SINGAPORE: The number of households that received a government grant for buying a home to live with or near their parents or children has nearly doubled, said the Housing and Development Board (HDB) on Friday (Feb 8).
Since the launch of the Proximity Housing Grant in 2015, about 20,100 households have benefited from the scheme as of end-2018. This compares to the 11,000 households that received the grant between 2015 and 2017.
The grant was increased in February 2018 to encourage more families to live near each other.
In total, S$377 million has been disbursed under the scheme. An additional 300 families will receive their grants once their resale transactions are completed.
Under the scheme, all Singaporean citizen families who buy a resale flat to live with their parents or children enjoy a grant of S$30,000. Those buying a resale flat to live near their parents or children receive S$20,000.
Eligible singles who buy a resale flat to live with their parents receive S$15,000, while singles who buy a resale flat near their parents receive S$10,000.
The proximity condition of “near” is defined as within 4km.
All Singaporeans are eligible for the Proximity Housing Grant once, regardless of their household income, ownership of private property or whether they have enjoyed housing subsidies before.
Those who own private properties will have to dispose of them within six months of the resale flat purchase.
As of Dec 31, 2018, about 20,400 households have applied for the grant. Of these, 53 per cent did not qualify for other housing grants, HDB said.
Families made up 83 per cent of the applications, while the remainder were singles.