SINGAPORE — The new Plus and Prime flats launched on Wednesday (Oct 16) will come with a subsidy clawback clause of between six and nine per cent, said the Housing and Development Board (HDB), as it rolled out 8,573 Build-To-Order (BTO) homes under a new flat classification system. The new launch will sort BTO projects into the Standard, Plus and..
The Housing and Development Board launched 8,573 Build-To-Order flats on Oct 16.SINGAPORE — The new Plus and Prime flats launched on Wednesday will come with a subsidy clawback clause of between six and nine per cent, said the Housing and Development Board , as it rolled out 8,573 Build-To-Order homes under a new flat classification system.
This launch has seven projects each under the Standard and Plus categories, with 4,988 Standard flats and 3,273 Plus flats on offer. For comparison, four-room flats in Kallang/Whampoa transacted at between $890,000 and $938,000, said HDB, noting that there were no comparable three-room resale flats in the vicinity.
HDB said it takes into consideration the extra subsidies needed to keep individual Plus projects more affordable when determining the subsidy recovery percentages. When the prime location public housing model was introduced in 2021, the clawback was six per cent. It was raised to eight per cent in December 2023, and again to nine per cent in June 2024.
Buyers will be subject to a tighter loan-to-value limit of 75 per cent — a cooling measure implemented in August to encourage prudent borrowing and dampen demand in the HDB resale market. Ismail Gafoor, chief executive of real estate firm PropNex Realty, said the subsidy recovery rates for Prime and Plus flats are relatively modest and may still be palatable to flat buyers.
For instance, four-room flats in Costa Riviera I and II, a Standard project in Pasir Ris, are priced similarly to those at Central Trio @ AMK, a Plus project. They are also priced higher than four-room flats in Plus project Kembangan Wave.
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