This was buoyed by an increased supply of Housing Board flats, and the expansion of the grant to include four-room flat owners.
In the last financial year, households receiving the Special CPF Housing Grant more than tripled, according to the latest annual report by the Housing Board (HDB).
A total of 10,213 households received the grant up till March 31, 2015, up from 3,380 in the previous financial year. In July 2013, the income ceiling for the grant was raised, and it was extended to four-room flats.
Public flats have also been built at a faster rate to meet demand – with more than double the number of Build-To-Order flats being completed in the last four years, compared to the previous four years.
From 2011 to 2014, 72,218 units were built, as compared to the 29,935 units built from 2006 to 2010.
Actual speed of construction might also have risen, said real estate firm Century21’s chief executive officer Ku Swee Yong.
BTO projects launched in the second half of 2011 were completed by early 2015. “The pace was faster than normal – just over three years,” he quipped.
Visit The Straits Times for more.
If you found this article helpful, 99.co recommends 5 resale flats you can buy at $400,000 or less (with the increased CPF housing grants) and Can changes to the CPF help home buyers?
Looking for a property? Find your dream commercial property on Singapore’s largest property portal 99.co!
Looking to sell your property?
Whether your HDB apartment is reaching the end of its Minimum Occupation Period (MOP) or your condo has crossed its Seller Stamp Duty (SSD) window, it is always good to know how much you can potentially gain if you were to list and sell your property. Not only that, you’ll also need to know whether your gains would allow you to right-size to the dream home in the neighbourhood you and your family have been eyeing.
One easy way is to send us a request for a credible and trusted property consultant to reach out to you.
Alternatively, you can jump onto 99.co’s Property Value Tool to get an estimate for free.
If you’re looking for your dream home, be it as a first-time or seasoned homebuyer or seller – say, to upgrade or right-size – you will find it on Singapore’s fastest-growing property portal 99.co.
Meanwhile, if you have an interesting property-related story to share with us, drop us a message here — and we’ll review it and get back to you.
Join our social media communities!
Main Facebook page
Facebook #All Things HDB page
Facebook #Condo-Maniacs page
Facebook #UHNWIs Luxury Homes page
Instagram Main
Instagram #HouseInsights
Instagram #HouseTips
TikTok Main
TikTok #HouseTips
Telegram
YouTube
Twitter
Leave a comment