Shorter Waiting Time for Flats
Young couples buying their first home can look forward to some 3,000 flats with shorter waiting time. The first 1,100 flats will be launched in the second half of 2018 in Sembawang, Sengkang, and Yishun. The remainder will be launched in 2019.
More details will be announced later.
Deferred Assessment for First-Timer Young Couples
To help young couples buy their first homes earlier, HDB will allow first-timer couples who are full-time students or National Servicemen (NSF), or have recently completed their studies or National Service (NS), to apply for a flat first and defer the assessment of their income for housing grants and loan till just before the key collection for their new flat. It will reduce the time required for such couples to secure a new flat by at least a year.
The deferment of income assessment will apply from the May 2018 Sales Launch onwards. Flat applicants will need to fulfill the continuous employment condition and/ or credit assessment guidelines, at the point of assessment before the key collection for their new flat. More details will be announced closer to the date.
Enhancements to Proximity Housing Grant
Minister for Finance Heng Swee Keat announced enhancements to the Proximity Housing Grant (PHG) in the Budget Statement on 19 February 2018, to encourage stronger family support.
Singaporean citizen families and singles buying a resale flat to live with or near their parents or married children will now enjoy a higher-tier PHG. The proximity condition has been expanded and simplified from “within 2km or the same town” to “within 4km” to provide resale flat buyers with more options.
||Living with Parents/ Child
||Living near Parents/ Child
|Singles aged 35 and above