What’s the Max CPF Housing Grant You Can Get?
One of the hottest topics you’d hear from a bunch of millennials or young adults who are looking to settle down: “Should I go for a BTO or a resale flat?”
Whether it’s you and your Significant Other, or hearing a friend grouse about the waiting times of his latest BTO… it’s definitely a topic that we pretty much can’t escape. (Much like all the NS-talk, right girls?!)
Besides HDB housing loans, there are also these CPF loans which are loans dedicated to aid Singaporeans in securing their (mostly) first home.
BTO and Resale Flats
| BTO | Resale | |
|---|---|---|
| Waiting Time | 3-5 years | ASAP |
| Ave. Price (4-rm flat) | $311,000 | $457,000 |
| Renovation | Usually more exp. | Usually less exp. |
| Ave. Size | 90sqm | 104sqm |
| Location | Pre-defined | Your preference |
| Lease Period | 99 years | Shorter than 99-years |
1. BTO: Brand new HDB Flats
These are the most common type of flats offered by our government. Mainly built for first time home buyers, they are offered at the lowest entry price possible, which also often leads to heavy demand and often tough to ballot for more popular sites.
- Non-mature sites (eg. Punggol, Chua Chu Kang): 3 room ~$160,000
- Mature sites (eg. Toa Payoh, Geylang): 3 room ~$380,000
| Pros | Cons |
|---|---|
| Brand new as first occupants | Need to wait 3 to 4 years before moving in |
| Lowest ever prices land subsidised by govt | Need to stay the MOP (Minimum occupancy) for 5 years |
| High appreciation potential to re-sell | Many restrictions on who you can sell and rent to |
2. Resale: Older HDB Flats
These are the next most common type of flats. However, this is on the secondary market, which also means the prices are set by demand and supply accordingly. From one HDB owner to others. It’s a free market and you can use sites like SRX, 99.co, and PropertyGuru to find your dream home.
- Non-mature sites (eg. Punggol, Chua Chu Kang): 3 room ~$350,000
- Mature sites (eg. Toa Payoh, Geylang): 3 room ~$450,000
| Pros | Cons |
|---|---|
| Can come with some existing furnishing | Limited appreciation potential (limited life) |
| Get to choose your locations | Limited subsidies available |
| Can move in immediately after purchase | Potential re-design needed (e.g hacking, ID) |
Grants for BTO Flats
The available grants offered by HDB for the application of BTO flats are pegged to household income. This is so that lower-income households receive more help in securing a home.
Applicants of SBF and ROF flats are also eligible for the grants under BTO. However, if the selected SBF or ROF unit has a low remaining tenure, the grant amounts may be lower.
| BTO | Resale | |
|---|---|---|
| Both first time applicants | Additional CPF Housing Grant (AHG) | Family Grant |
| Special CPF Housing Grant (SHG) | Additional CPF Housing Grant (AHG) | |
| One is a first-timer, the other is a second-timer | Additional CPF Housing Grant (Singles) | Half Housing Grant |
| Special CPF Housing Grant (Singles) | Additional CPF Housing Grant (AHG) | |
| Both applicants are second-timers | Step-Up CPF Housing Grant | Top-Up Grant (previously received Singles Grant) |
| If one applicant is a foreigner (Non-Citizen Spouse Scheme) | Additional CPF Housing Grant (Singles) | Non-Citizen Spouse Scheme |
| Special CPF Housing Grant (Singles) | ||
| For SC/SPR households with the SPR spouse taking up citizenship | N/A | Citizen Top-Up Grant |
| For applicants buying a resale flat within 4km of their parents | N/A | Enhanced Proximity Housing Grant |
BTO Grants for First-Timer (AHG and SHG)
Case 1: You and your partner are both first-time applicants
- Additional CPF Housing Grant (AHG) – Up to $40,000 with monthly household income capped at $5,000
- Special CPF Housing Grant (SHG) – Up to $40,000, with monthly household income capped at $8,500.
This grant is only applicable for purchase of 2-room Flexi, 3-room, or 4-room flat in a non-mature estate.
BTO Grants for First-Timer and Second-Timer Couple (AHG and SHG)
Case 2: One of you is a first-timer and the other a second-timer
The Half-Housing Grant amount is half of the Family Grant that you and your spouse/ spouse-to-be would qualify for if both of you were first-timer applicants.
- Additional CPF Housing Grant (Singles) – Grant amount of up to $20,000. Half of the average household monthly income for the 12 months before the flat application must not exceed $2,500.
- Special CPF Housing Grant (SHG) (Singles) – Up to $20,000. To qualify, half of the average monthly household income for the 12 months prior to flat application date must be within $4,250. Only applicable for purchase of four-room and smaller flats in non-mature estates.
BTO Grants for Second-Timers
Case 3: Both applicants are second-timers
- Step-Up CPF Housing Grant -$15,000, only for couples who are living in a two-room subsidised flat and wish to apply for a new 3-room flat in a non-mature estate. The income ceiling is at $7,000.
BTO Grants If One Applicant Is a Foreigner (AHG and SHG)
Case 4: If one applicant is a foreigner (Non-Citizen Spouse Scheme)
- Additional CPF Housing Grant (AHG) (Singles) – Grant amount of up to $20,000. Half of the average household monthly income for the 12 months before the flat application must not exceed $2,500.
- Special CPF Housing Grant (SHG) (Singles) – Up to $20,000. To qualify, half of the average monthly household income for the 12 months prior to flat application date must be within $4,250. Only applicable for purchase of four-room and smaller flats in non-mature estates.
Grants for Resale Flats
Resale Flats Grants for First-Timer (AHG and SHG)
Case 1: You and your partner are both first-time applicants
- Family Grant – $50,000 for four-room flats or smaller and $40,000 for five-room flats or larger. Monthly household income capped at $12,000 (or $18,000 for extended family applicants).
- Additional CPF Housing Grant (AHG) – up to $40,000, with monthly household income capped at $5,000.
Resale Flats Grants for First-Timer and Second-Timer Couple (AHG and SHG)
Case 2: One of you is a first-timer and the other a second-timer
- Half-Housing Grant – Up to $25,000, monthly household income capped at $12,000 (or $18,000 for extended family applicants).
Resale Flats Grants If Applicants Previously Received A Singles Grant
Case 3: For applicants who have previously received a Singles Grant
- Top Up Grant
The Top-Up Grant amount is the difference between the Family Grant that you now qualify for, minus the Singles Grant amount that you had previously received.
Only those with monthly household income capped at $12,000 are eligible.
Other Types of Resale Flats Grants
Case 4: For Singapore Citizen/Singapore Permanent Resident (SC/SPR) households with the SPR spouse now obtaining Singapore Citizenship status
- Citizen Top Up Grant – $10,000 when a qualifying household member becomes a Singapore Citizen
Case 5: For applicants buying a resale flat within 4km of their parents (including nearby towns)
- Enhanced Proximity Housing Grant (PHG) – Up to $30,000
Conclusion: Find what fits you best
Purchasing a home is a big decision. Make the right calculations to decide if the financial stress is manageable, and consider if what you are applying for gives you a comfortable repayment amount and duration on top of the grants that you are eligible for.
