Plus flats, which will come with tighter resale conditions, are expected to be in locations near MRT stations or town centres.
SINGAPORE: New Housing and Development Board flats in “choicer locations” in each region will be classed in a new Plus category, which will come with tighter resale conditions and more subsidies.
With little undeveloped land left to build new towns and estates, HDB will build more flats within or near to existing estates, Mr Lee said. The new Plus flats will be in “choicer locations” within each region, such as near MRT stations and town centres. One example is the upcoming Bayshore project near East Coast Park which is close to two MRT stations, a future shopping mall and Siglap Community Club.
Mr Lee said that developments like Central Weave in Ang Mo Kio posed a dilemma for HDB. The BTO project made headlines for its high prices ranging from S$713,000 to S$877,000 for the five-room and 3-Gen flats, before grants. “But if HDB prices such flats lower … we exacerbate the lottery effect, because the potential windfall gains will be even richer. Even more families will try for these flats,” said Mr Lee.
Flats in Prime BTO projects, located in the central region, will have the same conditions as flats under the current Prime Location Housing scheme, which was introduced in November 2021.
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