
HDB Resale Grants
Different Types of HDB Resale Grants
For HDB Resale Buyers
I will be explaining the different types of HDB Resale Grants and to determine how much will you be getting.
First of all buying a HDB Resale Flat comes with its advantages one of it being the generous HDB Resale Grants you may qualify for
With the three main grants: Family Grant, Enhanced Housing Grant, Proximity Housing Grant
available for the resale flat you may be eligible to receive up to a total of $160,000
So a brief summary, in the year 2019, HDB raised the income ceiling for the CPF family grant from $12,000 to $14,000 and launched a new Enhanced Housing Grant which enabled more resale buyers to qualify for Housing Grants and with a maximum grant amount of up to $160,000.
These changes could mean that HDB Resale Flat may turn out to be cheaper than a BTO flat, even though BTO flats are sold by HDB at a discount after all the Family Grant and Proximity Housing Grants are not applicable for BTO flat.
Plus, the advantage of buying a resale flat is an unlimited choice of locations and the fact that resale flats are already completed and ready for moving in.
Resale flats also typically have well-developed amenities such as schools and eateries surrounding them.
For first-timer applicants to be considered a first-timer applicant
you must not be the owner of a HDB flat nor have sold a HDB flat not have received any CPF Housing Grant or subsidies be it an EC (Executive Condominium), DBSS (Design, Build and Sell Scheme) or HDB Resale Flat, have not transferred ownership of a flat bought directly from HDB or any HDB resale flat bought under the CPF Housing Grand Scheme
For Couples/Families, Family Grant
How much?
$50,000 if buying a 2-4 Room HDB Resale Flat
$40,000 if buying a 5 Room or larger HDB Resale Flat
Income ceiling to qualify for the Family Grant the buyer’s household income must not exceed $14,000. The exception is when applying to live with extended families for this the income ceiling is $21,000.
The higher grant amount is to encourage older couples or working adults to live with their extended families including siblings and parents.
Take note the income ceiling for this and other grants is calculated by taking the monthly average of your total household income for the past 12 months.
So who can qualify for the Family Grant?
Married engaged couple of families who are first-timer applicants buying a HDB Resale Flat and do not exceed the income ceiling if one party is a Singaporean PR, They’ll receive $10,000 less,
e.g.
$40,000. for 2-4 Room HDB Resale Flat
$30,000 if buying a 5 Room or larger HDB Resale Flat
Enhanced CPF Housing Grant
How much? – A maximum of $80,000
Income ceiling to qualify for the Enhanced Housing Grant the buyer’s household income must
not exceed $9,000.
This is also a tiered grant, meaning that the lower your income the higher the grant amount you may be eligible for.
You can qualify for the Enhanced Housing Grant if you meet all the following criteria:
You are already receiving the Family Grant but wish to receive additional grants and do not exceed the Enhanced Housing Grant income ceiling.
At least one of the applicants must have worked continuously for the past 12 months prior to the flat application and still be working at the point of the flat application.
Proximity Housing Grant
How much?
$20,000 if living near your parents or children home within 4 km
$30,000 if living with their parents or children in the same resale flat
Income ceiling
Good news the Proximity Housing ground has no income ceiling restrictions
Case Study
Let’s say you and your spouse are first-time applicants and would like to buy a 5-room HDB Resale Flat near a parent’s home with one child and a baby on the way, living near your parents would give you a peace of mind.
You’ll receive $20,000 in Proximity Housing Grant as you are living within 4km of your parents but not with them. You are earning $5,000 per month and your spouse is earning $3,500 per month
the average gross monthly household, income is $8,500.
This means you have met the income ceiling and are therefore eligible for the Family Grant
as you are purchasing a 5-room flat, you’ll receive $40,000 in Family Grant, you’ll also met the income ceiling and eligible for the Enhanced Housing Grant according to the $8,500 household income, you’ll receive $10,000 in Enhanced Housing Grant.
In this scenario, you are eligible for a total of $70,000 in HDB Resale Grant. Not bad after all.
Now for Singles
First of all you need to be age 35 and above to buy a HDB flat as a single.
Single Grant
How much?
$25,000 if buying a 2-4 Room HDB Resale Flat
$20,000 is buying a 5 room or larger HDB Resale Flat
Singles applying under the single Singaporean citizen scheme will not qualify for the Singles Grant if the flat size exceed a 5-room flat, e.g. an executive flat.
To qualify for the Singles Grant your average household income for the past 12 months must not exceed $7,000 if buying under the single Singaporean citizen scheme, or $14,000 if buying under other schemes such as Joint Singles Scheme.
Enhance CPF Housing Grant for Singles
How much?
A maximum of $40,000
Income ceiling to qualify for the Enhanced Housing Grant for Singles, the buyer’s household income must not exceed $4,500. This is also a tied grant, the lower your income the higher the grant amount you may be eligible for.
You can qualify for the Enhanced Housing Grant for Singles if you meet all the following criteria
You are already receiving the Single Grant by wish to receive additional grant and do not exceed the Enhanced Housing Grant for Singles income ceiling, you must have worked continuously for the past 12 months prior to the flat application and still be working at the point of the flat application
Proximity Housing Grant for Singles
How much?
$10,000 if living in your parents of children within 4km
$15,000 if living with their parents or children in the same resale flat
Income ceiling
Good news the Proximity Housing Grant has no income ceiling restrictions
For newly married singles, previously received a grant as a single but got married HDB lets you top up your grant!
Top Up Grant
How much?
The amount of the Family Grant amount you are eligible for currently minus the Single Grant amount you had previously received
Income ceiling
The combined income of the household must not be more than $14,000 a month based on the average income for the past 12 months.