SINGAPORE: While flats that will be offered under the new Plus category in next week’s Build-To-Order (BTO) sales exercise are bolstered by attractive locations, demand could still be tested by key details that remain unknown until closer to the launch.
These include pricing and the subsidy clawback rates, industry watchers said.
The Housing and Development Board (HDB) on Wednesday (Oct 9) announced it will launch 8,573 new flats across 15 projects under the new Standard, Plus and Prime classification in the upcoming BTO sales exercise.
Seven are projects under the Plus category, one in Prime and another seven Standard projects.
In general, Prime and Plus flats have superior locational attributes. They are priced with more subsidies to ensure affordability but will also come with stricter resale rules like a 10-year minimum occupation period and subsidy clawbacks. The clawback for Plus flats is lower than for Prime flats, in line with the smaller subsidy amount.
Meanwhile, standard flats have the same subsidies and restrictions currently applied to all BTO flats, such as a five-year minimum occupation period.
Authorities said these classifications and conditions of the BTO projects will be made known at the launch for buyers to make informed decisions.fortune play
