The grant currently gives up to $80,000 for families and $40,000 for singles buying their first new or resale flat.
SINGAPORE - Lower-income couples buying their first Housing Board flat will soon get more help in the form of increased housing grants.
In his speech, PM Wong addressed concerns about housing affordability, noting that high resale flat prices have caught public attention. The Government has moved to stabilise the market, implementing cooling measures and ramping up supply, he said. BTO units closer to amenities such as MRT stations and town centres will fall under the Prime and Plus categories. These flats will come with stricter resale conditions, such as a 10-year minimum occupation period and a subsidy clawback.
The ratio of the median price of four-room HDB resale flats after grants, to the median annual household income, is currently 4.8 - the same as it was in 2014.From 2014, the ratio had dropped below 4 before spiking up to 5 when the pandemic hit.
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