New 'Standard, Plus, Prime' framework for all new BTO projects from the 2nd half of 2024 Read more at straitstimes.com.
SINGAPORE - A new classification of flats that differentiates Build-To-Order projects by the attractiveness of their location, such as proximity to MRT stations and to the city centre, will take effect from the second half of 2024.
One step down is the new Plus category, which are flats in attractive locations within each region across Singapore, such as those near the MRT station or town centre. It is needed to achieve three important objectives, he added - to keep flats affordable to all income groups, maintain a good social mix in every town and region, and keep the public housing system fair for everyone.
To moderate prices at both the initial sale and on the resale market, Plus flats will come with stricter resale conditions, said PM Lee. HDB and the National Development Ministry said clawing back the additional subsidies will help mitigate “excessive windfall gains” if Prime and Plus flat owners choose to sell their units later on, and ensure fairness across all homeowners.
The Government will gradually provide more housing grants - especially those that are means-tested - to ensure lower- and middle-income households get the most support to own their homes, said PM Lee.
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