2017 has been another fruitful year for public housing. This year, we focused much of our efforts on helping first-timer families move in to their homes more quickly.
For first-timer couples looking to settle down quickly, we made buying a flat on the open market more affordable by enhancing the CPF Housing Grant from $30,000 to $40,000/$50,000 in February 2017.
In total, first-timer couples can now receive up to $110,000 in grants (comprising the enhanced CPF Housing Grant, Additional CPF Housing Grant and Proximity Housing Grant) when buying a resale flat. Since the changes, close to 6,900 first-timer households have benefitted from the enhanced CPF Housing Grant.
We also enhanced the Parenthood Provisional Housing Scheme (PPHS) to help couples who are waiting for their new flat to be ready. To date, about 840 households have benefitted from the higher PPHS rent subsidies.
In August 2017, we launched the first Re-offer of Balance Flats (ROF) exercise, which pools together unsold flats for sale to those with more urgent housing needs, or who are less particular about location. While the flat selection exercise is still ongoing, about 800 households have already managed to book a flat.
All these mean that young couples will have even more affordable and accessible housing options to start their marriage and parenthood journey early.
For 2018, HDB will maintain a steady supply of about 17,000 new flats, comparable to the 17,584 flats launched in 2017. We will continue to calibrate our flat supply carefully, taking into account underlying demand and the stability of the HDB resale market.
Over the course of the coming year, new flat buyers can look forward to a good spread of projects across mature and non-mature estates, including flats in the new Tengah town.
In the second half of 2018, we will launch about 1,000 flats in Sembawang, Sengkang and Yishun. These flats will have shorter waiting times of about 2.5 years, instead of the typical 3-4 years for most other BTO projects.
We will also continue our efforts to ensure that our housing policies remain inclusive and enable families to live closer together for mutual care and support.
Here’s wishing all a Merry Christmas and Happy New Year!
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