Singapore Markets close in 7 hrs 45 mins

SINGAPORE BUDGET 2018: Government revises Proximity Housing Grant (PHG) criteria to within 4km

angela.teo@bizedge.com

SINGAPORE (Feb 19): Families are encouraged to live near each other in the latest Budget 2018.

Minister Heng Swee Keat said families buying a resale flat with their parents or children will receive an enhanced Proximity Housing Grant (PHG) of up to $30,000.

Meanwhile, those who will be buying a resale flat to live near their parents or children will continue to receive a PHG of $20,000.

 

HDB flats at Woodlands Drive

(Credit: Albert Chua/The Edge Singapore)

 

Singles who purchase a resale flat to live with their parents will receive an enhanced PHG of $15,000, while singles who buy a resale flat to live near their parents will receive a PHG of $10,000.

In order to give applicants a wider choice of flats to live near their families, the government will be revising the criteria for the PHG to “within 4km”, compared to the current definition of living in the same town of within 2km.

 

This story, written for The Edge Singapore, first appeared on Feb 19.

Related Articles From EdgeProp.sg
Singapore Budget 2018: Will higher home-buying taxes stop buyers in their tracks?
SINGAPORE BUDGET 2018: Tax transparency treatment for S-REITs extended to REIT ETFs
Singapore Home Tax Hike Not a Market Cooling Move, Minister Says
SINGAPORE BUDGET 2018: Singapore to inject initial $5 bil into new rail infrastructure fund