Singapore’s New Public Housing Model
An area like the Greater Southern Waterfront - with sea views and proximity to the city centre - would likely be considered a prime public housing locale by many people. This is why the Government's approach is to first focus on locations that "everybody readily recognises as a prime area" under the
Published -
Nov 11, 2021 6:54 PM
An area like the Greater Southern Waterfront - with sea views and proximity to the city centre - would likely be considered a prime public housing locale by many people. This is why the Government's approach is to first focus on locations that "everybody readily recognises as a prime area" under the new prime location public housing (PLH) model. Public rental flats will also be built at these sites, where feasible, for lower-income households. The first Build-To-Order (BTO) project to come under the new model will be in Rochor and units will be up for sale this month. Owners will be subject to a 10-year minimum occupation period (MOP) and have additional subsidies clawed back by the Government upon the flat's resale, among other conditions. The PLH model - to ensure that new public housing in prime, central locations will remain affordable, accessible and inclusive for Singaporeans - comes after almost a year of public consultations. More than 7,500 Singaporeans weighed in with ideas and suggestions. The decision to extend the MOP for prime location HDB flats to 10 years, up from the current five, came after extensive discussions. MOP is the period of time owners have to live in a flat before they can sell it on the open market.
Tags : INTERNATIONAL Government Singapore Public Housing Minimum Occupation Period - MOP Build-To-Order PLH Model