If you’re a soon-to-be homeowner looking to buy an HDB flat, there is a number of housing grants you might be eligible for. The available grants fall under the Enhanced CPF Housing Grant (EHG), the Family Grant, the Proximity Housing Grant (PHG), the Family Grant specific to Executive Condominiums (EC), or the Singles Grant. BTO buyers can only apply for an EHG, while those buying a resale flat can combine an EHG, a Family Grant, and a PHG.
- Enhanced CPF Housing Grant
The EHG is for couples whose combined household income is maximum $9,000 monthly, and who have not bought a home beforehand. At least one person in the relationship has to have had a fixed job for 12 months leading up to the application. While BTO and resale flats are both eligible, resale flats have one condition: the remaining lease should add up to at least 95 years when combined with the youngest applicant’s age. This is to ensure that you can remain in the flat your entire life.The amount you receive falls between $5,000 and $80,000, and is inversely proportionate to your household income. As such, if your household income is exactly $9,000, you will receive the lowest grant amount ($5,000). If your household income is $1,500 or under, on the other hand, you are eligible for the full $80,000. If you are looking to purchase a flat by yourself, you must be at least 35 years old. In this case, your income ceiling and grant amount are both halved.
- Family Grant
The Family Grant is available for couples and/or families purchasing a home for the first time. Couples should have a maximum household income of $14,000, while larger families (if you are living with your parents or in-laws, for instance) are limited to $21,000.If everyone in the family is a Singaporean citizen and the flat is 2-4 rooms large, you will be granted $50,000. If you are buying a 5-room flat or larger, your grant will move down to $40,000. Families that include Permanent Residents also receive $40,000, but the missing $10,000 can be claimed at a later date if the PR acquires citizenship or has a child.
- Proximity Housing Grant
The PHG is a grant for couples who want to live closer to their parents, or parents who want to move closer to their adult children. This grant is fairly flexible, as it doesn’t come with an income ceiling and is not limited to first-time buyers. The grant can be applied to flats that are at least 2 rooms large and that have a minimum of 20 years left in their lease.If you opt to live together with your family, you will be granted $30,000. If you live within 4km of each other, the grant totals $20,000. Should you wish to apply for this grant as a single, your grant amount will simply be halved.
- Family Grant for HDB Executive Condominium
If you are looking to buy an EC, there is a specific Family Grant available. You and your partner must be first-time buyers and your household income cannot climb over $12,000. If one of the applicants is not a citizen, your income ceiling is $11,000.If you are both citizens, your grant amount will fall between $10,000 and $30,000. Couples that include a Permanent Resident are granted up to $20,000. However, similarly to the HDB Family Grant, the PR can claim the remaining $10,000 at a later date if they have a child or become a citizen.
- Singles Grant
The Singles Grant is a special HDB grant for either single Singaporean citizens or non-citizen families who are purchasing a home for the first time. The applicants must be at least 35 years old.If you are applying under the Single Singapore Citizen Scheme, your household income cannot exceed $7,000. Under other schemes, it’s raised to $14,000. The flat of your choice must have at least 20 remaining years in the lease.
The grant amount will add up to $25,000 if you are purchasing a 2-4 room resale flat. If you opt for a 5-room resale flat, on the other hand, you will be granted $20,000.
Combining grants
If you want to get the most out of HDB housing grants, you can combine three grants when buying a resale flat. The EHG can be combined with the Family Grant and the Proximity Grant if you fulfil all the requirements. You need the correct income (under $9,000), full citizenship for every applicant, couple or family status, and a first-time applicant position.
You can also combine a few grants as a single Singapore citizen. If you have the right income (under $4,500) and are purchasing property close to your parents, you can combine the Singles Grant, the EHG, and the PHG.
Head over to the HDB website for more information about HDB housing grants.
