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.