The Additional Housing Grant (AHG) enhancement has been firmed up in Parliament by Minister of National Development Mr. Mah Bow Tan in his speech. The new AHG is as of the following new structure:-
As mentioned in my previous Singapore Budget blog entry, each level notch gets the upgrade of the old AHG with the correct estimation. The goodies are:-
- Income ceiling has increased from $4,000 to $5,000, meaning more people will be eligible for AHG.
- Maximum grant quantum has been increased from $30,000 to $40,000.
- More people will benefit from a reduction of 2 years continuous employment to 1 year.
AHG can be used for sale of new flat/ DBSS as well as resale flats as of last time with no changes on this aspect.