HOUSING & DEVELOPMENT BOARD

Dear KEO,

Increased CPF Housing Grant for resale flat buyers

On 14 Feb 2023, Deputy Prime Minister and Minister for Finance, Mr Lawrence Wong, announced in the Budget Statement that the Government will increase the CPF Housing Grant for eligible first-timer buyers of resale flats by up to $30,000, from the current maximum grant amount of $50,000 to $80,000. This measure aims to further improve the affordability of resale flats by providing even more support for the first-timers.

Under the revised CPF Housing Grant:

Eligible first-timer families buying a resale flat can receive up to $190,000 in housing grants, comprising:
1. The increased CPF Housing Grant of up to $80,000;
2. The Enhanced CPF Housing Grant of up to $80,000; and
3. The Proximity Housing Grant of up to $30,000.
Eligible first-timer singles buying a resale flat can receive up to $95,000 in housing grants, comprising:
1. The increased CPF Housing Grant of up to $40,000;
2. The Enhanced CPF Housing Grant of up to $40,000; and
3. The Proximity Housing Grant of up to $15,000.

For eligible buyers who submit their resale applications on or after 1 Apr 2023, HDB will disburse the increased grant quantum before resale completion, as per current practice. For eligible buyers who have yet to complete their resale transaction by 3.30pm on 14 Feb 2023, or submit their resale applications on and from 3.30pm on 14 Feb 2023 to 31 Mar 2023, HDB will disburse the additional grant quantum (i.e. the difference between the increased grant and the current grant) within three months from the date of their resale completion.They do not need to approach HDB and will not face any disruption to their resale completion.

For more details, you may refer to the press release. Please disseminate the information to your salespersons. Thank you.

Yours sincerely

Daniel Chan Kian Sen
Director (Resale)
Estate Administration & Property Group