In 2015, the government raised income ceilings so more Singaporeans can buy HDB flats. The elderly can now buy 2-room flats with shorter leases, to free up their cash for retirement needs.
The government will give more in grants, and to more people—more than two-thirds of Singaporeans are now eligible for housing grants, up from more than half before.
1. New Proximity Housing Grant (PHG)
– All Singapore citizen families who buy a resale flat with or near their parents or married child will receive $20,000
– Citizen singles who buy a resale flat with their parents will receive $10,000
a. With 99-year leases
b. With shorter leases of 15 to 45 years
5. New Fresh Start Housing Scheme (in the works)
MND and HDB are working on a new scheme to help public rental families with young children own a flat again, if they are committed to make the effort.