Latest news with #EnhancedCPFHousingGrant
Yahoo
13-02-2025
- Business
- Yahoo
8 Things You Need to Know About the Feb 2025 BTO and SBF Launches
Singapore's public housing market just saw a major boost with the launch of 10,622 flats in the Feb 2025 BTO launch and SBF exercise. With a mix of Standard, Plus, and Prime flats spread across key locations, this launch offers exciting opportunities for homebuyers. Here's everything you need to know. If you're eager to move into your new home quickly, this round of BTO flats offers shorter waiting times: 8 in 10 BTO flats have waiting times of 4 years or less. The fastest project, Chencharu Vines and Chencharu Green in Yishun, has a waiting time of just 37 to 38 months (just over 3 years). Alternatively, 4 in 10 flats in the SBF exercise are already completed, allowing buyers to move in almost immediately. The February 2025 launch includes a mix of Standard, Plus, and Prime flats, catering to different needs and budgets: Classification BTO Project Location Standard Chencharu Green Yishun Chencharu Vines Yishun Woodlands North Verge Woodlands Plus Stirling Horizon Queenstown Prime Tanjong Rhu Parc Front Kallang/Whampoa Prime and Plus flats come with additional government subsidies to ensure affordability. However, they also come with longer Minimum Occupation Periods (MOP) of 10 years and subsidy recovery requirements upon resale (8% for Plus flats, 9% for Prime flats). With HDB's significant market discounts and the Enhanced CPF Housing Grant (EHG) of up to $120,000, first-time buyers can get their dream home at competitive prices. Here's a look at the starting prices after grants: Location Flat Type Price (After EHG) Comparable Resale Price Woodlands North Verge (Standard) 2-Room Flexi From $20,000 ~$368,000 - $408,000 3-Room From $170,000 ~$500,000 - $530,000 4-Room From $285,000 ~$615,000 - $728,000 Chencharu Green (Standard) 3-Room From $140,000 ~$470,000 - $515,000 4-Room From $236,000 ~$560,000 - $638,000 Stirling Horizon (Plus, Queenstown) 3-Room From $318,000 ~$600,000 - $720,000 Tanjong Rhu Parc Front (Prime, Kallang/Whampoa) 3-Room From $309,000 ~$760,000 - $838,000 Key takeaway: Even in mature estates like Queenstown and Kallang/Whampoa, prices are significantly lower than resale flats. This round also marks the largest SBF exercise ever, offering 5,590 balance flats spread islandwide. A significant 40% of these are already completed, making them a great option for those who need a home urgently. 2-Room Flexi (99-year lease): From $6,000 3-Room Flat: From $29,000 4-Room Flat: From $139,000 5-Room Flat: From $286,000 Singles will now have more opportunities to buy a 2-room Flexi flat with 2,759 units available in this round. Under the new classification framework, singles can apply for these flats across all project types, including Plus and Prime locations. To improve certainty for applicants, HDB is now: Shortlisting only 200% of the total flat supply (down from 300%), reducing the number of applicants left without a queue number. Enforcing stricter rules — applicants who do not book a flat after receiving a queue number will not be allowed to apply in future BTO/SBF exercises until their flat booking appointment has passed. This means more transparency and better chances for genuine buyers. Flat applications are open online via the HDB Flat Portal from 10 to 17 February 2025. Applicants must have a valid HDB Flat Eligibility (HFE) letter before applying. If you miss out on this round, the next BTO launch will be in July 2025, offering about 5,400 flats across Bukit Merah, Bukit Panjang, Clementi, Sembawang, Tampines, Toa Payoh, and Woodlands. Navigating the property market can feel overwhelming, but it doesn't have to be. Ohmyhome makes property transactions seamless. As a one-stop property platform, we provide end-to-end services powered by our Super Agents, proprietary tech tools like HomerAI and MATCH, and data-driven insights to ensure you make the right move at the right time. Sell higher and faster: 73% of homes sold above market value, 97% within 90 days. AI-powered home insights with HomerAI: Get real-time property valuations, track market trends, view recent transactions, and calculate cash proceeds for smarter decisions. Personalised support & community: A dedicated Relationship Manager and Super Agent will guide you every step of the way, ensuring a smooth and stress-free experience.
Yahoo
06-02-2025
- Business
- Yahoo
Singapore to spend S$7b on marriage and parenthood initiatives in FY2026
SINGAPORE, Feb 6 — The Singapore government will allocate S$7 billion (RM22.93 billion) towards marriage and parenthood initiatives in the 2026 financial year, the Straits Times (ST) reported today. This represents a significant increase from the S$4 billion spent in 2020. Minister in the Prime Minister's Office, Indranee Rajah, shared the projection during a parliamentary session yesterday. She explained that the funding boost stems from recent policy reforms aimed at strengthening the early childhood sector and expanding parental leave entitlements. Despite global trends of declining family formation and fertility rates, Rajah emphasised that Singapore continues to prioritise its families. The S$7 billion is in addition to other government subsidies for sectors like education and housing, further cementing the government's commitment to fostering a supportive environment for family life. Indranee pointed out that while the decision to marry and have children is deeply personal, surveys show that most Singaporeans aspire to start families, which offers a hopeful outlook for the future. Over the past five years, the Singapore government has implemented a series of bold policy shifts aimed at improving the marriage and parenthood landscape. These include a new shared parental leave scheme, announced at the 2024 National Day Rally, which will grant parents an additional 10 weeks of paid leave, costing S$400 million annually by 2026. Housing has also been a key focus. Indranee noted that, despite the challenges posed by the Covid-19 pandemic, construction delays have been overcome. The government has exceeded its target of launching 100,000 Build-to-Order (BTO) flats between 2021 and 2025. Looking ahead, the government is committed to meeting ongoing housing demand with the release of over 50,000 flats between 2025 and 2027. According to ST, the parliamentary debate saw over 20 MPs call for continued updates to policies that support marriage and parenthood, with many proposing additional housing subsidies and financial support for families. Indranee acknowledged these concerns, highlighting enhanced subsidies such as the Enhanced CPF Housing Grant, which offers up to S$120,000 for first-time BTO buyers and up to S$230,000 for resale flats. On the financial support front, the Singapore government will increase the MediSave Grant for Newborns from S$4,000 to S$5,000 in April. Additionally, parents will continue to benefit from the Baby Bonus Scheme, receiving up to S$25,000 for their first child and up to S$38,000 for subsequent children. A new scheme to assist large families will also be unveiled in the upcoming Budget.
