Hdb, Bto, Property, Flats, Lawrence Wong

Hdb, Bto

Higher income ceilings, enhanced housing grant for HDB flat buyers

JUST IN: HDB to raise household income cap for BTO flat buyers to S$14,000 for families, S$7,000 for singles

10.9.2019

JUST IN: HDB to raise household income cap for BTO flat buyers to S$14,000 for families, S$7,000 for singles

The income ceilings to qualify for the purchase of HDB flats will be raised from Wednesday (Sep 11) as part of measures “to help more Singaporeans ...

The new household income cap will be increased from S$12,000 to S$14,000 for families looking to buy a Build-To-Order (BTO) flat or a resale flat with a CPF housing grant. This increased cap will also apply to HDB housing loans.

Eligible first-timer singles aged 35 and above will also benefit from a higher income ceiling of S$7,000, up from S$6,000.

The measures were announced by National Development Minister Lawrence Wong at an event to recognise 27 HDB projects for their excellence in design, construction and engineering.

A new Enhanced CPF Housing Grant (EHG) was also announced.

It is tiered according to income levels, and offered to families and singles under the Joint Singles Scheme earning S$9,000 and below.

Families who buy flats with leases that do not cover them until the age of 95 will still receive grants, but this will be pro-rated, said HDB.

Singles aged 35 and above under the Single Singapore Citizen Scheme will also benefit from the enhanced grant, provided they are eligible first-timers and earn S$4,500 or less. The grants will be tiered by income level, with a maximum grant of S$40,000.

More second-timer families and seniors will also qualify for existing schemes and grants under HDB.

Eligible seniors with a monthly household income of S$14,000 or less will also be allowed to take part in the Lease Buyback Scheme, the Silver Housing Bonus, and to purchase a short lease 2-room Flexi flat, up from the previous income cap of S$12,000.

Read more: CNA

27 HDB projects win design, construction and engineering awardsThese awards aim to recognise the industry partners of HDB for their contributions in developing quality and well-designed homes. YahooFinance

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