[HDB] Enhanced Proximity Housing Grant

Minister for Finance, Mr Heng Swee Keat announced during the Budget Statement in Parliament yesterday that the Government will enhance the Proximity Housing Grant (PHG) to encourage married couples, singles, and their parents to live closer together, in the same flat or nearby, for stronger family support.

The enhanced PHG are summarised below:

(A)     Increase in PHG for Extended Families to Live Together

To further encourage extended families to live together in the same flat for better care and support, families who buy a resale flat to live with their parents or children (who are married or singles aged 35 and above) will now enjoy a higher-tier PHG of $30,000, up from $20,000 previously. Those buying a resale flat to live near their parents or children will continue to receive a PHG of $20,000.

(B)     Enhancement of PHG for Singles

Singles aged 35 and above who buy a resale flat to live with their parents will receive the higher-tier PHG of $15,000, up from $10,000 previously. To encourage mutual care and support, singles who buy a resale flat to live near their parents will now enjoy a new PHG of $10,000.

(C)     Simplified Proximity Condition

The proximity condition for determining what is considered as “near” will be simplified. Previously, it was defined as within 2 km or the same town. HDB will revise this to just “within 4 km”. This revision will give home buyers more options when they buy a resale flat to live near their parents or children, including in nearby towns..

The enhancements to the PHG for families and singles are summarised in this table:

Enhanced PHG for Married/Single Child and Parents

Resale Flat Buyers Proximity Condition Enhancements
To Live With Parents/Child To Live Near Parents/Child (Within 4km)
Family $30,000 $20,000
Singles aged 35 and above $15,000 $10,000

The enhanced PHG will apply to eligible resale flat applications received on or after 3.30 pm, 19 February 2018. For more details, you may refer to the press release and the HDB InfoWEB.

[HDB] "Changes to Policies for the Renting out of HDB Flats and Living Quarters

HDB has announced changes to their policies for the renting out of HDB flats and living quarters of commercial properties, which will take effect from 1 May 2018.
Please Click Here for a copy of the press release that HDB has issued on the matter.
You may also refer to HDB InfoWEB at www.hdb.gov.sg/rentoutflatrules (renting out of whole flats) or www.hdb.gov.sg/rentoutroomrules (renting out of bedrooms) and www.hdb.gov.sg/LQrentingoutrules(renting out of living quarters) for information on the policy changes.

[HDB] "Implementation of HDB Resale Portal and Streamlined Resale Transaction Process

With effect from 01 January 2018, HDB implements the streamlined resale transaction process with the introduction of the new HDB Resale Portal.  The HDB Resale Portal has been launched via the HDB InfoWEB (www.hdb.gov.sg).  Flat buyers and sellers have to login using their SingPass to access the portal.

Here is a re-cap of the changes that take place:

i.      Sellers who wish to grant an Option to Purchase (OTP) from 1 January 2018 must use the new OTP form, which is available for download from the HDB InfoWEB (www.hdb.gov.sg).

ii.      Sellers must register their Intent to Sell in the HDB Resale Portal at least 7 days before granting an OTP to the buyers.  Buyers must register their Intent to Buy before the sellers grant them the OTP.  Buyers who are eligible for and intend to obtain a housing loan from HDB must have a valid HDB Loan Eligibility Letter when the sellers grant them the OTP.

iii.     The Resale Checklist for Sellers/Buyers e-Service has been discontinued from 1 January 2018.  Sellers and buyers who have submitted a Resale Checklist on or before 31 December 2017, and the Resale Checklist is still valid, need not register the Intent to Sell or Intent to Buy in the HDB Resale Portal.

iv.     The previous OTP form was valid until 31 December 2017.  Resale applications with OTPs granted before 1 January 2018 using the previous  OTP form will continue to be processed under the previous procedures, including attending a 1st Appointment at HDB Hub.  Such resale applications must be submitted to HDB by 31 March 2018.

v.     Buyers who are granted an OTP on or before 31 December 2017 (using the previous OTP form) but have not submitted a Resale Checklist, must from 1 January 2018 register an Intent to Buy before exercising the Option to Purchase.

vi.     Salespersons can continue to submit resale applications for their clients via the e-Resale system or Estate Agent Toolkit (for agencies which are subscribers).  They can also use the same facilities to submit their client’s Valuation Request (for transactions under the previous OTP) and Request for Value (for transactions under the new OTP from 1 January 2018).

vii.    Under the streamlined process, a resale transaction takes about 8 weeks (from the date of HDB’s acceptance of the resale application) to complete.  To facilitate HDB’s acceptance of the resale application, salespersons must ensure that their clients have all the relevant documents required to be attached with the resale application.  For HDB’s approval of the resale, it is necessary that their clients endorse all the documents and make the necessary payments according to the timeframe as requested by HDB.

For more information, please check out the “Frequently Asked Questions” on the HDB Resale Portal.