Tuesday, September 22, 2015

Knowing The Grants Available For Resale Flats [With new Proximity Housing Grant]

Most couples would apply for a BTO flat as a first step to setting up their own family. However, some of us would be buying resale flats as we want a better location or we want to stay near our parents for convenience sake. Resale flats are also much faster for you to move in as you do not have to wait at least 3 years for your house to be built finish as with the case of buying a BTO flat.

Credit: https://www.flickr.com/photos/86530412@N02/8224546207

Resale flats are flats bought from the open market which is not subsidized by the government as like the BTO flats. However, there are still grants available to help out with the high housing cost. Let's take a look at the various grants available:

Family Grant

The grant available for this scheme is $30,000. To be eligible, your household income must not exceed $12,000 (revised from $10,000 before 24 August 2015). You must be a Singaporean and form a family nucleus with another Singaporean or PR. This grant is only available for first time home buyers.

Additional CPF housing Grants

Families who earn up to $5000 will be eligible for additional housing grants under this scheme. The maximum grant available is $40,000 for those with less than $1500 monthly household income and minimum $5000 for household earning $4,501 - $5,000.

Proximity Housing Grant (New from 24 August 2015 onwards)

Under this scheme, you can receive $20,000 in grant.

The eligibility criteria is:

Your parents/ married child are:
  • living with you in the resale flat
  • living in an HDB flat in the same town or within 2km
  • owner-occupants of private property in the same town or within 2km
If you fulfil all the above 3 criteria, you can get as much as $55,000-$90,000 in grants to buy your resale flat. If you're planning to buy a BTO flat, you can refer to my previous post here to know the enhanced grants available for BTO flats.

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Related Posts:
1. Should Couples Buy A 5 Room HDB Flat For Their First BTO Application?
2. How much money does a couple need to earn in order to afford a $300,000 HDB flat?


  1. Hi SGYI,

    Could you perhaps do a psot on the analysis for individuals intending to buy hdb (e.g. 3 room) under the single scheme (like grants available, loans, monthly installments, etc)?

    Really appreciate your writings on the cost analysis of getting a flat in SG, keep them coming!

    1. HI Gideon,

      I've indeed written a post on buyng a HDB flat as a single. Here is it: http://sgyounginvestment.blogspot.sg/2015/07/how-to-buy-hdb-flat-for-singles-your.html

  2. Hi,

    For the resale grant, how does the grant disbursement work ?

    is it through offset against initial downpayment of flat or through monthly reduction of mortgage payment over the loan period ?

    1. Hi gergeg ge,

      From what I know, the grants will be in lump sum into your CPF account which you can pay for your housing loans thereafter.

  3. Hi
    I would like to ask for resale grant. Is it in time for me to use it for the first 10% downpayment for the resale flat?
    Do we apply resale grant on the first appointment or way before?

    1. Hi JY,

      From what I know the grant is credited into our CPF account for the initial payments however I'm not sure if it will be in time for the downpayment. Do check with HDB for the crediting of the grant. Thanks!