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What is HDB’s prime location public housing model? Will The Pinnacle@Duxton be affected?

aseanpr
5 minutes

SINGAPORE - Future Housing Board (HDB) flats in certain locations will be subject to tighter buying and selling conditions under a new prime location public housing (PLH) model. The PLH model is aimed at keeping future HDB flats in prime, central locations affordable and inclusive. "If left to the forces of the private market, it is likely that these attractive locations would likely become very expensive and exclusive locations, with housing that only the well-to-do can afford," said National Development Minister Desmond Lee on Tuesday (Oct 26). A record number of HDB flats have changed hands for at least $1 million this year, with The Pinnacle @ Duxton arguably the “poster boy” for such transactions, although such units are not exclusively located in the central area. Mr Lee said the PLH model was developed after almost a year-long public engagement with more than 7,500 Singaporeans. "We recognise that we are acting against very powerful social and economic forces that drive stratification and segregation in every society, especially in successful cities," he said, adding that the model is necessary to achieve equitable outcomes. Here are the key features of the PLH model and con...

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Subsidy clawback, 10-year MOP for new prime location HDB flats to keep them affordable, inclusive

aseanpr
6 minutes

SINGAPORE - Future Housing Board (HDB) flats built in prime, central locations will be subjected to a 10-year minimum occupation period (MOP) and additional subsidies will be clawed back by the Government upon their resale. These are among the key measures under a new prime location public housing (PLH) model, aimed at keeping prime HDB flats affordable and inclusive, announced by National Development Minister Desmond Lee on Tuesday (Oct 26). The first Build-to-Order (BTO) project under this model will be located in Rochor and launched next month. The pool of resale buyers of these prime HDB flats will also be limited to households who earn not more than $14,000 a month and at least one applicant must be a Singapore citizen. Under the PLH model, fewer flats may be set aside under HDB's Married Child Priority Scheme, which gives priority to applicants whose parents or children live in the same area. Currently, up to 30 per cent of new flats are set aside under this scheme for families buying a flat for the first time. At a media briefing on Tuesday, Mr Lee said the new model is to keep public housing in prime locations affordable, accessible and inclusive for Singaporeans, both at t...

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First BTO project in Rochor under new prime housing model to launch in November

aseanpr
3 minutes

SINGAPORE - The first project under a new model for public housing in prime locations will be built in Rochor and launched at the Build-to-Order (BTO) exercise next month. The project will have a mix of 960 three-room and four-room flats, and also include 40 two-room rental flats, as part of efforts to make living in prime areas accessible to all. It will be located on two plots of land along Weld Road and Kelantan Road next to Jalan Besar MRT station, said the National Development Ministry and Housing Board in a joint statement on Wednesday (Oct 27). An open-air carpark next to Sim Lim Tower used to occupy one plot, while the other was vacated by the Sungei Road flea market in July 2017. Besides an MRT station at their doorstep, future residents will also be within walking distance of Berseh Food Centre and Stamford Primary School. At a media briefing on Tuesday (Oct 26), National Development Minister Desmond Lee said more HDB flats will be rolled out progressively after the Rochor project, in prime areas within and surrounding the city centre. Moving forward, HDB will launch at least one prime location housing project per year, he said, adding that the proportion of new prime loc...