Amidst the lacklustre residential marketplace in Singapore, strong sales in the biggest cities in China has improved the earnings ofContinue reading »
The Ministry of National Development (MND) revealed yesterday the details of the Fresh Start Housing Scheme, which aims to provide homes for second-timers, or families that formerly appreciated one housing subsidy but currently live in public rental flats.
Underneath the scheme, eligible families with school-going children will each have the ability to purchase a two-room Flexi level in a Build-to-Order (BTO) or Sale of Balance Flats (SBF) sales exercise.
These units will come with short rentals which range from 45 to 65 years to keep costs affordable. They will also provide a longer Minimum Occupation Period (MOP) of 20 years to make sure their ownersâ kids could have homes to get a longer period.
People who Treasure Crest qualify will likely be given another HDB concessionary loan, no matter the number of preceding loans they’ve got from the Housing Board. They’ll even be able to utilize their CPF contributions as down payment, or to service the monthly mortgage instalments.
The Fresh Start Housing Scheme, that will be executed in late 2016, is open to widowed, divorced or married parents aged 35 to 55. Each household must possess at least one Singaporean parent, with at least one Singaporean child below age 16 to qualify. Without collecting three or maybe more months of rental arrears in addition, they have to have inhabited a public rental flat for at least two years.
The LSA needs to be renewed every year for participating families to receive the yearly portion of these grantsâ balance.
The Tenantsâ Priority Scheme continues to be extended to second-timer families residing in public rental flats, in order to give them greater priority when putting in an application for a HDB flat.
Formerly, only first-timers surviving in public rental units qualified.Continue reading »