{"id":29349,"date":"2019-09-11T10:37:38","date_gmt":"2019-09-11T02:37:38","guid":{"rendered":"https:\/\/www.99.co\/blog\/singapore\/?p=29349"},"modified":"2022-07-19T00:37:46","modified_gmt":"2022-07-18T16:37:46","slug":"4-observations-on-the-new-hdb-ec-income-ceiling-enhanced-housing-grant","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/4-observations-on-the-new-hdb-ec-income-ceiling-enhanced-housing-grant\/","title":{"rendered":"4 observations on the new HDB\/EC income ceiling, Enhanced Housing Grant"},"content":{"rendered":"
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HDB\u2019s announcement of the latest changes<\/a> to the much-maligned income ceiling is sure to elicit extreme reactions.<\/b><\/p>\n\n\n\n

Those who were previously disqualified from BTOs for income reasons must be thanking their God of Fortune, whereas the unlucky couple who have waited donkey years for a successful BTO might just be about to give up entirely now that there\u2019s even more competition for the coveted queue number.<\/span><\/p>\n\n\n\n

In any case, the change in income ceiling was going to come sooner or later. The last time HDB revised the ceiling was in 2015: a similar S$2,000 increment from S$10,000 to S$12,000. One could argue this latest change is somewhat overdue given that Singaporeans\u2019 median incomes have risen significantly in recent years.<\/span><\/p>\n\n\n\n

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The Enhanced CPF Housing Grant (EHG)<\/b><\/h2>\n\n\n
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With the government combining two existing schemes \u2013 the Additional CPF Housing Grant (AHG) and the Special CPF Housing Grant (SHG) \u2013 to form the Enhanced CPF Housing Grant (EHG), the maximum salary eligible to apply has also been increased from S$6,000 (AHG + SHG) to S$9,000 (EHG).<\/span><\/p>\n\n\n\n

The government has also made the new EHG grant available for the purchase of resale HDB flats<\/b> (the SHG was previously available for buying BTO flats only). <\/span><\/p>\n\n\n\n

The other significant change is <\/span>that the EHG is extended to all flat types and locations<\/b>. Previously, the SHG was available only for purchases of 4-room or smaller new flats in non-mature estates.<\/span><\/p>\n\n\n\n

While the actual effects of HDB\u2019s changes remain to be seen, there are some observations that we can infer from the latest developments:<\/span><\/p>\n\n\n\n

Observation #1: Are ECs now too atas<\/i>?<\/b><\/h2>\n\n\n\n

Along with the BTO income ceiling increase, the government\u2019s decision to raise the EC income ceiling from S$14,000 to S$16,000 could be partly influenced by recent prices Executive Condominiums (ECs). And by recent ECs we mean Piermont Gran<\/a>d, the first EC project launched in nearly two years.<\/span><\/p>\n\n\n

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Piermont Grand<\/h4><\/div>\n
See all listings<\/a><\/span><\/div>\n <\/div>\n
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\n \"Tembusu\n <\/div>\n
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Tembusu Grand<\/div>\n
94 Jln Tembusu \u00b7 D15<\/div>\n
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\n \"bedroom\"\n 5<\/span>\n <\/div>\n
\n \"bathroom\"\n 6<\/span>\n <\/div>\n
\n 2,691 sqft<\/span>\n <\/div>\n <\/div>\n
S$ 7,888,000<\/div>\n <\/div>\n
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