31 Aug '13, 11am

HDB Dangles Monetary Goodies and Imposes Restrictions

HDB Dangles Monetary Goodies and Imposes Restrictions by Property Buyer on August 31, 2013 The HDB landscape is swept with a sea of changes today. Broadly regulation changes are aimed at lending a hand to those in the lower- and mid-rung of the financial ladder, promoting a stable property market with prudent mortgages, meeting the needs of a greying population, and protecting HDB flats for Singaporeans. Firstly, the Special CPF Housing Grant (SHG), capped at $20,000, is enhanced to include first-time buyers of 4-room flats, in non-mature estates, purchased from HDB. The income ceiling for the SHG will also be upped from $2,250 to $6,500. Singles have their income limit and grant quantum for SHG set at half of that for family; therefore the eligible maximum income is now raised to $3,250. The goodie extends to lower-income households as well. HDB rolls out a new Step-Up CP...

Full article: http://thefinance.sg/2013/08/31/hdb-dangles-monetary-good...

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