Nearly 1 million HDB households to receive rebates in July as energy tariffs fall
The disbursement is part of ongoing efforts by the government to address cost-of-living pressures amid rising prices.
According to the Ministry of Finance (MOF) on 30 June 2025, the rebates are part of the permanent GST Voucher scheme and the enhanced Assurance Package.
Eligible households will receive up to S$190 in U-Save rebates for utility bills and up to one month's worth of service and conservancy charges (S&CC) rebates.
The amounts vary according to flat type. Households in one- and two-room flats will receive the maximum of S$190 in U-Save and a full month's S&CC rebate.
Those living in four-room flats will receive S$150 in U-Save and a half-month of S&CC rebates.
The rebates will be automatically credited. U-Save rebates go to households' SP Services accounts, while S&CC rebates are sent to town council accounts.
In total, eligible households can receive up to S$760 in U-Save rebates and up to 3.5 months' worth of S&CC rebates in the 2025 financial year.
The rebates are distributed quarterly in April, July, October, and January.
Eligibility is based on citizenship status and property ownership. For U-Save rebates, a household must have at least one Singaporean owner or occupier.
If the flat is entirely rented out, there must be at least one Singaporean tenant.
Households where individuals own more than one property are not eligible for U-Save rebates.
To qualify for S&CC rebates, there must be a Singaporean flat owner or occupier, and none of the owners or essential occupiers should own private property.
Flats that have been fully rented out are also ineligible.
Residents can check their eligibility for S&CC rebates through My HDBPage using their Singpass.
The Finance Ministry also issued a reminder that officials will never request money transfers or personal banking information via phone calls.
Separately, national grid operator SP Group announced that electricity tariffs will decrease for the quarter from July to September 2025.
The fall is attributed to lower energy costs, following steady rates in the previous quarter.
Electricity tariffs will drop by 2.3 per cent, equivalent to a reduction of 0.65 cent per kWh before GST.
This will bring the new electricity tariff to 27.47 cents per kWh before GST.
As a result, families in HDB four-room flats can expect a reduction of about S$2.36 in their average monthly electricity bill, before GST.
City Energy, the gas supplier, also announced a decrease in gas tariffs.
The rate will drop from 22.72 cents per kWh to 22.28 cents per kWh, also due to lower fuel costs.
Both SP Group and City Energy review tariffs quarterly, under guidelines from the Energy Market Authority (EMA).
SP Group explained that the energy cost component of electricity tariffs is based on average natural gas prices in the first 2.5 months of the previous quarter.
Tariffs are susceptible to fluctuations due to global fuel price volatility, which can be affected by geopolitical events, such as ongoing conflicts in the Middle East.
Electricity tariffs consist of four components: energy costs paid to power generation companies, network costs paid to SP Group, market support service fees, and a fee to the Energy Market Company for operating the electricity wholesale market.
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AsiaOne
8 hours ago
- AsiaOne
I bought a freehold property in Singapore and regret it - here's the big mistake I made, Lifestyle News
A lot of Singaporean homebuyers, particularly those of the older generation, have a clear preference for freehold status. Perhaps it's due to a sense of permanence — that their children or grandchildren will be sheltered by the fruits of their labour. Or perhaps its simply decades of reinforcement, and being told by their parents, friends, family, agents, etc. that freehold is superior to leasehold. But more Singaporeans are beginning to look past freehold status these days, and two homeowners recently shared why they regret paying the freehold premium: A freehold option that turned out to be the lower performer after decades TY and her husband made their first private home purchase in the 2010s, after selling their 4-room flat in Bedok Reservoir. As they wanted a unit they could move into right away, they sought resale condos in the east. They soon fell into a state of "analysis paralysis", however, as they couldn't easily decide between the condos on their shortlist: "I think our mistake was having too many cooks, because we were taking advice from my brother-in-law, who is a landlord, my colleague who had just bought her place, and my friend who was also our agent. We also didn't moderate our expectations, we wanted our ideal property to fulfil too many requirements — be close to the office, be close to my son's school, be close enough for my parents to get to without a car, the list was quite long." The long process of "watch and wait" caused the couple to lose out on their top options, and when they eventually decided to make their move, they were on the lower end of the list where many compromises would be required. They eventually narrowed down their choices to either Casa Merah in Tanah Merah, which had just been completed at the time, or to Changi Court, which was much older but closer to TY's workplace. It's worth noting that the couple had misgivings about both these developments, but they had already found themselves in a worse position by waiting; so they decided to push ahead rather than keep waiting again. TY says their initial decision, and the one recommended by her friend and agent, was Casa Merah. However, the couple noted that prices for Casa Merah would have been high as it was just a year old at the time (it received its TOP in 2009). According to TY, their intended unit would have cost around $1 million for just under 1,000 sq ft. Conversely, the unit they ended up buying — at Changi Court — was about the same size but cost only about $860,000. And while it was on a lower floor, the surroundings are low rise, so it makes very little difference. However — and this is where TY feels they made a mistake — their rationale was that Changi Court was cheaper, comparable in size, and also freehold. Casa Merah, the alternative, was on a 99-year lease that started in 2006. However, the couple accepted certain compromises: the facilities at Changi Court were older and smaller, there were a lot more tenants in the mix (likely due to the presence of the SIA Training Centre and SUTD right next to the condo), and a drastic lack of nearby amenities — there wasn't even a coffee shop nearby, to the point where "we would have to prearrange buying snacks and supper because we knew there would be no options nearby, once we crossed 9pm." While there is an MRT station just outside their condo, Upper Changi MRT station is on the Downtown Line, making it much harder to get to the airport than Tanah Merah MRT, which would be a direct connection. Nonetheless, TY says they felt they had a good deal, as they were confident the freehold status and lower initial price would pay off. Fast forward to today though, and TY says recent checks with agents suggest a value of around $1.35 million for the couple's Changi Court unit. This is roughly a 3.3 per cent ROI. After checking on Casa Merah, the couple determined that the appreciation of similar-sized units there… is almost the same at 3.2 per cent.