Singles aged 35 and above who choose to buy a resale Housing Board (HDB) flat to live near their parents will now be able to enjoy a grant of $10,000 through a government scheme aimed at encouraging married couples, singles and their parents to live closer together.
Previously, the Proximity Housing Grant (PHG) for eligible singles would only apply if they bought a resale flat to live with their parents.
This was announced by Finance Minister Heng Swee Keat in his Budget speech on Monday (Feb 19) while sharing other immediate enhancements to the PHG, which first rolled out in August 2015.
The PHG was introduced to help extended families live closer together for mutual care and support and has benefited close to 11,000 households as of Dec 31, 2017, or a total grant amount of about $211 million.
Through the PHG, Singaporean citizen families currently enjoy a grant of $20,000 when they buy a resale flat to live with or near their parents or married children.
Mr Heng announced that families who buy a resale flat to live with their parents or children will now enjoy a higher-tier PHG of $30,000.
The PHG of $20,000 remains unchanged for those who buy a resale flat to live near their parents or children.
Further enhancements were also announced for singles.
Mr Heng said that eligible singles who buy a resale flat to live with their parents will now receive a bigger PHG of $15,000, up from $10,000.
The proximity condition for determining what is considered as “near” has also been revised.
It was previously defined as within 2km or within the same town, but the HDB will revise this to just “within 4km”.
“The revision will give home buyers more options when they buy a resale flat to live near their parents or children, including in nearby towns,” said a joint statement from the HDB and Ministry of National Development.
The revised proximity condition also applies to the Married Children Priority Scheme and Senior Priority Scheme for new flats with effect from HDB’s May 2018 Build-To-Order (BTO) and Sale of Balance Flats (SBF) exercise.
The enhancements to the PHG will apply to eligible resale flat applications received on or after 3.30pm on Monday.