{"id":122935,"date":"2021-11-01T02:16:58","date_gmt":"2021-10-31T19:16:58","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/exclusion-of-singles-from-buying-hdb-flats-in-prime-areas-not-a-step-backwards\/"},"modified":"2021-11-01T11:02:54","modified_gmt":"2021-11-01T04:02:54","slug":"exclusion-of-singles-from-buying-hdb-flats-in-prime-areas-not-a-step-backwards","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/exclusion-of-singles-from-buying-hdb-flats-in-prime-areas-not-a-step-backwards\/","title":{"rendered":"Exclusion of singles from buying HDB flats in prime areas not a step backwards"},"content":{"rendered":"


\nFor now, the current restrictions on PLH flats\u00a0are meant to prioritise larger households that might require more space, with adjustments\u00a0to be made after\u00a0the impact of the measures are assessed.
\nThe decision to exclude singles from the group of buyers allowed to purchase flats under the latest prime location public housing (PLH) model is not \u201ca step backward\u201d, reported Channel News Asia (CNA) citing National Development Minister Desmond Lee.
\nInstead, the Government want first to assess the model\u2019s impact and gain experience with it, making adjustments along the way, said Lee at the Singapore Economic Policy Forum on 29 October.
\nHe explained that the restrictions placed on PLH flats flow from its Build-to-Order (BTO) criteria, which currently allows singles to purchase new two-room flats within non-mature estates.
\n\u201cAnd we\u2019re not taking a step backward in this regard. The new prime location public housing model is brand new, untested in the market \u2026 and we won\u2019t be launching that many PLH flats initially,\u201d said Lee as quoted by CNA.
\n\u201cSo we\u2019re prioritising them, for now, for larger households who may need more space for more people in their families.\u201d
\nHe added that the singles can continue to acquire existing resale flats, including many within prime central areas.
\n\u201cLet us launch this program and policy, assess the impact of the current suite of measures in achieving our objectives, gain experience operating the model \u2013 as we make adjustments and improvements along the way, bearing in mind the evolving demographic of Singapore and the changing aspirations of Singaporeans,\u201d said Lee.
\nHe revealed that the additional eligibility restrictions for the resale of such flats were \u201cone of the deepest points of contention\u201d that authorities faced during previous public engagements.
\n\u201c(People) questioned: Why are we excluding some groups of people from these prime location flats, even upon resale, if our aim is to keep these prime locations inclusive?\u2026 Let me put it this way: It is not our intention to exclude anyone from these prime locations,\u201d he said.
\nHowever, resale prices would likely increase out of reach of many Singaporeans without some form of intervention, thus excluding them, said Lee.
\nHe shared that they settled on reusing the BTO eligibility criteria as \u201can objective set of means-tested conditions that Singaporeans are already familiar with\u201d.
\nMoreover, they cover a broad range of households \u2013 the $14,000 income ceiling, for instance, covers over eight in 10 resident households.
\n\u201cThere will still be many better-off households who don\u2019t qualify. But they should be better able to afford other housing options in these prime central areas, like existing resale HDB flats, or private housing,\u201d said Lee.
\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…Exclusion of singles from buying HDB flats in prime areas not a step backwards<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

For now, the current restrictions on PLH flats\u00a0are meant to prioritise larger households that might...<\/p>\n","protected":false},"author":1,"featured_media":122936,"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-122935","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\/11\/plh-model.jpg?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-vYP","jetpack-related-posts":[{"id":122853,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/first-bto-project-under-new-prime-housing-model-to-be-built-in-rochor\/","url_meta":{"origin":122935,"position":0},"title":"First BTO project under new prime housing model to be built in Rochor","date":"October 27, 2021","format":false,"excerpt":"\r The Rochor BTO project will have 960 units of\u00a0three-room and four-room flats, and 40 units of two-room rental flats. Source: HDB The 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. Situated along Weld\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/rochor-bto-plh.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":122878,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-prime-area-housing-model-may-boost-demand-for-flats-in-nearby-areas\/","url_meta":{"origin":122935,"position":1},"title":"New prime area housing model may boost demand for flats in nearby areas","date":"October 29, 2021","format":false,"excerpt":"\r Future HDB flats launched under the PLH model have tighter rules\u00a0like an extended MOP period of 10 years, which may push potential buyers towards flats in city-fringe areas that are not subject to such restrictions. Analysts believe the stricter resale conditions for flats under the new prime location public\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/singapore-prime-district.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":123703,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-flats-remain-attractive-as-investment-despite-restrictive-rules-under-plh-model\/","url_meta":{"origin":122935,"position":2},"title":"HDB flats remain attractive as investment despite restrictive rules under PLH model","date":"December 9, 2021","format":false,"excerpt":"\r Over the past 20 years, prices of resale HDB flats increased by 0.82%\u00a0quarter-on-quarter on average, or an accumulated growth of almost 70%. Aside from providing a roof over people\u2019s heads, housing is also considered as one of the biggest assets for over 90% of Singaporean households. In an article\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/12\/HDB-EIP.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":138882,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-launches-plus-prime-and-standard-bto-flats-singles-can-soon-buy-2-room-flexi-flats-across-singapore-and-more\/","url_meta":{"origin":122935,"position":3},"title":"HDB Launches Plus, Prime, and Standard BTO Flats, Singles Can Soon Buy 2-room Flexi Flats Across Singapore, and More","date":"August 21, 2023","format":false,"excerpt":"\r HDB Launches Plus, Prime, and Standard BTO Flats, Singles Can Soon Buy 2-room Flexi Flats Across Singapore, and More15 to 21 August 2023 HDB has introduced a new BTO classification system, replacing the long-standing mature and non-mature estate labels. Meanwhile, singles aged 35 and above will be allowed to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2023\/08\/plantation-weave-parc-meadow-tengah-may-2023-bto-launch-1.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":123358,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/analysts-divided-on-whether-6-subsidy-clawback-for-rochor-flats-is-adequate\/","url_meta":{"origin":122935,"position":4},"title":"Analysts divided on whether 6% subsidy clawback for Rochor flats is adequate","date":"November 22, 2021","format":false,"excerpt":"\r When\u00a0River Peaks I & II flats go onto the resale market for the first time, future residents of the Nov 2021 BTO launch will have to pay a 6% of the resale price or the unit\u2019s valuation, whichever is higher. Source: HDB Property analysts are divided on whether the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/11\/NOV-2021-HDB-BTO-ROCHOR-RIVER-PEAKS.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"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":122935,"position":5},"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. Source: HDB Demand for four-room flats in the first Build-To-Order (BTO) projects under a new prime location public housing (PLH) model have\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/11\/hdb-flats-in-singapore.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/122935"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=122935"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/122935\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/122936"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=122935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=122935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=122935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}