{"id":122853,"date":"2021-10-27T07:29:05","date_gmt":"2021-10-27T00:29:05","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/first-bto-project-under-new-prime-housing-model-to-be-built-in-rochor\/"},"modified":"2021-10-27T16:04:56","modified_gmt":"2021-10-27T09:04:56","slug":"first-bto-project-under-new-prime-housing-model-to-be-built-in-rochor","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/first-bto-project-under-new-prime-housing-model-to-be-built-in-rochor\/","title":{"rendered":"First BTO project under new prime housing model to be built in Rochor"},"content":{"rendered":"


\nThe Rochor BTO project will have 960 units of\u00a0three-room and four-room flats, and 40 units of two-room rental flats. Source: HDB
\nThe first project under the new prime location public housing (PLH) model will be built at Rochor and launched at next month\u2019s Build-to-Order (BTO) exercise.
\nSituated along Weld Road and Kelantan Road, the project will feature 960 units of three-room and four-room flats as well as 40 units of two-room rental flats, revealed the Ministry of National Development (MND) and Housing and Development Board (HDB) in a joint release on Wednesday (27 October).
\nUnder the PLH model, future BTO flats in prime locations \u2013 which naturally command higher market values \u2013 will be priced with additional subsidies, on top of those currently provided for all BTO flats.
\n\u201cThis will keep flat prices affordable for a wide range of Singaporeans,\u201d said HDB.
\nHowever, those who decide to sell their BTO flats will have to pay a percentage of the flat\u2019s resale price to the HDB, enabling the authorities to claw back the additional subsidies. This subsidy clawback will apply when PLH flats are first sold on the resale market.
\nHDB noted that the subsidy recovery percentage \u201cwill be commensurate with the extent of the initial additional subsidy provided\u201d.
\nThose planning to acquire BTO flats in prime locations will have to meet the same eligibility criteria as those buying BTO flats elsewhere.
\nHowever, the quota for priority allocation under the Married Child Priority Scheme will be reduced.
\n\u201cThis allows public housing in prime central locations to be more inclusive, providing more opportunities to Singaporeans whose family members do not live near the area to also live in these neighbourhoods.\u201d
\nPLH flat owners will have to fulfil a longer Minimum Occupation period (MOP) of 10 years before they can sell their flats in the open market or invest in a private home.
\n\u201cGiven the prime locations and additional subsidies provided for PLH flats, there is a need to safeguard them for Singaporeans with genuine housing needs and strengthen the owner-occupation intent,\u201d said HDB.
\nMoreover, owners can not rent out their whole flat even after the MOP and only let spare bedrooms.
\nThese conditions will apply to those who purchase the PLH unit from HDB and in the open market.
\nThe resale of PLH flats will be limited only to buyers who meet the eligibility criteria to buy BTO flats.
\nThese include having at least one applicant who is a Singapore Citizen, having a monthly household income of not more than $14,000 and being an eligible family nucleus, such as married couples. Singles above 35 do not qualify to purchase resale PLH units.
\nBuyers should not also own or have an interest in a private property and have not disposed of any within the last 30 months.
\n\u201cWithout the eligibility conditions, the resale prices of these prime location flats may rise beyond the reach of many Singaporeans; and over time only the better-off can afford to buy them,\u201d explained HDB.
\nNotably, the PLH model will apply to selected public housing projects within prime and central locations, like the city centre and surrounding areas, including the Greater Southern Waterfront.
\nHDB underscored that the PLH model \u201cwill not be retroactively applied to existing flat owners\u201d.
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nCheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email:\u00a0cheryl@propertyguru.com.sg.\u00a0
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…First BTO project under new prime housing model to be built in Rochor<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Rochor BTO project will have 960 units of\u00a0three-room and four-room flats, and 40 units...<\/p>\n","protected":false},"author":1,"featured_media":122854,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-122853","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/rochor-bto-plh.jpg?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-vXv","jetpack-related-posts":[{"id":123369,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/strong-demand-for-four-room-flats-at-rochor-bto-projects-under-prime-housing-model\/","url_meta":{"origin":122853,"position":0},"title":"Strong demand for four-room flats at Rochor BTO projects under prime housing model","date":"November 22, 2021","format":false,"excerpt":"\r As of 2pm on 22 November, the subscription rate for 4-room flats stood at 4.1 for first-timers and 80.5 for second-timers, and 8.0 for the overall rate. 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