It’s been more than two months since the Circuit Breaker and Phase 1 have had us holed up in our humble, 99-year leasehold HDB flats. And frankly, we’re bored out of our wits.
Worse, it’ll be awhile yet before social activities, such as clubbing and mass celebrations, can go back to the way it was before Covid-19. So it’s perfect timing that a local creative video producer has conjured some serious gratification for our pent-up restlessness.
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In a 25-second video posted on his Instagram account @dauntlus, Marcus Liew, founder and creative director of production house Dauntlus Studios, transformed a block of HDB flats at Punggol’s Waterway Terraces into a smashing rave party—with a uniquely Singaporean twist featuring Prime Minister Lee Hsien Loong.
Even for non-clubbers, this video is strangely surreal and feel-good. And at the same time, we want to believe that this actually happened. You’ll get what we mean when you watch the vid (with the sound on, please):
Pretty darn awesome, huh?
Speaking to 99.co, the video’s creator said that the inspiration for making this began when “Singaporeans were singing out of their windows for healthcare workers.”
“There were also some internet videos of police in Europe blasting music to both enforce and encourage people to stay in their homes, which I thought was very heartwarming,” said Marcus, who’s in his 20s.
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“So I just took it to the next level and created a rave party, because with 3D you can make your own reality so why not push it?”
For those who’re curious, Marcus released a ‘making of’ video on how the Punggol HDB rave party was created from scratch:
Asked if he’s offended by being labelled as “non-essential”, the engineering student-turned-visual artist told us that “reality is reality”.
“Sometimes what you can offer to society is not relevant at this period of time,” said Marcus. “I believe the outrage has been built from years of societal belief that you’ll never make it as an artist in Singapore.”
Well, is this make-believe HDB rave party relevant? We sure think so. And trust us when we say artists have a place in our society, because otherwise we’d be home staring at our four walls in between our Zoom meetings.
One more thing: Perhaps we can have an actual HDB rave party to celebrate the day when Singapore is Covid-free? We can only hope.
As Singapore gears up for the post-Covid recovery (and also the General Election), Minister of Trade and Industry Chan Chun Seng has reassured Singaporeans that long-term plans such as Punggol Digital District and Greater Southern Waterfront (GSW) “remain sound” in spite of the global recession.
“We will pace the timelines for these projects according to demand. But do not doubt this: We will get them all done,” the minister said.
Well the question is when? And should property agents and developers keep harping on GSW like a broken record?
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A brief background about the Greater Southern Waterfront
The name Greater Southern Waterfront (GSW) was first coined by the government back in 2013. This was to be a project that will transform the Singapore city centre and take it to the next level.
In 2017, the Tanjong Pagar port terminal was cleared ahead of schedule. Property experts took it to mean that the government would set aside land within the GSW to be released sooner than expected. In 2018, the government released some fanciful artist’s impressions of a futuristic-looking GSW. Realtors selling property in the area were quick to show these to clients.
Visuals of the proposed Greater Southern Waterfront in 2013 and 2017. Source: URA, CPG Architects
In 2019, Prime Minister Lee Hsien Loong revealed even more plans during his National Day Rally. “There is enough land here to build 9,000 housing units… HDB and private housing with waterfront promenades, with greenery and open spaces,” said PM Lee, referring to land currently occupied by the Keppel Club golf course that’s part of the GSW.
He added: “With GSW the size of two Punggols, you get a sense of the possibilities. Think of it as Punggol by the Bay!”
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Developers and property agents lapped it all up. Any new development from Tanjong Pagar to Pasir Panjang would have ‘Greater Southern Waterfront’ inserted into the marketing material somewhere. “Tremendous upside” and “first-mover advantage” were the catchphrases repeated ad nauseum.
But perhaps we’ve forgotten something:
Let’s revisit the story of Marina Bay…
A similar thing happened twenty-four years ago in July 1996, when local media painted a glorious picture for the Marina Bay South district.
The Minister of National Development at that time, Lim Hng Kiang, declared that “new office buildings and housing of various styles will front the shoreline” with “some 26,000 waterfront homes in the offing”.
(Not too long after his announcement, the General Elections were called and held in January 1997.)
FYI, this is what our Marina Bay South looks like now, 24 years later, in 2020:
A glance at the satellite image and it’s obvious that not much has changed. Aside from the integrated resorts, Gardens by the Bay, a cruise centre and the under-construction Thomson-East Coast MRT Line, there’s literally nothing there. Housing developments have been few (e.g. Marina One Residences, The Sail @ Marina Bay) and are located near the already developed Shenton Way CBD spine, for obvious reasons.
