Is the average resale levy more or less than the average housing grant?
I refer to the article “11,000 households get government grant in buying resale flats near parents or children” (Straits Times, Feb 11).
It states that “About $211 million in PHG has been disbursed to the 11,000 families, HDB said”.
So, does it mean that the average grant is $19,182 ($211 million divided by 11,000)?
What is the average housing grant given compared to the average resale levy?
The resale levy ranges from $30,000 to $55,000 for flats purchased after 3 March 2006, and 20 to 25 per cent of the resale price before 3 March 2006, for 3-room and larger flats for households.
As an analogy – if the sole property developer in a country tells you that they will give you an immediate discount when you buy, but you may have to pay a higher penalty when you sell to buy another flat – would you buy under such terms and conditions?
Leong Sze Hian