Young couples to enjoy lower Initial down payment for HDB flats

The government has reduced the initial down payment to 2.5% of the flat price.

To help more young couples secure HDB flats, the government has introduced enhancements to the Staggered Downpayment Scheme (SDS).

Young couples now need to only pay an initial down payment of 2.5% of the flat price, whether they choose to take an HDB housing loan or a loan from a financial institution.,

Previously, those taking an HDB housing loan had to pay 5% of the flat price, whilst those taking a loan from financial institutions paid 10% of the flat price.

“This means for those taking HDB loans, from 5% to 2.5%. For those taking loans from banks, from 10% to 2.5%,” Minister for National Development Desmond Lee said.

“These couples will pay the balance down payment at the key collection when they are in a better position to do so,” Lee added.

The enhanced SDS for young couples will take effect in the next sales launch in June.

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Ministry of National Development

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