The Enhanced CPF Housing Grant (EHG) provides financial support for lower- to middle-income households purchasing new or resale flats as their first home. Recently, the grant amounts have been revised to offer greater assistance:
1. For Families: EHG increased from up to $80,000 to $120,000.
2. For Singles: EHG increased from up to $40,000 to $60,000.
Other grants, such as the CPF Housing Grant and Proximity Housing Grant (PHG), remain unchanged. This increase significantly boosts the total grant amounts available to first-time homebuyers.
Enhanced CPF Housing Grant: What You Need to Know
Buying your first home is one of the most significant decisions you’ll make. To make it more affordable, the Singapore government has revised the Enhanced CPF Housing Grant (EHG) to provide more financial support for first-time homebuyers. Whether you’re a family looking for a new or resale flat or a single applicant exploring housing options, the revised EHG offers greater assistance.
Revised Grant Amounts for Families and Singles
Below is a breakdown of the revised grant amounts for families and singles:
For Families
Grant Type Current Amount Revised Amount
CPF Housing Grant (2- to 4-room flats) Up to $80,000 No change
CPF Housing Grant (5-room or larger) Up to $50,000 No change
Enhanced CPF Housing Grant (EHG) Up to $80,000 Up to $120,000
Proximity Housing Grant (PHG) Up to $30,000 No change
Total for Resale Flats Up to $190,000 Up to $230,000
Total for New Flats (EHG) Up to $80,000 Up to $120,000
For Singles
Grant Type Current Amount Revised Amount
CPF Housing Grant (2- to 4-room flats) Up to $40,000 No change
CPF Housing Grant (5-room flats) Up to $25,000 No change
Enhanced CPF Housing Grant (EHG) Up to $40,000 Up to $60,000
Proximity Housing Grant (PHG) Up to $15,000 No change
Total for Resale Flats Up to $95,000 Up to $115,000
Total for New Flats (EHG) Up to $40,000 Up to $60,000
What This Means for First-Time Buyers
The revision in the EHG provides the following benefits:
1. Greater Financial Assistance:
Families can now receive up to $120,000, while singles can get up to $60,000, making housing more accessible for lower- to middle-income households.
2. Boost for Resale Flats:
For families purchasing resale flats, the total grant amount increases to $230,000, offering more financial leeway for housing costs.
3. Encouraging Proximity Living:
The Proximity Housing Grant (PHG) remains unchanged at $30,000 for families and $15,000 for singles, encouraging buyers to live near their parents or children.
Eligibility for EHG
To qualify for the Enhanced CPF Housing Grant (EHG), applicants must meet the following conditions:
•First-Time Buyer: Must be buying their first property, whether new or resale.
•Income Ceiling:
•Families: $9,000
•Singles: $4,500
•Employment Duration: At least 12 months of employment at the time of application.
•Flat Type: Applies to both new BTO flats and resale flats.
•Remaining Lease: The flat must have at least 20 years of lease remaining. Flats with fewer years may result in a pro-rated grant.
These conditions ensure that the grant benefits those who need it most while encouraging long-term homeownership.
Maximising Grants for Families and Singles
For families, the combination of the CPF Housing Grant, Enhanced CPF Housing Grant, and Proximity Housing Grant allows for significant financial assistance. Singles also enjoy enhanced benefits, ensuring that homeownership remains a viable goal for all.
The grants are especially helpful for resale flats, as they allow buyers to offset a considerable portion of the cost. This makes it easier for families and singles to live in mature estates near key amenities like schools, MRT stations, and shopping malls.
How ZaiDean Can Help You Navigate Your Homeownership Journey
Navigating the grant application process can be complex, especially with multiple eligibility criteria and overlapping grants. That’s where ZaiDean comes in. Our team of real estate experts is dedicated to helping you:
•Understand which grants you qualify for.
•Maximise the total grants available to you.
•Choose the best housing options, whether it’s a new BTO flat or a resale unit.
•Plan your finances effectively to make the most of your CPF and grants.
With the updated EHG offering increased financial support, there’s never been a better time to consider your homeownership options.
Take the Next Step with ZaiDean
If you’re a first-time homebuyer looking to take advantage of the enhanced CPF Housing Grant or need expert advice on purchasing a flat, ZaiDean is here to help. From understanding grant eligibility to finding the perfect home, we’ll guide you every step of the way.
Contact us today to discuss your housing needs and learn how we can make your homeownership journey smooth, stress-free, and successful. Let ZaiDean help you turn your dream home into reality.