Budget 2023: Up to S$30,000 more in housing grants for families buying resale flats for the first time Budget2023
SINGAPORE: Housing grants for first-timer families buying resale flats will increase by up to S$30,000, Deputy Prime Minister Lawrence Wong said on Tuesday .
First-timer singles will also get larger grant amounts, but at half that of families, said the Ministry of Finance . The CPF Housing grant for eligible singles will go up to S$40,000 for 4-room and smaller flats, and S$25,000 for larger flats.The increased grant takes effect from Tuesday afternoon for resale applications submitted from 3.30pm. The additional grant amount will be credited to their CPF account from April onwards.
The Proximity Housing Grant is for those buying a resale flat to live with or near their parents or their child.A family with a monthly household income of S$1,500 or less, and living with their parents or children, can get a PHG of S$30,000, a CPF Housing Grant of S$80,000 if buying a smaller resale flat and another S$80,000 in Enhanced CPF Housing Grants. This adds up to S$190,000.
"We will therefore focus on first-timer families with children, as well as young married couples aged 40 years old and below, who are buying their first home," he said.
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