Budget 2024: Couples waiting for BTO flats eligble for one-year voucher to rent HDB flat in open market

In a promising move to alleviate the housing woes of young families awaiting the keys to their dream homes, the government is rolling out additional assistance through the Parenthood Provisional Housing Scheme (PPHS). Finance Minister Lawrence Wong, in a compelling announcement during his Budget speech on Friday (Feb 16), revealed that eligible young families will soon receive a one-year PPHS voucher.

This voucher will empower these families to secure a Housing Development Board (HDB) flat in the open market while they eagerly anticipate the completion of their Build-To-Order (BTO) flats. While the exact dollar amount of the voucher remains a suspense, the intent behind this initiative is crystal clear—to offer tangible support to couples who have already booked their BTO flats, ensuring they have a temporary abode to call home, particularly crucial for those blessed with the pitter-patter of young feet.

Finance Minister Wong underscored the significance of this initiative, acknowledging that some couples, driven by the excitement of securing their dream homes, might find themselves in need of interim accommodation. “This is especially the case for those with young children,” he emphasized.

As the Housing Development Board (HDB) actively caters to the surge in demand for subsidised rental housing through the PPHS, the government’s commitment to addressing the immediate housing needs of young families is unmistakable. Minister Wong reassured the public that while HDB is working tirelessly to boost housing supply, the government is determined to go the extra mile, bridging the gap and supporting young families in their quest for housing security. This progressive move exemplifies the government’s dedication to ensuring that the journey to homeownership for young families is not only exciting but also accompanied by the unwavering support of the state.