Wednesday, August 01, 2012

HDB enhances grants for low-income households

First-time flat buyers with a monthly income of S$1,500 and below will now have a better chance to own units, following the HDB’s (Housing and Development Board) decision to extend the Special CPF Housing Grant (SHG) to include three-room standard flats in non-mature estates.
In the past, such buyers were only allowed to acquire a two-room standard flat in non-mature estates.


The exemption of three-room flats was “to encourage financial prudence, and ensure that these low-income households do not overstretch themselves”, said the housing board.

However, HDB decided to extend the SHG, which offers S$20,000 for households earning S$1,500 or less, in a bid to help low-income families acquire a flat within their means.

“The enhancement will expand the housing options available to low-income households who need more space, and can afford a larger flat, with the help of government subsidies,” HDB noted.

The new housing grant came into effect after July’s BTO launch.

View the original article here

Article You Might Like

No comments:

Post a Comment