SINGAPORE — A new “Plus” model to classify public housing projects will be introduced from the second half of next year, and the current mature and non-mature estate classification will be phased out.
Prime Minister Lee Hsien Loong said during his National Day Rally speech on Sunday . that Build-to-Order public housing projects under this new Plus category will be found in “choice” locations across the island, such as near MRT stations, as well as near town centres.
Mature estates were usually more centrally located, were better connected and had better amenities. These would be those in Queenstown, Toa Payoh and Ang Mo Kio, for instance.However, Mr Lee said that the housing landscape has evolved, due to several factors: Such flats see high demand, because people believe that these would fetch much higher resale prices afterwards. This turns the BTO exercise into a lottery, with those who managed to get such a flat from ballots standing to gain a windfall upon resale.
A longer minimum occupation period of 10 years to favour buyers who are planning to live and occupy the flat for the longer term, and to discourage those who may be thinking of flipping the property for resale and moving out as soon as they can He said that the HDB projects at Bayshore will likely be Plus projects, and will be sold under the above rules.With the new Plus flats, there will thus be three categories of flats:
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