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Property News: 2019 BTO Launch, shorter waiting time for housing and first-timer grants

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If you’re looking to ballot for a new BTO flat this year, let us catch you up on the latest HDB news.

HDB recently announced that they will be launching an estimate of 15,000 BTO flats across three estates namely Seng Kang, Jurong West and Kallang Whampoa in 2019. Keen on doing some research on those estates first before balloting? Be sure to refer to our handy Hot Towns guides that provide a useful overview of the different housing estates in Singapore.

And should you get discouraged about the dreaded long waiting time for key collection, HDB now promises to shorten it from the standard waiting period of 3-4 years to 2-3 years for the 2,000 BTOs offered in the brand new West-side Tengah estate (or dubbed as “Forest Town” by HDB). This is exciting times for Tengah, with plans for Singapore’s first ever car-free town centre currently in the works to foster a less car-reliant society.

Fortunately, HDB has also added more grants for first-time applicants. Should they be able to meet this criteria, they will be eligible for grants with up to $40,000 of Additional CPF Housing Grant (AHG) and up to $40,000 in Special CPF Housing Grant (SHG). But be sure to keep in mind that if you are buying a property with a bank loan, this amount will still be included in the calculation of the CPF withdrawal limit. Want to learn more about the best bank mortgage rates? Our mortgage specialist is available to answer your queries, free of charge. Ask away!

Are you eligible?

Criteria for AHG Grant:

  • All must be first-timers – this applies to everyone that will occupy the flat.
  • The type of flat applied for must be a 2-room Flexi or bigger.
  • Applicants must have a maximum income ceiling of $5,000.
  • Your spouse (and you) have been employed for a total of 12-months or longer.
  • Applicants must not own any existing properties.
  • The lease on the flat must be 30 years or more.

Criteria for SHG Grant:

  • All must be first-timers – this includes everyone that will occupy the flat.
  • The type of flat applied for must be either a 2-room flexi, 3-room or a 4-room and located in a non-mature estate.
  • Income ceiling had been raised to $8,500 (maximum) for those who applied from November 2015’s sale launch.
  • Your spouse (and you) have been employed for a total of 12-months or longer.
  • Applicants must not own any existing properties.
  • The lease on the flat must be 30 years or more.

Sources: HDB, HDB, Mothership, Today


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