TIGHTER measures for HDB flats in prime locations should help temper speculative demand and thus dampen price increases, said National Development Minister Desmond Lee at the Singapore Economic Policy Forum 2021 on Friday (Oct 29).
Lee was addressing concerns that first-time sellers of flats under the new prime location public housing (PLH) model could bump up prices to make up for the subsidies HDB will claw back at the point of sale.
The PLH model, which aims to keep prime HDB flats affordable and inclusive, was announced on Oct 27 by the Ministry of National Development (MND) and the Housing Development Board (HDB).
On top of recovering subsidies, there will also be stricter eligibility conditions for resale buyers and a longer 10-year minimum occupation period (MOP).
Why singles are not allowed to buy PLH flats, even on the resale market
Lee noted that the restrictions placed on PLH flat flow from its Built-to-Order (BTO) criteria, which currently only allows singles to buy new 2-room flats in non-mature estates.
source: The Business Times