Proximity Housing Grant proving popular
SINGAPORE — The response to the new Proximity Housing Grant (PHG) has been “most encouraging”, with more than one in five home buyers applying for the grant since it took effect on Aug 24, National Development Minister Lawrence Wong said in a blog post today (Oct 30).
The PHG, along with raised income ceilings and an increased Special CPF Housing Grant (SHG), were some of the measures announced by Prime Minister Lee Hsien Loong during the National Day Rally in August. The PHG is S$20,000 for families and S$10,000 for singles.
After receiving the grant, recipients will need to live in the flats for at least five years as well as the families they live near or with.
The grant is available to Singaporean families once, regardless of their household income, any previous subsidies enjoyed or private property ownership.
Mr Wong said that out of the 3,506 Housing and Development Board resale flat transactions, more than one in five home buyers applied for the PHG.
Of this, nearly half the families and about nine in 10 of the singles were those who were previously ineligible for such grants.
Referring to the PHG, which replaced a previous scheme, Mr Wong said: “We did this because we recognise that the desire to live closer to parents and children is shared by a wide spectrum of Singaporean households, and not just first-timer couples.”
Mr Wong also shared that about one in 10 first-timer families and singles are now eligible for the CPF Housing Grant because of the higher income ceilings of S$12,000 and S$6,000 respectively. And almost one in three new Executive Condominium buyers are benefitting from the new S$14,000 income ceiling.
