The result to the brand new Closeness Home Grant (PHG) has been most encouraging, disclosed National Development Minister Lawrence Wong.
He noted that the PHG was intentionally expanded to any or all Singaporean families appearing to get a resale flat with or near married kids or their parents.
“So there is no household income limit.
Under previous rules, close to 50 percent of approximately nine in 10 singles who applied for the PHG and families wouldn’t have been eligible for practically any grant.
“We did this because we recognise the want to live nearer to parents and kids is shared by a broad spectrum of Singaporean families, and not only first-timer couples.”
Many home buyers also have profited from the income limits that were raised, noted Wong.
Nearly one in three buyers of new executive condominium components are profiting from the revised $14,000 income limit.