Find out if you're eligible for up to S$80,000 in CPF Housing Grant 💰
Increase in CPF Housing Grant for Resale Units
Additionally, families who are buying 2-room, 3-room or 4-room HDB resale flats as their first home can now receive up to S$80,000 in Central Provident Fund Housing Grant, up from the previous S$50,000. Eligible families who purchase 5-room or larger HDB units can also receive CPF Housing Grants of up to S$50,000, an increase of S$10,000 from the previous S$40,000.
The additional CPF Housing Grant amount will be credited into their CPF account from April this year. In addition to the proximity grant, eligible families can now receive up to S$190,000 in grants when buying a resale HDB unit as their first home.Separately, the minister also announced that the Buyer’s Stamp Duty regime — which applies to all purchases or receipt of gifts of immovable properties in Singapore — will be adjusted.
For residential properties, the portion of the value of the property in excess of S$1.5 million and up to S$3 million will be taxed at 5 per cent, while residential properties in excess of S$3 million will be taxed at 6 per cent; up from the current rate of 4 per cent. The changes are expected to affect 15 per cent of residential properties in Singapore.The Additional Conveyance Duties regime will also be adjusted accordingly.
All changes to the BSD regime will apply to all properties acquired from Wednesday . This is expected to generate an additional S$500 million in revenue per year for the government.
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