In two Facebook posts, the Minister of National Development, Desmond Lee, wrote to reaffirm the government's commitment to keeping public housing affordable and accessible, and to focus on prioritising those applying for their very first home.
Lee said that the point about prioritising those applying for their very first home came out strongly in their housing conversations under the Forward Singapore exercise.
During Deputy Prime Minister (DPM) and Finance Minister Lawrence Wong's Budget 2023 speech, new measures were introduced to help further support first-time homebuyers, specifically first-timer families with children and young married couples below the age of 40.
Additionally, there will be an increase in the CPF Housing Grants which will help Singaporeans buy an HDB resale flat as their first home.
"We are committed to keeping public housing affordable and accessible, especially for Singaporeans buying their first home," Lee wrote.
Here is a breakdown of the grants and measures that will be offered to first-time buyers:
At the end of his post, Lee calls for patience for those applying for resale.
"Please be patient with my colleagues as they will need some time to process your resale application and extend the increased grants to those who are eligible," he wrote.
Prioritising those applying for their first home was key feedback in Forward S'pore conversations
During a series of housing conversations under the Forward Singapore exercise, Lee said that one point that came out strongly was the need to prioritise those applying for their very first home.
These Singaporeans include families with children and young married couples who had just started working and may not have built sufficient savings to explore other housing options, Lee noted.Lee also noted that while a large majority of the BTO supply is reserved for first-timers, the government wanted to give a smaller subgroup among first-timers "a bit more assistance" to secure their homes.
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