Written answer by Ministry of National Development on whether increase in housing grants will lead to higher HDB resale flat prices

Sep 9, 2024

Question No: 6480

Question by: Ms Foo Mee Har

To ask the Minister for National Development whether the increase in total housing grants to $230,000 for eligible first-timer families who buy a resale HDB flat will lead to higher resale prices of HDB flats as sellers may demand more in light of the increased support.

Answer:

The Enhanced CPF Housing Grant is means-tested, progressive, and targeted. The latest round of enhancements is tiered such that lower-income first-timer households will receive more support. This reduces the risk of fueling the wider resale market. Furthermore, sellers may not be able to size up the grant amount that flat buyers receive, as HDB does not share the personal information of flat buyers with flat sellers, including the grant amounts that buyers are entitled to.