{"id":103875,"date":"2019-02-11T10:40:02","date_gmt":"2019-02-11T03:40:02","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/3500-rental-tenants-purchased-first-home-since-2013\/"},"modified":"2019-02-11T11:04:32","modified_gmt":"2019-02-11T04:04:32","slug":"3500-rental-tenants-purchased-first-home-since-2013","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/3500-rental-tenants-purchased-first-home-since-2013\/","title":{"rendered":"3,500 rental tenants purchased first home since 2013"},"content":{"rendered":"


\nThese rental flat tenants were able to buy their new homes with the help of HDB housing grants.
\nAbout 3,500 rental flat tenants bought their first home in the Build-to-Order (BTO) or Sale of Balance Flats (SBF) exercises since 2013, of which some 2,000 have moved into their new units, reported The New Paper citing an HDB release.
\nOne of them was Mohammad Suhaimi Junaini, who along with his wife and two daughters, moved to a three-room flat in Jurong West last September.
\nFind\u00a0HDB flats for sale or read our\u00a0HDB guides\u00a0and\u00a0BTO guides
\nThe family of five lived in a rental flat in Telok Blangah for five years.
\nEarning $1,300 per month, the 32-year old delivery driver applied for the $200,000 unit in November 2017 as he believed it was better to acquire a flat than pay the monthly rental of $250.
\nThis comes as the flat would \u201cprovide the family with security\u201d in case something unexpected happened to him, he said.
\nHe was able buy the flat with the help of $70,000 in housing grants and a $100,000 Housing Board loan.
\nHDB revealed that an average of around 600 rental tenants become new homeowners each year.
\nOf the 3,500 tenants who acquired their first home in the last six years, 28 percent opted for two-room flexi flats while 47 percent chose three-room flats.
\nAround 72 percent purchased a flat with the Special CPF Housing Grant or Additional CPF Housing Grant (AHG), or both.
\nEligible first-timer families who purchase a flat from HDB can get up to $800,000 in housing grants, comprising the AHG (up to $40,000) and the Special CPF Housing Grant (up to $40,000).
\nMeanwhile, tenants who choose a resale flat can get up to $110,000 in housing grants, comprising the CPF Housing Grant (up to 50,000), AHG (up to $40,000) and Proximity Housing Grant (up to $20,000).
\nCan you afford an HDB flat? Check your\u00a0affordability\u00a0now.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…3,500 rental tenants purchased first home since 2013<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

These rental flat tenants were able to buy their new homes with the help of...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-103875","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-r1p","jetpack-related-posts":[{"id":102964,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/almost-50-of-public-rental-tenants-previously-owned-hdb-flats\/","url_meta":{"origin":103875,"position":0},"title":"Almost 50% of public rental tenants previously owned HDB flats","date":"January 15, 2019","format":false,"excerpt":"\r Many public rental tenants struggle to afford a flat due to medical issues, divorce or loss of employment. Over the past two years, an average of around 7,300 households have applied for rental flats each year, revealed the Ministry of National Development in Parliament on Monday (14 Jan). \u201cHDB\u2019s\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":80332,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/3000-public-rental-tenants-purchased-their-first-home-hdb\/","url_meta":{"origin":103875,"position":1},"title":"3,000 public rental tenants purchased their first home: HDB","date":"February 19, 2018","format":false,"excerpt":"\r Most of the tenants opted to purchase 2-room Flexi and 3-room flats. Thanks to the Housing and Development Board\u2019s (HDB) various housing grants, about 3,000 rental flat tenants were able to acquire their first home in the Build-To-Order (BTO) or Sales of Balance Flats (SBF) exercises between 2013 and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":102355,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/foreigners-can-rent-hdb-flats-for-up-to-two-years-by-2019\/","url_meta":{"origin":103875,"position":2},"title":"Foreigners can rent HDB flats for up to two years by 2019","date":"December 18, 2018","format":false,"excerpt":"\r Excluding Malaysians, foreigners were previously only allowed to rent HDB flats for a period of 18 months.\u00a0 The Housing and Development Board (HDB) announced on Tuesday (18 Dec) that starting next year, foreigners, excluding Malaysian citizens, will be able to rent HDB flats or bedrooms for as long as\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":121243,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-sets-aside-800-more-rental-flats-under-pphs-and-introduce-new-eligibility-conditions\/","url_meta":{"origin":103875,"position":3},"title":"HDB sets aside 800 more rental flats under PPHS and introduce new eligibility conditions","date":"August 4, 2021","format":false,"excerpt":"\r HDB will finetune its eligibility conditions and allocation process for PPHS, and also introduce a new\u00a0$7,000 income ceiling for such flats.\u00a0\u00a0 The HDB on Tuesday (3 August) announced that 800 more rental flats will be set aside over the next two years for families awaiting the completion of their\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/08\/HDB-flats-in-Bukit-Panjang-scaled.jpg?fit=1200%2C406&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":120545,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/about-4800-vacant-rental-flats-available-for-allocation-to-new-tenants\/","url_meta":{"origin":103875,"position":4},"title":"About 4,800 vacant rental flats available for allocation to new tenants","date":"July 7, 2021","format":false,"excerpt":"\r However, successful applicants will have to face longer waiting times of about six months, compared to an average of three months during the last five years as sprucing works have slowed down due to manpower crunch.\u00a0 The Housing and Development Board (HDB) has about 4,800 vacant rental flats available\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/HDB-flats-in-Tampines.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":122400,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-not-to-provide-direct-financial-subsidies-for-open-market-rental\/","url_meta":{"origin":103875,"position":5},"title":"HDB not to provide direct financial subsidies for open market rental","date":"October 6, 2021","format":false,"excerpt":"\r The decision by HDB not to provide direct financial subsidies for rental units on the open market was made to prevent driving up market rentals and inducing demand. 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