The revised Non-Citizen Spouse Scheme now allows you to have more flexibility in affording and choosing a home.
Singaporeans aged 21 and above who are married to non-citizens or non-permanent residents can now have additional housing grants of up to $40,000 when they purchase a resale flat for the first time, reported The Straits Times.
Previously, only those aged 35 and above were eligible for the Enhanced CPF Housing Grant (Singles) grant when they purchased a resale flat under the Non-Citizen Spouse Scheme.
The scheme, which streamlines the Special CPF Housing Grant (SHG) and Additional CPF Housing Grant (AHG), allows a citizen whose husband or wife is neither a permanent resident nor a citizen to purchase a flat.
Such grant will be calculated based on 50% of the couple’s monthly household income, subject to a $4,500 income ceiling.
The income ceiling for the new Enhanced CPF Housing Grant (EHG) is now $9,000, compared to the SHG’s and AHG’s caps of $8,500 and $5,000 respectively.
This new grant also gives couples more flexibility in affording and choosing a home as it has a bigger income cap and does not have any restrictions on the flat location and size.
The EHG, though, comes with a caveat that requires the lease to cover the youngest buyer and the spouse until they are 95 years old (or it will be pro-rated). This is in line with the government’s bid to get people to purchase houses that can last them a lifetime.
According to Nicholas Mak, ERA Realty head of research and consultancy, the lowering of the age criteria for married citizens with a non-citizen spouse may increase demand in the HDB resale market, although purchase prices are not expected to wildly fluctuate as a result.
“I don’t think numbers under this scheme are that huge. Neither would such couples rush out to buy a resale flat so we shouldn’t see much of an effect. However, it does level the playing field and make the rules more equitable for these cross-nationality couples to be able to afford an HDB flat of their choice and start a family earlier,” he said.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email email@example.com