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The Singapore Government Takes Care Of Its’ Citizens Housing Needs

World Affairs

Open Eyes Opinion {source: SGgov}

Singapore – Affordable Homes, Closer Families, Stronger Ties

The Ministry of National Development (MND) and the Housing & Development Board (HDB) introduced three new measures to help more extended families live closer together for mutual care and support, and to make public housing more affordable for more Singaporeans, from lower- to upper-income households.

 MND and HDB also announced that they are studying a new Fresh Start Housing Scheme to help families with young children staying in public rental flats, who had previously owned a subsidized flat, achieve home ownership again.

MND and HDB introduced a new Proximity Housing Grant (PHG) to further help Singaporeans buy a resale flat, with or near their parents or married child, for mutual care and support. With effect from 24 August 2015, all Singapore citizen families who buy a resale flat to live with or near their parents or married child will receive PHG of $20,000. Eligible singles will also enjoy PHG of $10,000 if they buy a resale flat with their parents.

All Singaporeans are eligible for PHG once, regardless of a) whether they had enjoyed housing subsidies before, including the Higher-Tier CPF Housing Grant, b) their household income or c) ownership of private property. The grant recipients and their parents or married child must live with or in close proximity to each other for at least 5 years.

Currently, eligible first-timer families who buy a resale flat to live with or near their parents or married child receive the Higher-Tier CPF Housing Grant of $40,000 ($10,000 more than the basic $30,000 CPF Housing Grant for family). Eligible singles get $20,000 if they buy a resale flat to live with their parents ($5,000 more than the basic $15,000 CPF Housing Grant for singles).

Background Notes:

The PHG is the result of a series of Housing Conversations on “Closer Families; Stronger Ties” MND organised in 2014 with Singaporeans at different life stages.

It will benefit a wide spectrum of Singaporeans looking to live with or near their parents or married child.

These include a) young courting couples who wish to live with or near their parents; b) married couples who bought their first flat far from their parents but now wish to move back closer, especially after they have children and/or their parents are not well; and c) parents who wish to monetize to a resale flat with or near their married child, including those who have enjoyed housing subsidies before and/or are private property owners

 Please read full report:

http://www.news.gov.sg/public/sgpc/en/media_releases/agencies/hdb/press_release/P-20150824-1/AttachmentPar/0/file/Press%20Release%20for%20NDR%202015.pdf

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[photo credits: “Housing and Development Board flats near Woodlands Avenue 7, Singapore” by Slivester (Slivester Nuenenorl). – Own work.. Licensed under CC BY-SA 3.0 via Wikimedia Commons – https://commons.wikimedia.org/wiki/File:Housing_and_Development_Board_flats_near_Woodlands_Avenue_7,_Singapore.jpg#/media/File:Housing_and_Development_Board_flats_near_Woodlands_Avenue_7,_Singapore.jpg]

 

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