HDB Launching 9,500 BTO Flats Next Week With 3 Projects Under Prime Housing Model

By
Aricia Yee
-

If you are in a stable relationship for a period of time and finding the right time to pop the question, the time is now.

Even if you’re not, the time is still now.

This is because Housing Development Board (HDB) will be launching 9,500 Build-To-Order (BTO) flats next week, on 23 November 2022.

3 out of 10 of these BTO projects will come under the prime location public housing (PLH) model.

Wait, what is a PLH model again? 

What is the Prime Location Public Housing Model?

Unlike the current restriction of five years, PLH flats can only be sold in the resale market after a decade.

What’s more, homeowners will not be able to put up their whole flat for rent after 10 years, though they may do so for individual rooms.

These rules will apply to the first and subsequent buyers.

So, where exactly are these prime locations?

For now, PLH housing projects will be at the city centre and the towns surrounding it, as well as the Greater Southern Waterfront.

However, it is not the entire area of these locations. Only specific projects will come under the new scheme.

For more information on BTO, you can watch this video.

Basically, these are the flats that could potentially make you a millionaire lah.

HDB Launching 9,500 BTO Flats Next Week With 3 Projects Under Prime Housing Model

Two of the PLH projects are in the Queenstown estate— Ulu Pandan Banks and Ghim Moh Natura. Another PLH project is Kallang Horizon in Kallang Whampoa, also a mature estate.

The flat owners will have to pay 6 per cent of the resale price or valuation (the higher one), to HDB when they sell their homes on the open market for the first time.

Another project in Queenstown, Queensway Canopy, will not fall under the PLH model since it is further from main transport nodes and main retail amenities.

However, the residents at Queensway Canopy will still have access to essential amenities like supermarkets and food centres.

For PLH projects near transport nodes, they will naturally have higher market values.

“To keep such PLH projects affordable and accessible, we apply an additional subsidy, on top of the substantial subsidies already provided for all BTO flats,” said Mr Desmond Lee, the National Development Minister.

Ulu Pandan Banks is located on the eastern half of Dover Forest and is gazetted as car-lite, so there will be fewer parking spaces.

Previously, there were plans to use 33 hectares of Dover Forest for public housing purposes but the plan has been revised. About 11 hectares in the eastern half will be used for public housing while the rest are preserved.

Other BTO Projects, Including One that Allows You to Customise your Home Layout 

On the same day next week, BTO projects will also be launched in Bukit Batok, Tengah and Yishun. There is one project in Bukit Batok and three in Yishun.

Two of the projects in Tengah will feature a beamless flat design to allow greater flexibility for residents to customise the layout of their flats.

All the projects will be up for sale from 23 November 2022, so all the best in your quest to be a millionaire.

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Featured Image: Rajaraman Arumugam / Shutterstock.com

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Aricia Yee
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