So far, only four condos with a total of 2,802 units have been built in the Marina Bay area. That’s less than 11% of the “26,000 waterfront homes” envisioned.
And here’s the kicker: If 200 hectares of land with similar attributes to the Greater Southern Waterfront (with arguably superior existing infrastructure) has barely been touched for more than two decades, then what should property buyers make of the GSW, which is more than ten times the size?
Honestly, if we were the government and want to release/develop land in the city, be it tomorrow or two years later, Marina Bay would certainly the first choice and no-brainer. After all, we have to keep our 24-year old promise to Singaporeans, right??
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Should you even be basing your property decision on the Greater Southern Waterfront?
Look, we’re sure the GSW will be a wonderful project… for your children or grandchildren. The thing is, in the Mandarin version of his speech, Minister Chan left out Greater Southern Waterfront altogether when elaborating upon the government’s continued commitment to develop Singapore.
Instead, he told audiences that, emerging from Covid-19, the government will place its emphasis on investing in and completing key infrastructural projects such as the Changi Airport Terminal 5 and Tuas Mega Port. The second focus will be developments that bring jobs and economic opportunities, such as the Punggol Digital District and Sungei Kadut Eco-District.
The GSW, which is a largely about leisure and lifestyle, didn’t even get an honourary mention.
So, if you’re a property buyer or investor looking out for growth areas and don’t have the patience to wait out a large chunk of your life expectancy to see the upside of GSW, here are some other promising locations you might want to take a look at:
Location #1: Kallang Riverside/Kampong Bugis
First announced in 2017, the plan to redevelop the city-fringe areas south of Kallang MRT and Kampong Bugis (between Kallang and Lavender MRT stations) should become reality within the next decade.
At the 17-hectare Kampong Bugis, the government is poised to announce a tender for a master developer that will oversee the building of a “car-lite neighbourhood” with “some 4,000 new homes by around 2030” and “50,000 sq m of space for retail, offices, community uses, serviced apartments, sports and recreational facilities”.
Right across the river from Kampong Bugis, a mini-CBD and entertainment district has been proposed, with office blocks and extensive retail and entertainment amenities part of the plan.
Adding to the excitement is the recent announcement that the Singapore Sports Hub will be further enhanced as a destination for sport and world-class entertainment by 2025. What’s not to like?
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Location #2: Paya Lebar
Not too far away from Kallang Riverside/Kampong Bugis is Paya Lebar, which has been billed as the new CBD of the East. The recent quarter has seen office and retail space in the precinct more than double in area with the completion of two Grade A office blocks of the Paya Lebar Quarter (PLQ) alongside the new PLQ Mall.
According to the URA Master Plan above, this is only the beginning of Paya Lebar’s potential transformation. The area’s developments should put the spotlight on upcoming public and private housing projects in the vicinity, including a planned Government Land Sales (GLS) site at Dunman Road that can yield more than 1,000 condo units.
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Location #3: Bayshore
Leveraging the new Thomson-East Coast line, the URA has plans to transform the sleepy but already upmarket East Coast neighbourhood of Bayshore into a vibrant, car-lite lifestyle precinct that could become the Holland Village of the East.
This transformation will happen on roughly 60 hectares of undeveloped land situated between the upcoming Bayshore and Bedok South MRT stations. Plans include a one-kilometre long “main street” lined with shops, cafes, grocery stores and elderly facilities.
The tree-lined main street will be connected to a network of communal courtyard spaces that resembles modern residential developments in European cities such as Amsterdam and Vienna.
Additionally, 6,000 new HDB flats will form about half of the 12,500 planned residential units in the district. Besides potential sea views and easy access to East Coast Park via a planned pedestrian and cycling “landscaped bridge”, the draw of this area is undoubtably easy access to the airport via East Coast Parkway and the direct connections to the airport/city via the Thomson-East Coast Line.
That being said, it would probably take two full decades for the developments to take shape at Bayshore.
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Location #4: Mount Pleasant
Another area that likely to see development within the next decade is Mount Pleasant. The significance of this location? It’s undeveloped land that’s actually located within the prime District 11, which also covers Newton and Bukit Timah.
Mount Pleasant MRT station is scheduled to open in 2021. In the immediate vicinity of the station, there’s already infrastructure in place to commence development as this was the site of the former Police Academy.
