The 2024 guide to HDB housing grants

If you are a first-time homeowner in Singapore, leveraging HDB housing grants is the best way to keep the costs of home ownership affordable.

Depending on your eligibility, the grant can save you anywhere between $5,000 to $80,000 when you purchase your first Built-To-Order (BTO) flat or resale HDB unit.

This is quite a generous subsidy for owning a Singapore property which can significantly reduce your home loan and ease your monthly financial outlay.

New to HDB housing grants in Singapore? Read on to find out the different housing grants available, the eligibility criteria and what you need to look out for when applying for one.

HDB Housing Grants Table

Singapore HDB housing grants, also known as CPF housing grants, are offered to HDB flat buyers who meet specific criteria laid out by the housing authority.

Approved grants are not issued in cash but credited into applicants’ CPF Ordinary Accounts after flat booking so that they can be used to offset the prices of flats or reduce the home loan required for the flat purchase in Singapore.

Here’s a quick glance at the different types of grants available to couples, families and singles:

Found what you are looking for? Click on the grant you're interested in to jump to the respective section in this article:

1. Enhanced CPF Housing Grant (EHG)
2. CPF Housing Grants for Resale Flats
3. Step Up CPF Housing Grant
4. Proximity Housing Grant

Do note that Singapore housing grants are only available to Singapore Citizen (SC) and Singapore Permanent Resident (SPR) who are ready to set up homes either in a BTO or resale flat.

Foreigners are strictly prohibited from buying HDB properties and as a result not eligible for HDB grants.

Enhanced CPF Housing Grant (EHG)

For first-time home buyers, the EHG offers as much as $120,000 for couples and families and $60,000 for singles when they purchase new or resale flats from 20 August 2024.

Couples and families may apply for the grant as fiancé and fiancée, married couples, parents with children, multi-generation families or orphaned siblings. As a rule of thumb, applicants must be employed for at least 12 months prior to the application and the monthly household income for that period must not exceed $9,000. If you are applying with a second-timer applicant, half of the gross monthly household income must not exceed $4,500.

Singles are eligible to apply for EHG only if they are Singaporeans who are 35 years old or above, buying a new 2-room Flexi flat in non-mature estates or a resale flat except the 3Gen model. According to HDB, to be eligible for the EHG for singles, “your average gross monthly household income (all applicants and occupiers) for the months worked during the 12 months must not exceed:

- $4,500 if you are buying a flat on your own
- $9,000 if you are buying a flat with other singles or a resale flat with your parents
- $9,000 (half of the average gross monthly household income must not exceed $4,500) if you are buying a flat with a non-resident spouse.”

CPF Housing Grants for Resale Flats

This grant is only available to first-time resale HDB flat or Executive Condo buyers.

Couples and families with an average gross monthly household income not exceeding $14,000 are eligible. The CPF Housing Grants for Resale Flats that range between $80,000 and $70,000 for the purchase of a 2- to 4-room resale flat or $50,000 and $40,000 for a 5-room or bigger resale unit.

Single buyers may also be entitled to this grant if their monthly household income does not exceed $7,000. The grant amount is $40,000 for the purchase of a 2- to 4-room resale flat or $25,000 for a 5-room or bigger resale flat.

Step-Up CPF Housing Grant

If you are a married couple or family living in a 2-room HDB flat or a HDB public rental flat, and have utilised one hosing subsidy before, you can try to apply for the Step-Up CPF Housing Grant. The Step Up CPF grant gives you $15,000 to buy a new or resale HDB flat to help you upgrade your home.

For example, if you currently own a 2-room flat purchased with an HDB housing grant but wish to improve your living condition to a 3-room flat. You may apply for Step-Up CPF Housing Grant to reduce the cost of home ownership in Singapore.

To qualify for this grant, your monthly household income for the past 12 months must not exceed $7,000 and the remaining tenure of the flat must be enough to cover the youngest person in your household to the age of 95.

Proximity Housing Grant

The Proximity Housing Grant is an additional amount that you can apply for on top of all other grants and it is available to both couples/families and single applicants.

The grant is fixed at $30,000 if couples or families buy a resale flat to live with their parents and $20,000 if they live within a 4km radius of their parents or children. The grants are reduced to $15,000 and $10,000 respectively for single applicants.

Apply for HDB Housing Grants

Getting a HDB housing grant can be a bonus that can lower your overall home ownership costs and help ease your financial burden over a long period of time.

When you are planning to buy a HDB property, there are four factors you should consider to ensure you can get the most out of the grants:

1. Lower income, more HDB grants

The amount of grant you will receive is tagged to your monthly income. Applicants with lower income brackets tend to receive larger sums of grants and high-income earners with monthly household income exceeding the stipulated limit may not be eligible for any subsidies even if they meet other criteria.

2. Smaller HDB flat, more grants

Besides applicants’ income, grants like CPF Housing Grants for Resale Flats are allocated based on the size of the flat as well. The HDB grant is between $80,000 and $70,000 for the purchase of a 2-to 4-room resale flat and $50,000 and $40,000 for a 5-room or bigger resale unit.

The $30,000 difference can be significant savings for home buyers. Especially if you are undecided about buying a 4-room or 5-room flat, it is wise to take a second look at your budget and consider if acquiring the slightly smaller option with a bigger grant will work in your favour.

3. Remaining lease matters

To qualify for any grant, HDB requires the flat to be more than 20 years or must have enough remaining leases to cover the youngest occupier of the property to the age of 95 to qualify for the full grant. Do take note that if you intend to buy a flat with insufficient tenure, the grant will be prorated.

4. Live near your parents

Buying a flat that is within a 4km radius of your parent’s residence may entitle you to an additional $10,000 to $30,000 worth of PHG, which is an extra perk on top of the Enhanced CPF Housing Grant (EHG) or CPF Housing Grants for Resale Flats that you apply to.

If you have a tight budget, it may be worth narrowing your flat-hunt to a limited geographical area.

This article first appeared on Value Champion, edited with updated information.