Govt spent $211m to help families live closer together

Singapore Property

The Channel NewsAsia reported a $211 million of Proximity Housing Grants granted by the Housing and Development Board or HDB last Sunday, February 11 since the program implementation,  way back 2015 of August.

As per record, the Proximity Housing Grant doled out more or less 11,000 households purchase resale HDB flats which are just near to their married children or parents. Another set of households, around 1,000 are destined to receive the grant the moment the purchase property are concluded.

This simply implies that of the 50,000 applications for resale, from the month of August 2015 until December 2017, 12,000  or 25 percent households enjoyed the grant.

Specifically, seven percent of  the applicants for grants are among the parents who wish to live just in close distance to their children or even to really live with them while 93 %  has settlement with mature daughters and sons, noted HDB declared  that there are about 52 percent among them bought properties over non -mature estates.

The objective stand by Proximity Housing Grant is to extend help to  the locals of Singapore acquire a resale Housing Development Board units, either with parents or children  or in proximity  for  “support and mutual care.”

The married children or parents are the ones benefitting the $20,000 grant for this program without taking account of its annual income, any  housing subsidy or whether they own a private unit and if in case they own one, they need to dispose it after 6 months  of purchasing a resale unit from the Housing Board of developments.

Meanwhile, singles can also avail the $10,000 grant and the record showed that seven percent of the grant was taken by them.

Ng Yang Ting, an IT analyst, 34 together with his better half Goh Ya Zhen, rendered an application for a resale flat around areas of Bukit Panjang last September.

They applied on flats with four rooms around the estate where it used to be the abode of Ng for over 30 years just to be closer to immediate family and his second reason is due to the flop application he made to the BTO or Build -To -Order.

The couple shared that they are able to save more or less $ 70,000, which has a breakdown of $50,000 provided by the CPF Housing Grant, $20,000 received from the Proximity Grant. Indeed, a big help from their financial issues, Ng confessed. But one of the greatest advantages it gave is that the property is just a few steps away from mother’s home and the rest of the siblings’ homes.

The Housing Board of Development is proud to announce for its incoming 17,000 new units in 2018.