Friday, January 23, 2009

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Singapore Government Budget to benefit more home-buyers of HDB flats

Under the latest Singapore goverment budget announced yesterday, home-buyers will get more help to pay for their first home.

The Additional CPF Housing Grant for first time home-buyers will be increased from
S$30,000 to S$40,000. The additional housing grant is provided to help lower-income families buy their first HDB flat, which can be a new HDB flat or a resale flat.

The household income ceiling to qualify for this will also be raised from S$4,000 to S$5,000.

The above policies will likely provide some additional support to HDB resale flat prices during the current economic downturn given that more housing subsidy is available to more first-time home buyers. Smaller HDB flats will be the greatest beneficiary.

8,000 home-buyers are expected to benefit from this scheme each year, costing the government about S$150 million per year.

May also want to read:
99 Leasehold Property: Calculation of Depreciation Rate based on Singapore Land Authority Data
Spore Property History 1960-2008
Property Investment Tip: Don't put all your eggs in one basket
HDB Resale Price Index 1990-2008: Graph & Chart


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The blogger here has been affectionately named by close allies as "Smart Buyer" but really, he's not smart. Smart Buyer just believes that being prudent is smart. That's the essence of the message of this blog and Smart Buyer hopes it'll benefit other property buyers.

Smart Buyer :)