SINGAPORE — When the new Plus flats under the public housing authority’s new classification scheme hit the resale market about 15 years from now, there may be some “disparities” because of different resale restrictions for similar flats, property analysts said. However, this is a necessary bump to cross in o
SINGAPORE — When the new Plus flats under the public housing authority’s new classification scheme hit the resale market, there may be some “disparities” because of different resale restrictions for similar flats, property analysts said. However, this is a necessary bump to cross in order to achieve fairer housing allocation in the long term, they added.
However, they pointed out that such a potential disparity in resale value in the above example is not an unfair one, since owners of Plus flats are granted higher subsidies in the first place “in return” for tighter resale conditions. Dr Leong Chan-Hoong said that this is in part due to the income ceiling restriction for buyers of resale Plus flats.
“In keeping from boiling over, they can cover one part, which is the price of new BTO Plus flats, but the other part will boil over, which is the resale of existing flats that do not have extra restrictions, as they will get scarcer.” While there could be some disparities in the resale value of the older and newer flats, some of the analysts believe that the disparities may not be as large as expected.
Ms Sun added that having Plus flats in estates where there are many other existing projects, while possibly drawing comparisons due to the disparity, is an intentional part of the HDB’s design to create more diversity in the neighbourhood.
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