From 2020 to 2023, the Housing and Development Board (HDB) of Singapore disbursed a substantial sum exceeding $4.5 billion in housing grants, benefiting a significant number of Singaporean families in their pursuit of homeownership. This financial assistance, aimed at both new and resale flat purchasers, underscores the government’s commitment to making housing more accessible and affordable for its citizens.
During this period, approximately 63,700 households were recipients of the Enhanced Central Provident Fund (CPF) Housing Grant. This grant, which can amount to as much as $80,000, is extended to families purchasing their first home, be it a new HDB flat or one from the resale market. This initiative is part of a broader effort to support Singaporeans in acquiring their own homes, a cornerstone of the nation’s housing policy.
In addition to the Enhanced CPF Housing Grant, the CPF Housing Grant has also seen considerable uptake, with 41,600 households benefiting from it. Specifically tailored for first-time buyers of resale flats, this grant offers up to $80,000 for those opting for two- to four-room flats and $50,000 for purchasers of larger units. This grant saw an increase in 2023, a move aimed at counteracting the rising prices in the resale market and ensuring affordability for prospective homeowners.
Another key component of HDB’s grant scheme is the Proximity Housing Grant, which saw around 44,700 households receiving up to $30,000. This grant encourages families to purchase resale flats in close proximity to their parents or children, fostering family bonds and support networks within communities.
These grants, some of which were either introduced or enhanced in recent years, reflect the Singapore government’s proactive approach to housing policy. By adjusting the grant amounts and eligibility criteria over time, HDB ensures that its initiatives remain responsive to the evolving needs of Singaporeans, helping them to secure their dream homes in one of the world’s most prosperous and dynamic cities.
