MND releases details on Proximity Housing Grant and other changes

Singapore

THE Ministry of National Development (MND) on Monday unveiled more details on the four housing measures announced by Prime Minister Lee Hsien Loong in his National Day Rally speech on Sunday.

First, the new Proximity Housing Grant (PHG), which will help Singaporeans buy a resale flat with or near their parents or married child; this will complement the various priority schemes with the same objective, but which have so far targeted only buyers of new flats.

From Aug 24, eligible Singaporeans will receive a PHG of S$20,000; eligible singles will get a PHG of S$10,000 if they buy a resale flat with their parents.

The unique thing about the grant is that all Singaporeans are eligible for it once in their lifetime - whether they have enjoyed housing subsidies before, regardless what their household income is or whether they own private property. (They are, however,…