SINGAPORE - The Fresh Start Housing Scheme will provide a grant of up to $35,000 for families with young children living in rental housing, Finance Minister Heng Swee Keat said in his Budget speech on Thursday (March 24).
The scheme was first announced by Prime Minister Lee Hsien Loong at last year's National Day Rally.
Some had previously bought a flat, but sold it and moved into public rental flats, making them ineligible for first-timer housing grants.
The scheme will provide a grant of up to $35,000 for these families with young children to own a two-room flat with a shorter lease.
"For those who are determined to work hard to own a home again, we want to give them a fresh start," Mr Heng said.
However, these families must demonstrate effort, he added. For example, they must stay employed and make sure their children attend school.
More details will be announced by the Ministry of National Development during the Committee of Supply debate next month.