The Proximity Housing Grant aims to help Singaporeans buy resale flats near or with families. Out of the amount, $82.6 million was offered to 4,315 families, while the rest will be disbursed after the conclusion of resale transactions. The scheme was introduced to help Singaporeans purchase a resale flat with or near children or their parents for common attention and support.
The Amount Involved
Eligible families appreciate a $20,000 grant to offset costs, while eligible singles will receive a $10,000 grant if they purchase a resale level with their parents.It complements other measures to help Singaporeans purchase a new HDB flat with or near their parents or married child, such as the Married Child Priority Scheme, Multi- Senior Priority Scheme, Generation Priority Scheme and the three-generation flats,” said the HDB.
The absolute variety of applicants account for around a quarter of resale applications received from 24 August 2015 to 31 August 2016. While the rest are singles, families make up 93 percent of all applicants.While the other five percent are parents, around 95 percent of the applicants purchased resale flats to reside closer to or with their parents.
The HDB disclosed that flats purchased under the scheme were distributed evenly across non- mature and mature estates. For those desire to purchase homes in private residential or EC especially the upcoming new launch Inz Residence, This is not applicable although EC is also consider as “government initiatives”
National Development Minister Lawrence Wong noted the government recognises the desire of the majority of Singaporeans to live near their families.
“At the Ministry of National Development, help reinforce family bonds in Singapore,” he wrote in a Facebook post and we will continue to support this aspiration.
New Singapore Condominium: Parc Riviera by developer EL development will be launching soon in 2016. Parc Riviera will be sitting next to the waterfront of Sungei Pandan, along West Coast Vale. This residential development consist of 2 40-storey high towers and will accommodate up to 700 luxurious apartments.
Other than being completely equipped with complete condominium facilities, Parc Riviera is also surrounded by parks and recreational facilities. The park connector along Sungei Pandan is merely at the doorstep of this approaching new launching, future residents of this lovely development will manage to enjoy the captivating greenery in the parks every day while taking their relaxing walk or jog.
The National University of Singapore is a stone’s throw away.
Commercial amenities are available at Clementi Mall, City Vibe Mall and 321 Clementi Mall. The Clementi Wet Market and Food centre may also be found here. Mega malls such as Vivocity, JEM, Westgate shopping malls are within a short drive away also.
Conclusion: The surrounding condos like Botannia, beside Parc Riviera is either freehold or 999 leasehold while Parc Riviera is only 99 years. However, given the reputable developer, EL Development, they might be able to come up with real marketing strategies that will outshine the rest? Visit the developer website and find out more. The launch date will be roughly Aug/Sept 2016.