HDB Housing Grants Available for Different Types of Flats in Singapore (2024)
Singapore home buyers can now tap into several HDB housing grants ranging between S$5,000 to S$80,000 to defray the costs of home ownership.
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If you are a first-time homeowner in Singapore, leveraging HDB housing grants is the best way to keep the costs of home ownership affordable. Depending on your eligibility, the grant can save you anywhere between S$5,000 to S$80,000 when you purchase your first Built-To-Order (BTO) flat or resale HDB unit. This is quite a generous subsidy for owning a Singapore property which can significantly reduce your home loan and ease your monthly financial outlay.
New to HDB housing grants in Singapore? Read on to find out the different housing grants available, the eligibility criteria and what you need to look out for when applying for one.
Types of HDB Housing Grants Available in Singapore
Singapore HDB housing grants, also known as CPF housing grants, are offered to HDB flat buyers who meet specific criteria laid out by the housing authority. Approved grants are not issued in cash but credited into applicants’ CPF Ordinary Accounts after flat booking so that they can be used to offset the prices of flats or reduce the home loan required for purchasing the flat in Singapore.
Here’s a quick glance at the different types of grants available to couples/ families and singles:
|
Buyer’s Profile |
Grants Available |
Amount |
|
Couples and Families |
Enhanced CPF Housing Grant (EHG) |
S$40,000 to S$80,000 |
|
|
CPF Housing Grants for Resale Flats |
S$25,000 to S$80,000 |
|
|
Step-Up CPF Housing Grant |
S$15,000 |
|
|
Proximity Housing Grant (PHG) |
S$20,000 to S$30,000 |
|
Singles |
EHG |
S$25,000 to S$40,000 |
|
|
CPF Housing Grants for Resale Flats |
S$25,000 to S$40,000 |
|
|
PHG |
|
Step-Up CPF Housing Grant
If you have received a first-timer couple or family grant previously but would like to apply as a second-timer applicant, there is a chance that you may get approval for the Step-Up CPF Housing Grant of S$15,000 to buy a new or resale flat that is an upgrade from your existing or previous home. For example, if you currently own a 2-room flat purchased with an HDB housing grant but wish to improve your living condition to a 3-room flat. You may apply for Step-Up CPF Housing Grant to reduce the cost of home ownership in Singapore.
To qualify for this grant, your monthly household income for the past 12 months must not exceed S$7,000 and the remaining tenure of the flat must be enough to cover the youngest person in your household to the age of 95.
Proximity Housing Grant
The Proximity Housing Grant is an additional amount that you can apply for on top of all other grants and it is available to both couples/families and single applicants. The grant is fixed at S$30,000 if couples or families buy a resale flat to live with their parents and S$20,000 if they live within a 4km radius of their parents or children. The grants are reduced to S$15,000 and S$10,000 respectively for single applicants.
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