1. New public housing flats are highly subsidised


Build-to-Order (BTO) flats are highly subsidised. They are several times cheaper than private condominiums in same area.


Buyers can choose from a wide range of options – from 2-room Flexi flats to 3Gen flats – to suit their different needs.


2. There are grants for first-time home buyers


First-timer families looking to buy a new flat can enjoy grants of up to $80,000, on top of significant market discounts. Those looking to buy a resale flat can enjoy grants of up to $120,000.


First-timer singles can get grants of up to $40,000 (for BTO flats) or $60,000 (for resale flats).


3. You can pay for your flat without any cash outlay


About 80 per cent of first-time homebuyers are able to pay their monthly mortgage instalment fully with CPF. This means that they do not pay any cash out-of-pocket.


4. Every flat will be upgraded twice


To keep all HDB flats safe and liveable, there will be one round of upgrading when your flat is about 30 years old through the Home Improvement Programme (HIP), and a second round when your flat is about 60-70 years old through HIP II. The upgrades will address common maintenance issues such as repairing spalling concrete.


Apart from upgrading, the Government will redevelop old estates through the Voluntary Early Redevelopment Scheme (VERS) to ensure they remain vibrant places to live. Residents offered VERS will vote as a precinct on whether they wish to return their flats to the Government. They will be compensated for their flats.


5. Multiple ways to unlock the value of your flat


For older homeowners, there are several ways to monetise your HDB flat. Firstly, you can receive cash monthly by renting out your bedroom(s) or entire flat.


Secondly, under the Lease Buyback Scheme, you can sell part of your flat’s remaining lease to get a lump sum cash and monthly payouts in cash, for life.


Thirdly, you can sell your current flat, and buy a smaller flat or a flat with a shorter lease.  


Those moving from a larger flat to a 3-room or smaller flat can consider taking up the Silver Housing Bonus, to receive up to $20,000 in cash.


For more information, go to www.hdb.gov.sg