More low-income households buying flats with Govt grants

More low-income households buying flats with Govt grants

SINGAPORE - MORE low-income households are stepping forward to purchase a flat with the help of a Government grant, amid the ramp-up in supply.

Some 13,325 households received aid of up to $40,000 under the Additional Housing Grant (AHG) last year, compared to 1,762 when it began in 2006.

Overall, some 58,845 households have received a leg-up for both resale and new flats, to the tune of $1.11 billion, said the Housing Board yesterday.

The AHG is one of two schemes to help low-income Singaporean households - earning less than $5,000 - secure a HDB flat, although the amount disbursed depends on the income level.

The other, dubbed the Special Housing Grant, which gives up to $20,000, also saw a strong take-up last year.

Some 762 applicants signed up for it last year, compared to 248 when it was introduced in March 2011. As of April this year, $13.15 million had been given out under the SHG.

International Property Advisor director Ku Swee Yong said it was no surprise that that so many households had applied, given that property is viewed by many as an appreciating asset.

"Another contributing factor," he added, "was the fact that HDB has been aggressively pushing out more flats to meet demand, which has accumulated in recent years."

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