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Singapore Budget 2018: S$80m more per year to support family members to live with or near each other
SINGAPORE will spend an additional S$80 million per year to encourage family members to live with or near each other.
Finance Minister Heng Swee Keat said on Monday that the government will increase the Proximity Housing Grant (PHG) for families buying a resale flat to live with their parents or children to S$30,000. Those buying a resale flat near their parents or children will continue to receive a PHG of S$20,000.
Mr Heng said singles who buy a resale flat to live with their parents will now get an enhanced PHG of S$15,000. Those who buy a resale flat near their parents will also now get a PHG of S$10,000.
The criterion for determining what is 'near' will be simplified to "within 4km", from the current definition of living in the same town or within 2km.
Together with the recently-enhanced CPF Housing Grant and the Additional CPF Housing Grant, a first-timer applicant can now get up to S$120,000 in housing grants when buying a resale flat to live with their parents. This is a 50 per cent increase compared to three years ago.
For more Budget 2018 stories visit bt.sg/budget18