Recent Policy Announcements By HDB
 
The following are the Press Releases about the policy changes for your information:
 
(A) Policy Changes to Support an Inclusive and Cohesive Home
 
  1. To reinforce the privileges of citizenship, the full amount of the CPF Housing Grant is given only to eligible Singaporean families comprising at least two Singapore Citizens. For families with only one Singapore Citizen (SC) and at least one Singapore Permanent Resident (SPR), the amount of the CPF Housing Grant is reduced by $10,000. Such families can apply for a $10,000 Citizen Top-Up when an SPR family member in the SC/SPR household takes up citizenship or if the couple has an SC child while still in ownership of the flat.
  2. To encourage social integration and to prevent enclaves from forming in public housing estates, HDB has introduced an SPR Quota for non-Malaysian SPR families buying resale flats. Such families cannot buy flats in Blocks and Neighbourhoods that have exceeded the quota except from non-Malaysian SPR sellers. The SPR Quota is implemented along the line of and in conjunction with the Ethnic Integration Policy.
  3. For the Ethnic Integration Policy, HDB has increased the limits for the Indian/Others ethnic group by two percentage points to 12% at the Neighbourhood level and 15% at the Block level, in view of Singapore’s changing demographics.
 
The details are in the attached Press Release.
 
(B) Reinforcing Owner-Occupation Among HDB Flat Owners
 
HDB flats are meant for owner-occupation. To reinforce this objective, the Minimum Occupation Period (MOP) for resale of non-subsidised flats (i.e. resale flats bought without CPF Housing Grant) is increased to 3 years, regardless of whether the buyer takes an HDB loan, a bank loan or no loan at all.
 
The details are in the attached Press Release.
 
(C) Revisions to HDB Loan Policy to Support Right-sizing and Financial Prudence
 
2nd-timer households are no longer required to buy bigger flats to qualify for a 2nd concessionary loan from HDB. To further encourage financial prudence and right-sizing in home purchases, HDB has reduced the amount of the 2nd concessionary loan by the full CPF proceeds and part of the cash proceeds from the sale of the existing or immediate past HDB flats.
 
The details are in the attached Press Release.
 
(D) Lease Buyback Scheme To Benefit More Elderly HDB Households
 
To enable more lessees to benefit from the Lease Buyback Scheme, HDB has extended it to those owning 4-room and bigger flats.
 
The details are in the attached Press Release.
 
 
Click here to view details.