The entire 80-hectare Mount Pleasant area, which also encompasses the completed but yet-to-be-opened Bukit Brown MRT Station on the Circle Line, has been zoned Residential by URA. That said, the district is still subject to further planning and the private-public housing mix is still unclear. Any project there is likely to be low-to-medium density.
What can be certain is that, when a condo new launch or BTO project is announced at Mount Pleasant, Singaporeans will go absolutely nuts. Besides being able to boast about living in prime District 11, this is also a bona fide city-fringe location on the edge of Novena, an established commercial hub that is currently undergoing an evolution into a world-class Medical Hub called Healthcity Novena.
Moreover, the North-South Corridor expressway that will run under Thomson Road will offer Mount Pleasant motorists a seamless (and hopefully jam-free) connection to the city.
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Location #5: Holland Plain
Despite lying just outside prime District 10, Holland Plain will likely be very much sought after by developers and, subsequently, buyers when development of the area begins from 2021 onwards. This 34-hectare site is intended as private residential precinct, and will probably have its very own MRT eventually — a station on the Cross Island Line (CRL).
Despite its significant size, the government has decided to limit the housing at Holland Plain to 2,500 private units, opting to preserve more than 30 percent of the current vegetation and features in the area for a “wetland park and community plain”. “Green routes” will also be designed and implemented throughout this low-density district.
With the limited number of private housing units available in what’s essentially a prime location in a predominantly landed Bukit Timah-Holland estate, we expect investors to make their move regardless of what state the global economy is in at the time.
The Big Question: Should you still buy a property near the Great Southern Waterfront?
All said and done, this is not an article to diss properties in the West Coast area.
Properties stretching from Keppel to Pasir Panjang already boast superb existing geographical attributes without the GSW coming into the equation. The area is considered a thriving business corridor, with one-North/Buona Vista, Science Park, Mapletree Business City, Alexandra Technopark and easy access to the CBD via the West Coast viaduct, which may translate to healthy rental demand.
Recreationally, there’s also no shortage of options in the area, with the Southern Ridges being one of the most authentic and accessible nature spots in the whole of Singapore. Residents also have Harbourfront, Hortpark, West Coast Park and, of course, Sentosa within easy reach.
As the cliché goes, a bird in the hand is worth two in the bush. This should apply to property as well, especially in times of crisis. Be it the Great Southern Waterfront or Bayshore, this article’s intention is to help you be more discerning in your real estate decisions—decisions with such high outlay that you can’t afford to get wrong.
Next time when the powers that be unleashes plans for a mega growth area (e.g. one that would replace the Paya Lebar Airbase), you’ll maintain the zen-like demeanour of a true property master and consider all possible options.
Buying a HDB resale flats comes with its perks–one of it being the generous HDB resale grants you can qualify for.
In 2019, HDB raised the income ceiling for the CPF Family Grant from $12,000 to $14,000 and launched the new Enhanced Housing Grant (EHG), which enable more resale buyers may qualify for housing grants and with a higher maximum grant amount of up to $160,000.
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These changes could mean that HDB resale flats may turn out to be cheaper than a Build-to-Order (BTO) flat after all, even though BTO flats are sold by HDB at a discount. After all, the Family Grant and Proximity Housing Grant are not applicable for BTO flats.
Plus, the key perks of buying a resale flat is an unlimited choice of locations and the fact that resale flats are already completed and ready for moving in. Resale flats also typically has well-developed amenities, such as schools and eateries, surrounding it.
Now, it’s time to know your HDB resale grants. This article will cover:
Types of HDB resale grants
For first-timer applicants, including couples/families, singles, and newly married singles with an existing flat
For second-timer applicants
How to resale grants work (the application process etc.)
How to find your ideal resale flat
And we’ve created a chart to help you determine the grant amount you’ll get as well, if you’re a first-timer. Scroll down to see it.
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Types of HDB Resale Grants
Get ready, it’s quite a long list. (There’s a handy infographic below, too.)
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FOR FIRST-TIMER APPLICANTS
To be considered a first-timer applicant, you must:
not be the owner of a HDB flat
not have sold a HDB flat
not have received any CPF Housing Grants or subsidies, be it to buy an Executive Condominium (EC) unit, Design, Build and Sell Scheme (DBSS) flat or an HDB resale flat.
not have transferred ownership of a flat bought directly from HDB, or any HDB resale flat bought under the CPF Housing Grant Scheme
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For Couples/Families
Family Grant (FG)
How much:
$50,000 if buying a two- to four-room HDB resale flat
$40,000 if buying a five-room or larger HDB resale flat
Income ceiling:To qualify for the Family Grant, the buyers’ household income must not exceed $14,000. The exception is when applying to live with extended families; for this, the income ceiling is $21,000. The higher grant amount is to encourage older couples or working adults to live with their extended families–including siblings and parents.
