Prior to 2013, singles were only allowed to acquire flats on the resale market.
Since the easing of rules on singles in 2013, 3,300 of the 12,000 singles that have applied for new two-room flats in non-mature estates have collected the keys to their new flats as at end-January 2018, reported TODAYonline citing the Housing and Development Board (HDB).
The rest of the applicants are still waiting for the completion of their new homes, said a spokesman from HDB.
Prior to 2013, singles were only allowed to acquire flats on the resale market. The rule was relaxed as part of the efforts of the government to provide additional housing options for unmarried individuals.
“Over the last four years, the flat supply for two-room flats in non-mature estates has remained steady at an average of about 4,000 units per year,” said the spokesman.
With the steady supply of such flats, the application rates for singles have dropped from a record high of 57.5 applicants to one two-room flat during the 2013 Build-to-Order (BTO) exercise to around 5.9 last year.
“HDB will continue to monitor the demand and calibrate its supply of two-room flats to meet the housing needs of this group,” added the spokesman.
Eligible first-timer singles acquiring an HDB flat can enjoy up to $40,000 in housing grants, comprising the Additional CPF Housing Grant (AHG) and the Special CPF Housing Grant (SHG), both of which are capped at $20,000.
Meanwhile, eligible first-timer singles who prefer to purchase a resale flat from the open market can enjoy up to $60,000 in housing grants, comprising the Singles Grant (capped at $25,000), AHG (capped at $20,000) and Proximity Housing Grant (PHG).
Under the Budget 2018 announcement, singles purchasing a resale flat to live with their parents may benefit from a PHG of $15,000, an increase from $10,000 previously, while singles acquiring a flat near their parents (or within 4km) may benefit from a PHG of $10,000.
Check out more HDB flats for sale.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email email@example.com