Housing grants totalling $999 million were disbursed from April 2023 to March 2024.
Of the $6.225 billion deficit incurred in the home ownership segment, $3.738 billion stems from the expected losses for flats being built.
Between April 2023 and March 2024, HDB started construction on about 22,700 BTO flats, a 50 per cent increase from the 15,100 units in the previous financial year, he added. HDB incurs a deficit because the amount it collects from buyers from the sale of flats is less than the total development costs of BTO flats and the housing grants disbursed.
HDB noted that the CPF Housing Grant for eligible first-time buyers of resale flats rose by up to $30,000 from February 2023.Singles to get priority for BTO flats from mid-2025 under new Family Care Scheme
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