Note: The income ceiling for this and other grants is calculated by taking the monthly average of your total household income for the past 12 months.
Who can qualify for the Family Grant:
Married/engaged couples or families who are first-timer applicants buying an HDB resale flat, and do not exceed the income ceiling
If one party is a Singaporean Permanent Resident (SPR), they will receive $10,000 less (i.e. $40,000 for two- to four-room; $30,000 for five-room or larger)
Additional criteria:
Remaining lease of flat must be 20 years or more
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Enhanced CPF Housing Grant (EHG)
How much:
A maximum of $80,000
Income ceiling: To qualify for the Enhanced Housing Grant (EHG), the buyers’ household income must not exceed $9,000. This is also a tiered grant, meaning that the lower your income, the higher the EHG amount you may be eligible for.
(To know how much in EHG you can get for a specific household income, see our infographic below.)
You can qualify for the EHG if if you meet all of the following criteria:
You are already receiving the Family Grant but wish to receive additional grants, and do not exceed the EHG income ceiling
At least one of the applicants must have worked continuously for the 12 months prior to the flat application and still be working at the point of the flat application
Additional criteria:
Remaining lease of flat must be 20 years or more, otherwise, the grant amount may be reduced accordingly on a pro-rated basis
Even if the remaining lease of flat is above 20 years, the flat must have sufficient lease to cover the youngest buyer and spouse/fiancé(e) to the age of 95. Otherwise, the EHG will be pro-rated.
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Proximity Housing Grant (PHG)
How much:
$20,000 if living near your parent’s/children’s home (within 4km)
$30,000 if living with their parents/children in the same resale flat
Income ceiling:Good news, the PHG has no income ceiling restrictions!
Additonal criteria:
Applicants for this grant must not have previously received the PHG
Here’s the breakdown for HDB resale grants in a handy infographic:
(Click/tap to enlarge.)
You can use the infographic to find out, at a glance, how much in HDB resale grants you may be eligible for. Here’s an example:
Let’s say you and your spouse are first-time applicants, and would like to buy a 5-room HDB resale flat near your parent’s home. With one child and a baby on the way, living near your parents will give you a peace of mind. You will receive:
$20,000 in PHG, as you are living within 4km of your parent’s but not with them.
You are earning $5,000/month, and your spouse is earning $3,500/month. The average gross monthly household income is $8,500. This means:
You have met the income ceiling and are therefore eligible for the Family Grant. As you are purchasing a 5-room flat, you will receive $40,000 in Family Grants.
You have also met the income ceiling and are eligible for the EHG. According to the $8,500 household income, you will receive $10,000 in EHG Grants.
In this scenario, you’re eligible for a total of $70,000 in HDB resale grants. Not bad!
[Psst, there’s more about BTO/resale grants for couples in this article, which includes a flowchart to help you see what grants you may be eligible for.]
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For Singles
First of all, you need to be aged 35 and above to buy a HDB flat as a single.
Singles Grant
How much:
$25,000 if buying a two- to four-room HDB resale flat
$20,000 if buying a five-room or larger HDB resale flat*
*Singles applying under the Single Singaporean Citizen Scheme will not qualify for the Singles Grant if the flat size exceeds a five-room flat (e.g. an executive flat)
Income ceiling:
To qualify for the Singles Grant, your average household income for the past 12 months must not exceed $7,000 if buying under the Single Singaporean Citizen Scheme (or $14,000 if buying under other schemes such as Joint Singles Scheme)
Income ceiling:To qualify for the Enhanced Housing Grant (EHG) for Singles, the buyer’s household income must not exceed $4,500. This is also a tiered grant; the lower your income, the higher the EHG amount you may be eligible for.
You can qualify for the EHG for Singles if you meet all of the following criteria:
You are already receiving the Singles Grant but wish to receive additional grants, and do not exceed the EHG for Singles income ceiling
You must have worked continuously for the 12 months prior to the flat application and still be working at the point of the flat application
Additional criteria:
You must also meet the criteria for the Half-Housing Grant or the Top-Up Grant
Remaining lease of flat must be 20 years or more, otherwise, the grant amount may be reduced accordingly on a pro-rated basis
Even if the remaining lease of flat is above 20 years, the flat must have sufficient lease to cover you, the sole owner, to the age of 95. Otherwise, the EHG will be pro-rated.
