HDB flats more affordable for buyer

Finance Minister Heng Swee Keat announced, with immediate effect, in the Budget statement today the CPF housing grant continues to be elevated to $50,000 for first-timer couples buying four-room or smaller sized HDB flats in the resale market. For individuals who purchase five-room or bigger flats, the grant continues to be elevated to $40,000.

The CPF housing grant was formerly limited to $30,000. First-timer couples are now able to receive as much as $110,000 in subsidies, including the extra CPF Housing Grant and Closeness Housing Grant.

ERA Key Executive Officer Eugene Lim expects resale HDB transaction volume “to get a good boost as resale flats are actually cheaper, which might swing more purchasers perfectly into a resale flat rather of getting to hold back 3 years approximately for any BTO flat.”

Lim also believes the announcement “will assistance to nudge prices upwards designed for resale HDB flats with excellent attributes, in places where sellers are couple of.”