{"id":110663,"date":"2019-09-11T12:20:33","date_gmt":"2019-09-11T05:20:33","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/enhanced-housing-grant-to-boost-demand-for-hdb-resale-flats\/"},"modified":"2019-09-11T13:04:18","modified_gmt":"2019-09-11T06:04:18","slug":"enhanced-housing-grant-to-boost-demand-for-hdb-resale-flats","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/enhanced-housing-grant-to-boost-demand-for-hdb-resale-flats\/","title":{"rendered":"Enhanced housing grant to boost demand for HDB resale flats"},"content":{"rendered":"


\nThe new housing grant, streamlines two existing grants and comes with a higher wage ceiling. It also removed restriction on the location and type of flats being purchased.
\nAnalysts expect the Enhanced Central Provident Fund (CPF) Housing Grant unveiled on Tuesday (10 September) to further boost demand in the Housing and Development Board (HDB) resale market, reported Today Online.
\nIn May, the HDB resale market received a boost after the government announced changes to CPF use as well as public housing loans.
\nThe new grant, which was announced by Minister for National Development Lawrence Wong, streamlines two existing grants and comes with a higher wage ceiling. It also removed restriction on the location and type of flats being purchased.
\nWong revealed that the income ceiling for singles and couples for various HDB schemes and executive condos (ECs) have also been increased.
\nWith this, PropNex chief executive officer Ismail Gafoor expects resale flats within mature estates to be in \u201cgreater consideration\u201d for first-time buyers.
\nIn fact, he expects the proportion of resale flats being sold to rise by 10 percentage points to 35 percent next year from 25 percent in 2018. The rest being new HDB flats.
\n\u201cNot everyone would want to go for (a) BTO (unit) because they have to wait a long time and the location may not be good. There are not many BTO units in mature estates and even if they launch a project, the subscription rates are very high,\u201d said OrangeTee and Tie head of research and consultancy Christine Ong.
\nMeanwhile, some analysts believe the grant will also help raise the demand for ECs as more buyers become eligible under the increased income cap of $16,000, up from $14,000 previously.
\nOng shared that a number of EC plots have been sold and should be ready for launch next year. She noted that the new grant will \u201censure more buyers will be eligible which can help to absorb the supply of ECs next year\u201d.
\nHowever, the hike in demand that was triggered by the change could outstrip the current supply of ECs, said Nicholas Mak, head of research and consultancy at ERA Realty.
\n\u201c(ECs) take a long time to be ready. They can only launch the supply 15 months after they buy the land and already there is a shortage of EC projects,\u201d he said.
\n\u00a0
\nAgnes Ong at PropertyGuru, edited this story. To contact her about this or other stories, email\u00a0agnes.ong@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Enhanced housing grant to boost demand for HDB resale flats<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The new housing grant, streamlines two existing grants and comes with a higher wage ceiling....<\/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-110663","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-sMT","jetpack-related-posts":[{"id":110665,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/home-buyers-to-enjoy-higher-income-ceilings-and-enhanced-housing-grant\/","url_meta":{"origin":110663,"position":0},"title":"Home buyers to enjoy higher income ceilings and enhanced housing grant","date":"September 11, 2019","format":false,"excerpt":"\r The income ceiling for executive condo buyers has is now raised\u00a0from $14,000 to $16,000, while Singles aged 35 and above will also enjoy a higher income cap of $7,000, up from $6,000. In a bid to provide more home buyers with affordable housing options, the government raised the income\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112308,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/age-requirement-for-housing-grants-adjusted-for-singaporeans-married-to-non-citizens\/","url_meta":{"origin":110663,"position":1},"title":"Age requirement for housing grants adjusted for Singaporeans married to non-citizens","date":"November 12, 2019","format":false,"excerpt":"\r The revised Non-Citizen Spouse Scheme now allows you to have more flexibility\u00a0in affording and choosing a home.\u00a0 Singaporeans aged 21 and above who are married to non-citizens or non-permanent residents can now have additional housing grants of up to $40,000 when they purchase a resale flat for the first\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":114503,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-to-offer-more-two-room-flats-in-may-and-august-sale-exercises\/","url_meta":{"origin":110663,"position":2},"title":"HDB to offer more two-room flats in May and August sale exercises","date":"February 25, 2020","format":false,"excerpt":"\r The upcoming BTO exercises in Tengah, Choa Chu Kang and Woodlands will offer more two-room flats for singles 35 years old and above.\u00a0 HDB will offer more two-room Build-To-Order (BTO) flats in Tengah, Choa Chu Kang and Woodlands as more singles acquire homes following a rule change in 2013,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":113092,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/up-to-17000-bto-flats-to-launch-next-year-lawrence-wong\/","url_meta":{"origin":110663,"position":3},"title":"Up to 17,000 BTO flats to launch next year: Lawrence Wong","date":"December 16, 2019","format":false,"excerpt":"\r This is to meet the additional demand for houses after key policy changes.\u00a0 National Development Minister Lawrence Wong revealed that HDB will be launching 16,000 to 17,000 Build-To-Order (BTO) flats next year to meet additional demand after the roll-out of key policy changes this year, reported The Straits Times.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":114325,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-has-disbursed-550-million-under-proximity-housing-grant\/","url_meta":{"origin":110663,"position":4},"title":"HDB has disbursed $550 million under Proximity Housing Grant","date":"February 17, 2020","format":false,"excerpt":"\r A total of 29,600 households have benefited from the grant.\u00a0 HDB has disbursed $550 million to a total of 29,600 households under the Proximity Housing Grant (PHG) scheme, which was introduced in August 2015, reported The Straits Times. RELATED STORY:\u00a0HDB\u2019s Proximity Housing Grant (PHG): It\u2019s All About Familia Under\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110687,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/some-sellers-look-to-profit-from-enhanced-housing-grant\/","url_meta":{"origin":110663,"position":5},"title":"Some sellers look to profit from enhanced housing grant","date":"September 12, 2019","format":false,"excerpt":"\r Several property agents, however, believe that such opportunistic moves will not work. With the introduction of higher income ceiling and higher grants expected to boost the HDB resale market, some sellers wasted no time to raise their asking price in the hopes of gaining more profits. In fact, a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/110663"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=110663"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/110663\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=110663"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=110663"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=110663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}