Analysts predict high demand for new 'Plus' flats introduced in the latest Build-to-Order (BTO) sales exercise in Singapore. These flats offer attractive locations near city centers, MRT stations, and amenities at competitive prices. Stricter resale rules are also imposed on Plus flats.
SINGAPORE: Plus flats, a new category of Housing and Development Board flats launched for the first time, are likely to see robust demand in the latest Build-to-Order sales exercise, analysts said.
Flats are classified based on “a holistic assessment” of three key criteria – proximity to the city centre, transport connectivity and availability of amenities, such as social and commercial services that are typically found in town centres. Prices for these “white flats” will be reduced by S$6,000 for a three-room flat and S$8,600 for a four-room flat to take into account the non-provision of internal partition walls and some electrical points.Eligible first-time flat buyers will be able to tap on more financial support.was in August raised to provide up to S$120,000 in grants for families.
Some of the Plus flats are also “priced very close” or even lower than those offered in Standard projects, said Huttons Asia’s senior director of data analytics Lee Sze Teck. As Plus and Prime flats are priced with more subsides to ensure affordability, clawbacks are in place to “maintain parity with other BTO flat buyers who are not accorded additional subsidies”, HDB said.
Also noting that buyers are likely to respond positively to the Plus flats, Singapore Realtors' head of research Mohan Sandrasegeran said having tiered subsidy recovery rates “allow for greater diversity in housing options” and will help home buyers to better select flats that are suitable for them.
HDB Singapore BTO Plus Flats Housing Market
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