband had to take one-month unpaid leave to assist her during her month-long confinement period after she gave birth in October last year.“It was really tight for us financially, to be honest, as my partner didn’t earn any income during that point in time,” said Ms Nur Raihan.

The Government will also increase the cap in which they match the savings of parents’ under the CDA. This will apply to a family's first and second child.

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