About 4,500 flats and two new projects under the Prime Location Public Housing (PLH) model will be launched in the May 2022 Build-to-Order (BTO) exercise as HDB plans to launch up to 23,000 new flats this year in a bid to ease the housing crunch in Singapore. The Bukit Merah projects originally planned for launch in May 2022 will be shifted to August 2022 to allow more time to review the project and to better spread out the location of projects in mature and non-mature estates at each launch.
There will be a good mix of new flats coming up in five towns - Bukit Merah, Jurong West, Queenstown, Toa Payoh and Yishun. The increased supply of flats will provide more housing options for young couples planning to start their marriage and parenthood journey, as well as for second-timer families, multi-generation families, the elderly, and singles.
There will be 2 PLH BTO projects in the mature estates of Bukit Merah and Queenstown, said the Housing and Development Board (HDB) on 23 May (Monday). As expected, there will be no 5 room flats avail in both projects as all 1,660 units in Bukit Merah and 860 units in Queenstown will comprise 3-room and 4-room flats.
Flats under the PLH model come with stricter buying and selling conditions, including a 10-year minimum occupation period and a subsidy clawback at the first resale transaction.
Buyers who want one of these flats on the resale market in future will also have to meet the prevailing eligibility conditions for buying a flat directly from the HDB . These include having at least one applicant who is a Singapore citizen, meeting the household income ceiling of $14,000 and not holding a private property or sold any in the last 30 months.
Singles above 35 years old will not be allowed to buy these PLH flats in the resale market in future. This is in contrast to current rules that do not place limitations on singles above the age of 35 buying resale flats.
The current new PLH model will be implemented for public housing in prime, central locations such as the city centre and Greater Southern Waterfront area.
There will be a good mix of new flats coming up in five towns - Bukit Merah, Jurong West, Queenstown, Toa Payoh and Yishun. The increased supply of flats will provide more housing options for young couples planning to start their marriage and parenthood journey, as well as for second-timer families, multi-generation families, the elderly, and singles.
There will be 2 PLH BTO projects in the mature estates of Bukit Merah and Queenstown, said the Housing and Development Board (HDB) on 23 May (Monday). As expected, there will be no 5 room flats avail in both projects as all 1,660 units in Bukit Merah and 860 units in Queenstown will comprise 3-room and 4-room flats.
Flats under the PLH model come with stricter buying and selling conditions, including a 10-year minimum occupation period and a subsidy clawback at the first resale transaction.
Buyers who want one of these flats on the resale market in future will also have to meet the prevailing eligibility conditions for buying a flat directly from the HDB . These include having at least one applicant who is a Singapore citizen, meeting the household income ceiling of $14,000 and not holding a private property or sold any in the last 30 months.
Singles above 35 years old will not be allowed to buy these PLH flats in the resale market in future. This is in contrast to current rules that do not place limitations on singles above the age of 35 buying resale flats.
The current new PLH model will be implemented for public housing in prime, central locations such as the city centre and Greater Southern Waterfront area.
HDB noted that it has increased the supply of new flats in recent years – launching around 14,600 BTO flats in 2019 to about 17,100 in 2021. The planned launches of up 23,000 new flats a year in 2022 and 2023 mark a 35 per cent increase from 2021’s figure.
Demand for public housing has increased “significantly” in recent years, with the overall number of applications received per BTO flat up from 3.7 times in 2019 to 5.5 times in 2021. This is due to more marriages as the larger cohorts of those born in the late 1980s to 1990s reach marriageable age, as well as the growing trend of smaller households. COVID-related factors and the buoyant resale market have also spurred demand for BTO flats.
Last year in 2021, more than half of Singapore’s 24 HDB towns clocked million-dollar resale flat transactions. Real estate consultant Kiwi Lim from Huttons Asia believe the trend will continue to grow with more million dollar HDB resale transactions and is convinced almost 70% of HDB estates across Singapore may fall under PLH model within 5 years. Kiwi Lim felt that classifying more estates under the PLH BTO model may be the government's plan to manage soaring HDB resale prices across the island in future.
Demand for public housing has increased “significantly” in recent years, with the overall number of applications received per BTO flat up from 3.7 times in 2019 to 5.5 times in 2021. This is due to more marriages as the larger cohorts of those born in the late 1980s to 1990s reach marriageable age, as well as the growing trend of smaller households. COVID-related factors and the buoyant resale market have also spurred demand for BTO flats.
Last year in 2021, more than half of Singapore’s 24 HDB towns clocked million-dollar resale flat transactions. Real estate consultant Kiwi Lim from Huttons Asia believe the trend will continue to grow with more million dollar HDB resale transactions and is convinced almost 70% of HDB estates across Singapore may fall under PLH model within 5 years. Kiwi Lim felt that classifying more estates under the PLH BTO model may be the government's plan to manage soaring HDB resale prices across the island in future.
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