During his Budget speech on Feb 16, Deputy Prime Minister and Finance Minister Lawrence Wong announced that young families waiting for keys to their Build-To-Order (BTO) flats will soon receive up to a year of financial assistance for renting an HDB flat from the open market.
The enhancement to the existing Parenthood Provisional Housing Scheme (PPHS), which provides subsidised HDB rental flats to families with urgent housing needs, means that more young couples can confidently expect to secure a temporary home amid high application rates.
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