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Proximity Housing Grant (PHG)
How much:
$10,000 if living near your parent’s/children’s home (within 4km)
$15,000 if living with their parent’s/children in the same resale flat
Income ceiling:Good news, the PHG has no income ceiling restrictions!
Additional criteria:
Applicants for this grant must not have previously received the PHG
Previously received a grant as a single but got married? HDB lets you top up your grant!
Top-Up Grant
How much:
The amount of the Family Grant amount you are eligible for currently, minus the Singles Grant amount you had previously received
Income ceiling:
The combined income of the household must not be more than $14,000 a month, based on the average income for the past 12 months*.
*Exception: For Singapore Citizen/Singapore Permanent Resident (SC/SPR) households with the SPR spouse now obtaining Singapore Citizenship status, they are eligible for a Citizen Top-Up Grant of $10,000 with no maximum household income restrictions, although they are subject to other criteria.
You can qualify for the Top-Up Grant if you meet all of the following criteria:
You have previously received the CPF Housing Grant for Singles, CPF Housing Grant for Singles (Living with Parents)(referred to as the “higher-tier Singles Grant”)(the CPF Housing Grant for Singles and the higher-tier Singles Grant collectively referred to as the “Singles Grant”) and CPF Housing Grant for Singles with Proximity Housing Grant
You marry a Singapore Citizen (SC) or Singapore Permanent Resident (SPR), or your non-citizen spouse or child/children obtains SC or SPR status, or you and your non-citizen spouse has a SC/SPR child
$25,000 if buying a two- to four-room HDB resale flat
$20,000 if buying a five-room or larger HDB resale flat
Income ceiling:The combined income of the houshold must not be more than $14,000 a month, based on the average income for the past 12 months.
For who?
For couples where one spouse/fiancé/fiancee is a second-timer
This is basically half the amount of the Family Grant. It’s reserved for first-time applicants whose spouse/fiancé/fiancee has previously received a housing subsidy. Like the Family Grant, the average monthly income should not exceed $14,000 or, for those applying to live with extended families, $21,000.
The maximum amount of HDB resale grants you can get is $160,000.
With the three main grants – Family Grant, EHG and PHG – available for resale flats, you may be eligible to receive a total of $160,000. Pretty impressive, huh?
In comparison, the typical BTO applicants will be eligible for a total maximum of $80,000 in grants, as they may only be eligble for the EHG. BTO applicants do not qualify for the the Family Grant or the Proximity Housing Grant.
And if you are wondering why such a large gap, it is because resale flats are sold at market value, whereas BTO flats are sold by HDB at a discount amount. The discount is mainly due to the additional waiting time involved for a BTO flat to be built.
For certain locations and towns, if you factor in the higher HDB grants available for a resale flat, the cost of buying HDB resale can be even lower than a BTO flat. (Of course, the catch is that HDB resale flats have a lower remaining lease, whereas BTOs come with a fresh 99-year lease.)
How do HDB Resale Grants work?
Submitting the applications for HDB resale grants come after you’ve found a flat you like. Once you and the sellers have agreed on the asking price, and have submitted the Option to Purchase, you will then need to submit a resale application via the HDB Resale Portal (your agent may assist you).
On your resale application, you’ll be asked to specify which CPF Housing Grants you are applying for and to submit supporting income documents.
Once approved, housing grants are disbursed to your CPF Ordinary Account (CPF-OA) to pay for your HDB resale flat upfront. The grant amount is first used to cover any outstanding downpayment of the flat, before being used to reduce the amount you need to loan.
But here’s the catch. When you eventually sell the flat you received these grants for, you will need to return them, as well as a 2.5% per annum interest for every year you’ve had your flat.
Now that you’re all caught up with HDB resale grants, it’s time to start looking for a home. Property portal 99.co has a number of search filters to help you with your search:
Travel Time lets you narrow down listings by travel time. If you hate commuting or want to find the sweet spot in between up to three locations, use this to find your ideal resale flat.
Radius Filter lets you search for listings within 4km of an address. This is helpful if you want to qualify for the Proximity Housing Grant (PHG).
School Filter lets you see listings with 1km of any primary school in Singapore.
Video Viewing lets you see listings that are available for online viewings; you can view potential flats without having to leave the house—a must-have for home-searching during the Covid-19 pandemic!
