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Budget 2017: Govt to raise CPF housing grants

PropertyGuru
Updated
About 880,000 Singaporean households living in HDB flats will receive the next instalment of the GST Voucher – Utilities-Save (U-Save) rebate this month...

Young couples buying resale flats will enjoy higher subsidies of up to $50,000.

In his 2017 budget statement, Finance Minister Heng Swee Keat shared that CPF housing grants will be raised from $30,000 to $50,000 for first-time applicants looking to buy 4-room or smaller HDB flats on the resale market.

For 5-room or larger flats, the grants will be increased from $30,000 to $40,000.

This measure is expected to cost the government an additional $110 million per year. More details will be announced by the Ministry of National Development during the upcoming Committee of Supply debate.

 

Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email romesh@propertyguru.com.sg