First-time families will receive more support to purchase their Housing and Development Board (HDB) flats, whether it’s a build-to-order (BTO) or a resale flat, announced Finance Minister Lawrence Wong at the Budget 2023.<o:p></o:p>

The move comes in a bid to support young couples better and help them realise their housing aspirations.<o:p></o:p>

While the HDB has already set aside a bulk of BTO flats for first-time families, this is a “wide range”, notes Wong.<o:p></o:p>

Moving forward, first-time families, that is, young married couples aged 40 years and below, will receive an additional ballot for their BTO applications. This will be implemented later in 2023, says Wong.<o:p></o:p>

First-time families looking to purchase resale flats will now receive higher CPF housing grants.<o:p></o:p>

The housing grants will be increased to $80,000 from $50,000 previously for those looking to buy four-room flats or smaller.<o:p></o:p>

<span class='see_also_inread'><b>See also: <a class='gtm_see_also_1_inread' style='text-decoration: underline;' href='/news/budget-2023/budget-2023-offers-near-term-help-maintains-fiscal-discipline-and-active-wealth?utm_source=website&utm_medium=article&utm_campaign=ONPAGESEO'>Budget 2023 offers near-term help but maintains fiscal discipline and active wealth distribution</a></b></span>

Grants will be increased to $50,000 from $40,000 previously for those looking to buy five-room flats.<o:p></o:p>

In all, eligible families will be able to receive up to $190,000 in grants when purchasing their first resale flat, says Wong. <o:p></o:p>

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