20,100 HDB households benefitted from Proximity Housing Grant
This figure is almost double the 11,000 households that enjoyed the initiative from 2015 to 2017.
Around 20,100 households have benefited from the Proximity Housing Grant as of end-2018 since the scheme was introduced in 2015, reported Channel NewsAsia, citing data released by the Housing Board on Friday (8 Feb).
This figure is almost double the 11,000 households that enjoyed the initiative from 2015 to 2017. Overall, $377 million has been spent on the scheme, which provides generous grants to Singaporeans purchasing a home to live with or near their parents.
Moreover, the Proximity Housing Grant was increased in February 2018. Through this scheme, all Singaporean citizen families who purchase a resale HDB flat to reside with their parents or children will get $30,000, while those buying a similar property within 4km of their parents or children will get $20,000.
Qualified singles with the aforementioned circumstances will get $15,000 and $10,000 respectively.
Regardless of household income and whether they have received housing subsidies before, all Singaporeans qualify for the grant once. However, those who own private homes are required to sell the property within six months of the resale flat purchase.
As of 31 December, around 20,400 households have applied for the scheme, including 300 families that will get their grants upon completion of their resale flat purchase.
But 53 percent of the 20,400 households are ineligible for other housing grants. In particular, 17 percent of the total consists of singles, while 83 percent comprise families.
Can you afford an HDB flat? Check your affordability now.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email firstname.lastname@example.org