3,000 rental tenants bought their first home in last 5 years: HDB

3,000 rental tenants bought their first home in last 5 years: HDB

HDB flats
File photo of HDB flats. (Photo: Hester Tan)

SINGAPORE: Around 3,000 rental flat tenants have been able to buy their first home in the Build-to-Order (BTO) or Sales of Balance Flats (SBF) exercises from 2013 to 2017 with the help of HDB’s various housing grants, HDB said on Saturday (Feb 17)

It added that, on average, about 500 to 600 of such rental tenants progress to own their homes each year.

Out of the 3,000 households who bought a BTO or SBF flat for the first time, a majority bought either a 2-room Flexi or 3-room flat. About 50 per cent chose to buy a 3-room flat, while about 30 per cent bought a 2-room Flexi flat, said HDB.

(A 2-room Flexi flat comes with shorter leases and is for elderly Singaporeans.)

About 80 per cent bought a flat with the help of the Additional CPF Housing Grant (S$40,000) and/ or the Special Housing Grant (S$40,000). Among them, 109 received the maximum housing grants of S$80,000.

According to HDB, around 20 percent booked a flat under the Tenants’ Priority Scheme. 

Under this scheme, 10 per cent of the two-room Flexi and three-room flat supply in the BTO or SBF sales exercises is set aside for public rental tenant families who are buying their first home. 

More than 900 households have collected the keys to their new flats, HDB said.   

Source: CNA/rw