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      REVISED CPF HOUSING GRANT SCHEME
 To help lower-income families become homeowners, the Government introduced the Additional CPF Housing Grant (AHG) Scheme on 3 Mar 2006. The AHG has provided lower-income families with an additional housing subsidy of between $5,000 and $20,000 to buy their first HDB flat, which may be a new HDB flat or a resale unit. As at 31 Jul 2007, about 3,300 lower-income families have benefited from the AHG.

 
More Subsidy for Lower-Income Families

2         As announced by the Prime Minister at his National Day Rally speech on 19 Aug 2007, the Additional CPF Housing Grant (AHG) Scheme would be enhanced to provide more subsidy to lower-income families to help them buy their first HDB flat.

3         The enhanced AHG Scheme will take effect from 24 Aug 07. The income ceiling for AHG will be raised from $3,000 to $4,000, whilst the maximum grant will be raised from $20,000 to $30,000. The details of revised grant are as follows:

 
Average Monthly Household Income over the last 2 years
Current Additional CPF
Housing Grant Quanta
Revised Additional CPF
Housing Grant Quanta
$1,500 or less
$20,000
$30,000
$1,501 - $2,000
$15,000
$25,000
$2,001 - $2,500
$10,000
$20,000
$2,501 - $3,000
$5,000
$15,000
$3,001 - $3,500
-
$10,000
$3,501 - $4,000
-
$5,000

4         The enhanced scheme is expected to benefit an additional 1,300 first-timer households annually, bringing the total number of benefiting households to an estimated 4,000 per year.

 
Implementation Details

5         As with the existing scheme, at least one of the flat buyers must have worked continuously for a minimum of two years when they apply to buy the flat. Upon the sale of the flat, the AHG will have to be reinstated to the recipient’s CPF account, in accordance with prevailing CPF rules.

6         The revised AHG will be effective from 24 Aug 2007. It will be applicable for the purchase of flats as follows:

 
Category of Flats
Purchase of New Flats
Booking of Flats on or after 24 Aug 07
Purchase of Resale Flats
Resale Application received by HDB on or after 24 Aug 07


 
Enquiries


7         For enquiries, the public can call the following toll free lines :

(a) Sales/Resale Customer Service Line : 1800 8663 066
(b) SERS Enquiry Line : 1800 8663 070
(c) Branch Office Service Line : 1800 2255 432
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