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HDB flats’ new classification – Standard, Plus, Prime – could raise resale demand
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Lengthening the holding period of an HDB flat can reduce the number of people purchasing units in good locations for short-term gains.
ST PHOTO: GIN TAY
Christine Sun
Prime Minister Lee Hsien Loong announced several new housing policies during National Day Rally 2023. The most significant change pertains to the review of the estate classification of new Build-To-Order (BTO) flats.
From the second half of 2024, new flats will be categorised as Standard, Plus or Prime. Plus and Prime units will be in choicer locations but bounded by stricter resale conditions and a longer MOP (minimum occupation period) of 10 years. All other flats are Standard, with a five-year MOP and standard restrictions.
