HDB Build-to-Order in Prime Area face 10 Years MOP and subsidy crawback

To keep HDB flats prices affordable. Additional subsidy for prime and Central region

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** Image above: First BTO under the PLH model – Rochor November 2021 Launch. PHOTO: HDB

Singapore BTO – New Prime Location Public Housing (PLH) Model announced by National Development Minister Desmond Lee on Tuesday (26 Oct 2021). PLH model implemented to keep Public HDBs affordable in Prime location and to ensure buyers are genuinely buying flat to live in, instead of hopping to flip it for a windfall.

 

Source: HDB
Source: HDB

Things to note about the new model?

  1. Minimum Occupation Period : 10 YEARS
  2. After MOP selling in resale market: 1 of intended buyer must be a Singapore citizen and monthly household income does not exceed $14,000.
  3. Additional subsidies to be provide on top of current subsidies (subject to eligibility).
  4. Additional subsidies will be claw back when resale for the 1st time in the open market: Seller(s) will need to pay a percentage of the resale price to HDB. Does not apply to reselling the flat on the 2nd time onwards. Percentage to be announced during November launch 
  5. Singles above 35 year old will not be allowed to buy even for resales.
  6. Rental of whole flat are not allowed at any point in time, even after MOP of 10 years.
Source: HDB

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