* *We have not independently verified these numbers. This is a major disappointment for the couple, as despite tolerating the lack of amenities and older facilities, there wasn't much difference in gains. In fact, with the completion of the mixed-use Seneca Residence near Tanah Merah MRT, Casa Merah may even have stronger upside potential now, as there are going to be retail shops and a mall nearby. In the end, TY says, "We should have picked the most practical one instead of choosing just because it's freehold, and it would have made life easier. Now that we're older and wiser, we will keep our eye on practical things when we choose our next house." The couple do have plans to move again in the near future, but their next choice will be somewhere with East-West Line connectivity, as they don't drive. Freehold premiums aggravated losses from buying at a bad time SP purchased his freehold property, which is located close to Great World City, at a difficult time. There was no indication at the time — around 2010 — that the subsequent years would see a slew of cooling measures. From the last property peak in 2013, the market remained soft all the way till about 2017. For more details on this, you can see this article. SP isn't too distressed by that though, as it's just a matter of luck and timing, and he acknowledges it happened across the board. However, he does feel his choice to buy in a prime area like Great World, where most properties are freehold, may have aggravated his losses: "At the time, I had just sold my previous condo, and I am single, so I just need a two-bedder. Since I can buy smaller, one advantage I usually have is that I can get a better location. This time I went for a new launch at Great World because it was convenient, and because I would be living closer to my parents." While he doesn't want to disclose the project in question, SP says the unit he purchased was 775 sq ft, and was "around $2,100 psf," which would have been considered pricey by 2010 standards. He notes that opting for a leasehold condo would have meant buying outside of the city core, so "it's not so much that I wanted freehold, but I wanted an area where freehold was what I could get." In hindsight, SP now wishes he had picked a cheaper and less-central location, with room for upside growth. He does admit he was "over-optimistic" as the Singapore property market up to that point had been booming; the market saw a sharp spike in the recovery from the Global Financial Crisis. This meant the sale proceeds from his previous two-bedder exceeded expectations and easily funded his next purchase. Amid this sea of confidence, it was a shock when, later on, the developer announced a steep discount to sell off remaining units; and while SP doesn't recall how big the discount was, he blames it as the main reason for his condo's poor showing. The discount compounded the issues to come in the 2013 to 2017 period, when prices stayed low under cooling measures. Nonetheless, SP held on over the years: "When I buy, I buy with the expectation that I can stay there forever if necessary, precisely because of what I'm experiencing now. So I was prepared for it, but it still hurts." Also, after the first few years of moving in, SP realised he had overrated the facilities. The condo is small, almost boutique, with only 105 units. So when SP visited friends who lived in other projects, he "got a sense of how compact my place really is, and even mass market condos have better pools and better landscaping." The opening of Great World MRT station (TEL) is expected to help now; but it's taken a very long time since SP's purchase, opening only in 2022. He's hopeful that this will mark a turnaround, but notes that for now, prices are barely above what he initially paid some 15 years ago. SP says that he's in no hurry to move, as location-wise, it's still at least a very central and convenient project. This will likely be the last condo he buys, however, as if he moves, he will likely downgrade to a resale flat to prepare for retirement. [[nid:719800]] This article was first published in Stackedhomes .
Business Times
8 hours ago
- Business Times
China's US$11 trillion stock market is a headache for both Xi and Trump
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That skew has spawned a host of problems from an oversupply of shares to questionable post-listing practices, which continue to weigh on the US$11 trillion market. The country's leaders are under pressure to fix this. President Xi is counting on domestic spending to reach the 5 per cent economic growth goal, especially as a tariff war with the US heats up over the massive trade imbalance. At the same time, Beijing has reasons to keep prioritising the market's role as a source of capital: the country needs vast funding to nurture companies that underpin its tech ambitions – even if their profitability remains questionable. 'China's capital market has long been a paradise for financiers and a hell for investors, although the new securities chief has made some improvements,' Liu Jipeng, a securities veteran who teaches at China University of Political Science and Law, said in an interview. 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Even with the rise in share buybacks, CSI 300 companies spent only 0.2 per cent of their market value on repurchasing shares in 2024, far less than the nearly 2 per cent spent by S&P 500 firms, according to calculations by Bloomberg. The recent policy push to attract more tech listings is also a worrying sign for some investors. Regulators are resuming the listing of unprofitable companies on the STAR board, dubbed China's Nasdaq, while allowing them for the first time for the Shenzhen-based ChiNext board – which is earmarked for growth enterprises. IPOs so far this year have increased by nearly 30% from the same period in 2024. That's an inevitable move to secure capital for firms that are vital to China's battle against the US for supremacy in AI, semiconductor and robotics, but also signals that authorities may again be putting funding needs ahead of investor protection. 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Business Times
10 hours ago
- Business Times
Modi's tax overhaul to strain finances but boost image amid US trade tensions
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