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Singapore

4,500 public rental households went on to home ownership in last five years: HDB

SINGAPORE: About 4,500 households living in public rental flats bought their own homes over the past five years, with the help of various Housing Board (HDB) schemes and grants.

This figure - from 2017 to 2021 - represents close to 9 per cent of the total rental households in Singapore, HDB said on Sunday (Mar 6).

Of these, three in four bought a flat from HDB while the rest got it from the resale market. 

About two-thirds bought a flat with the help of housing grants such as the Additional CPF Housing Grant and Special CPF Housing Grant, which are up to S$40,000 each, as well as the Enhanced CPF Housing Grant of up to S$80,000.

Most of the households bought either a 3-room or 4-room flat.

HDB also gave an update on the work of its Home Ownership Support Team (HST), which provides support for rental tenants to buy their own homes.

Its role includes helping those who are ready to buy a flat navigate the processes involved - from application to key collection, and helping families assess their ability to afford one.

When it was set up in 2019, it set a target of reaching out to 1,000 households, who were "preliminarily assessed to be ready to buy a flat", by 2023.

"As of Dec 31, 2021, the HST has engaged about 1,030 rental households, surpassing the target of 1,000 rental households and achieving it two years earlier than planned," said HDB.  

"Of these more than 1,000 rental households, 340 should be ready for home ownership within the next three years", added HDB. 

The remaining households are in the process of assessment or are not ready to apply for a flat in the near term.

HST will continue to track their progress and help them to move on to home ownership, where feasible, HDB said.

Source: CNA/gl(rw)

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