As Singapore’s population ages, the government faces the increasing costs of caring for the elderly. To alleviate those costs and encourage better support structures within families, the Singapore government is offering grant money to singles who purchase a HDB flat near their parents’ flat. Discover how this grant might enable singles or families to enjoy a better quality of life by customising their own flat, thanks to the extra money.
New Grant Provision for Singles
According to the Straits Times, Finance Minister Heng Swee Keat announced the expanded plan in his budget speech on February 19, 2018. He said that the changes to the Proximity Housing Grant would be in effect immediately. Thanks to the expansion of the existing programme, every single person in Singapore who purchases a Housing Development Board (HDB) flat near their parents will receive SGD$10,000.
The programme has been available in Singapore for a while; but the original version gave $10,000 only to singles purchasing a flat in order to live directly with their parents. The same amount was available for couples obtaining a flat in which to live with married children or with parents.
Thanks to the new grant, the available options and amounts have been significantly expanded. Now there is grant money available for people living near their parents, not just those occupying the same space.
- $10,000 for singles buying a flat near their parents
- $15,000 for singles buying a flat to live with their parents
- $20,000 for families purchasing a resale flat near their parents
- $30,000 for families purchasing a flat in order to live directly with parents
Benefits of the Grant for Singles
The news is exciting to many young, single professionals looking for a little extra help to make their start in life. It’s also helpful for established career professionals who are still single, interested in improving their quality of life by in spending more on their HDB home interior design to their own liking.
While Singaporean singles might not be able to afford a more upscale HDB flat, they can take on an older flat and use their grant money to improve it. They don’t even have to live in the same space as their parents – they just have to be nearby, within the directives of the programme.
Home Interior Design in Singapore
Are you planning to take advantage of the new grant options? You’ll need a company with plenty of Singapore interior design experience. Talk to the experts at Home Guide to discover how you can craft the perfect floor plan for your new HDB flat. We are an interior design company that is HDB licensed, Case Trust certified, and skilled at adapting HDB flats to every client’s needs. Whether you’re adapting the space for a growing modern family, or creating a calm retreat for a busy single professional, we’re here to help. Contact us today to plan your new home interior design in Singapore.