Additional CPF Housing Grant To Be Improved: Mah Bow Tan

Source : The Straits Times, Aug 4, 2007

THE Housing and Development Board (HDB) is looking into improving the Additional CPF Housing Grant to offer more help to more households.

National Development Minister Mah Bow Tan made the announcement on Saturday at the Tampines East National Day dinner.

The grant, introduced early last year, was to provide lower income first-time flat buyers with up to $20,000 in additional subsidy to help them buy their first HDB flat.

HDB also resumed building new two-room flats to keep home ownership within the reach of Singaporeans, including the lower income households, said Mr Mah.

He added that moving forward, the Government can and will do more to put in place more options to help citizens unlock the value in their HDB homes.

Currently, flat owners can do so by selling their flats and moving to a smaller unit or studio apartment.

The proceeds can then go towards meeting their retirement expenses.

Mr Mah also spoke about how HDB flat owners have benefited from enhancements in flat value through the upgrading of HDB estates.

He said the Government's on track to complete Lift Upgrading for all eligible blocks by 2014.

The town councils have also been working hard to put in place ramps and other improvements in the estates.

This is so that the growing number of elderly residents can move within the estates with greater ease.