CPF housing grant is a government initiative in Singapore that aims to provide financial support to eligible individuals and families to help them afford their housing needs. Given the high cost of housing in Singapore, the CPF housing grant serves as an important assistance program for those looking to purchase a home or upgrade their current living situation.
What is CPF housing grant?
CPF housing grant is a financial aid provided by the Singaporean government to assist citizens and permanent residents in purchasing or upgrading their housing.
The CPF housing grant is available for various housing types, such as new flats from Housing and Development Board (HDB), resale flats, and executive condominiums (ECs). There are different types of CPF housing grants catering to specific eligibility criteria and target groups.
It’s important to note that the CPF housing grant is provided in addition to the individual’s existing CPF savings. It is designed to help individuals use their CPF savings more effectively and reduce the financial burden associated with buying a home.
Who is eligible for CPF housing grant?
Eligibility for CPF housing grant depends on factors such as income, citizenship status, age, family nucleus, and whether it’s the first time applying for the grant. The criteria for each housing grant varies, and it is important to check the specific eligibility requirements for each type.
What are the types of CPF housing grants available?
There are several types of CPF housing grants available, including the Family Grant, Enhanced CPF Housing Grant, Additional CPF Housing Grant, Proximity Housing Grant, and Singles Grant (only eligible for singles buying resale flats or ECs).
What is the Family Grant?
The Family Grant is a grant provided to families or couples to help defray the cost of purchasing a flat. The grant amount depends on factors such as flat type, average gross monthly household income, and citizenship status.
What is the Enhanced CPF Housing Grant?
The Enhanced CPF Housing Grant is available for first-time buyers of four-room or smaller resale flats. It provides additional financial support to help these individuals and families afford their homes.
What is the Additional CPF Housing Grant?
The Additional CPF Housing Grant is designed to help lower- to middle-income individuals and families afford the purchase of an HDB flat. The grant amount is determined by average gross monthly household income, flat type, and the remaining lease of the flat.
What is the Proximity Housing Grant?
The Proximity Housing Grant encourages families to live closer to their parents or married children by providing a grant for the purchase of an HDB resale flat near their parents’ or children’s homes.
Who is eligible for the Proximity Housing Grant?
The Proximity Housing Grant is eligible to first-time buyers who are buying a resale flat within 4 kilometers of their parents’ or married child’s home.
What is the Singles Grant?
The Singles Grant is a housing grant specifically for singles, allowing them to purchase resale flats or ECs. The grant amount depends on the individual’s income, flat type, and the remaining lease of the flat.
Who is eligible for the Singles Grant?
Singles who are at least 35 years old and earning up to a certain income cap are eligible for the Singles Grant.
Can I receive multiple CPF housing grants?
Yes, it is possible to receive multiple CPF housing grants if you meet the eligibility criteria for each grant. Each grant serves a different purpose and has specific requirements.
Is there a limit on how many times I can receive CPF housing grants?
There is no limit on the number of times you can receive CPF housing grants. However, each grant has its own eligibility criteria, so you must meet the requirements for each grant you apply for.
What if I sell my subsidized flat after receiving CPF housing grants?
If you sell your subsidized flat, you may be required to return a portion of the subsidy received. The grant received will be pro-rated based on the duration of ownership, and the amount to be returned may depend on the prevailing rules and regulations at the time of sale.