More grants to help families own 2-room flats with shorter leases.
Families with young children living in rental housing can soon apply for a grant of up to $35,000 to own a 2-room HDB flat, under the Fresh Start Housing Scheme, said Finance Minister Heng Swee Keat in his maiden budget speech.
The flats will also come with shorter leases to make them more affordable.
To be eligible for the scheme, families need to demonstrate effort, like staying employed and making sure their children attend school.
Channel NewsAsia reported that the Housing Board and Ministry of National Development had held public consultations to gather suggestions on implementing the scheme, which was first announced by Prime Minister Lee Hsien Loong at last year’s National Day Rally.
#SGBudget2016 Fresh Start Housing Scheme: up to $35K grant; help families own 2-rm flat w shorter lease https://t.co/JOVTOJBqaA
— MOFsg (@MOFsg) March 24, 2016
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
