28 Aug '13, 8am

New: Singapore Property News This Week #118

The government will be extending a variety of grants for lower and middle-income households to allow them to pay off their flats in 25 instead of 30 years. The Special CPF Housing Grant (SHG) for lower and lower-middle-income first-timers will be extended from two-room and three-room flats to include four-room flats. In his annual National Day Rally speech, Prime Minister Lee Hsien Loong said that middle-income households will also benefit, while a middle-income household can get up to $20,000 more if they buy a new flat. Currently, the SHG is given on top of the Additional CPF Housing Grant for eligible first-timer families applying to buy a two-room or three-room standard flat in a non-mature estate. After the enhancements, homebuyers using their CPF funds to pay their loans should be able to pay off their flats in 25 years instead of 30. Hence, their income in later yea...

Full article: http://www.propwise.sg/singapore-property-news-this-week-...

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