Written Answer by Ministry of National Development on number of applications and quantum of cash bonus disbursed under Silver Housing Bonus Scheme in past five years

Jul 4, 2022

Mr Don Wee: To ask the Minister for National Development in each of the past five years, what is the number of applications and quantum of cash bonus disbursed under the Silver Housing Bonus scheme.

Answer:

1          The number of households that took up the Silver Housing Bonus (SHB) scheme, and the total cash bonuses disbursed under the SHB scheme in each of the past five years is in Table 1.

Table 1: Take up and Total Cash Bonuses Disbursed under SHB scheme from 2017 to 2021

*Note: The SHB scheme was simplified and enhanced in Mar 2020. The enhancements include: 1) removal of the requirement to make a second top-up to their CPF Retirement Account, 2) removal of the requirement that seniors must be selling a larger flat. Households can now qualify for the SHB, as long as they buy a 3-room or smaller flat, and have proceeds from the move, and 3) the maximum bonus quantum was increased to $30,000, from $20,000.