Good News Galore for First-time Flat Buyers!

By : Nur Raihana
09 March 2017

Building your first home together can be as dramatic as a K-movie, but definitely more romantic as it is for real, not for reel.

So first-time flat buyers, this is for you – a slate of goodies to help you set up your very first home!


More Help for Resale Flat Buyers

HDB recently announced an enhanced CPF housing grant of up to $50,000 for families who buy a resale flat as their first home. After factoring in the Additional CPF Housing Grant (AHG) and Proximity Housing Grant (PHG), they can receive as much as $110,000. 


First-timer singles who buy a resale flat can look forward to up to $55,000 in grants. As always, the grant amount received will depend on household income and flat type purchased.

More Help for Resale Flat Buyers

If you prefer a BTO flat and hope to move into your new home quickly, look out for some projects which HDB will be launching in 2018, where construction time is cut to 2 to 3 years as these will be built ahead of time. 


To give priority to first-time home buyers, at least 95% of 4-room or larger flats will be set aside for first-timer families. This is a 10%-point increase from the quota in non-mature estates today. 


Quotas for smaller flats will remain unchanged: 70% and 20% for 3-room and 2-room flats respectively, to meet the housing needs of second-timers, singles, and the elderly who right-size. 


Lower PPHS Rents

Under the Parenthood Provisional Housing Scheme (PPHS), couples waiting for their BTO flat can rent from HDB, so they can start building a life together. So far, 2,000 households have lived in PPHS flats and welcomed 400 PPHS babies.


PPHS flats are already rented out below market rates to help young families. Rents will be further lowered by up to $400 a month, or 36%, depending on location.

With more help for resale flat buyers, BTO projects with shorter waiting time and increased first-timer quota, as well as lower PPHS rents, couples now have more affordable options than before when it comes to building their first home sweet home. 


More housing choices? Yes!

Tags: First-timer, BTO,




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