SINGAPORE: About 11,000 families have bought resale Housing Board flats near their parents or married children with the help of the Proximity Housing Grant since it was introduced in August 2015.
About S$211 million in grants under this scheme has been disbursed, said the Housing and Development Board (HDB) on Sunday (Feb 11).
Another 1,000 families will receive the grant once their resale transactions are completed.
Altogether, the 12,000 households represent one-quarter of the 50,000 resale applications registered between Aug 24, 2015 and Dec 31, 2017, said HDB.
It added that most of the applicants – 93 per cent – are children who want to live closer to or with their parents, while the remaining 7 per cent are parents.
About 52 per cent of applicants bought flats in non-mature estates, said HDB.
The Proximity Housing Grant was introduced to help Singaporeans buy a resale flat with or near their parents or children “for mutual care and support”.
The grant is S$20,000 for Singaporean parents or married children – regardless of their household income, whether they own private property or have received housing subsidies previously. However, those with private homes will need to sell that property within six months of buying the HDB resale flat.
For eligible singles, the grant is S$10,000 if they buy a resale flat to live with their parents. HDB said 7 per cent of those who tapped on the grant are singles.