Header picture source: Pexel
This article was not reviewed by the Monetary Authority of Singapore (MAS) or any other relevant authorities.
Buying a house in Singapore is certainly not an easy feat. Besides going through its lengthy (albeit necessary) application process, you would also need to ensure you and your partner are financially ready to purchase it!
As we all know, houses in Singapore are not cheap and we would certainly want to ensure we apply as many housing grants as possible so as to lighten our financial load!
As this would also require an extra bit of work in reading up and applying, this article is meant to give you an overview of the 5 main housing grants in Singapore that you could explore!
1. Enhanced CPF Housing Grant
Who is Eligible?
- First-timer applicants
Which Flat Type?
- Built-To-Order (BTO), Resale, and SBF (Sale of Balance) flats
Grant Amount?
- $5,000 to $80,000 depending on your average monthly household income.
Income Ceiling
- You and your partner’s gross monthly household income (for the past 12 working months) cannot exceed $9,000.
2. Step-Up CPF Housing Grant
Who is Eligible?
- Second-timer applicants
Which Flat Type?
- BTO flats that are 2-room Flexi or 3-room in non-mature estates
Grant Amount?
- $15,000
Income Ceiling
- You and your partner’s gross monthly household income (for the past 12 working months) cannot exceed $7,000.
3. Family Grant
Who is Eligible?
- First-timer applicants who are married or engaged
Which Flat Type?
- Resale flats
Grant Amount?
| Citizenship | Buying 2- to 4-room Resale Flat | Buying 5-room or Bigger Resale Flat |
| Singaporean-Singaporean Couple | $50,000 | $40,000 |
| Singaporean-Singapore Permanent Resident Couple | $40,000 | $30,000 |
Income Ceiling
- You and your partner’s gross monthly household income (for the past 12 working months) cannot exceed $14,000.
4. Proximity Housing Grant
Who is Eligible?
- Married or engaged couples who are buying Resale flats and want to live with or within 4km of their parents or child.
Which Flat Type?
- Resale flats (2-room and bigger)
Grant Amount?
| Living with parents/ child | Living within 4km of their parents or child | |
| Couple | $30,000 | $20,000 |
Income Ceiling
- No income ceiling.
5. Half-Housing Grant
Who is Eligible?
- First-timer applicant with a second-timer applicant partner (married or engaged)
Which Flat Type?
- Resale Flat (2-room and bigger)
Grant Amount?
| Buying 2- to 4-room Resale Flat | Buying 5-room or Bigger Resale Flat | |
| Couple | $25,000 | $20,000 |
Income Ceiling
- You and your partner’s gross monthly household income (for the past 12 working months) cannot exceed $14,000.
Summary…
As you can see, these grants are pretty great right? But… of course, never enough! You would most definitely need your savings as well. Hence, click here if you are interested in engaging a financial adviser to help you work out your finances so as to purchase your dream home!
