HDB unveils eight BTO projects, ups grants for 3 in prime areas

6,938 flats for sale; prime units subject to higher subsidy clawback on resale

The Housing Board launched 6,938 Build-To-Order (BTO) flats on June 19 for sale across eight projects in Jurong East, Kallang/Whampoa, Queenstown, Tampines, Woodlands and Yishun.

HDB also announced it would increase the subsidies for three of the projects that are under the prime location public housing (PLH) model. This is to keep the flats affordable for a wider range of Singaporeans, the agency said, without specifying the extent of the increase.

The projects are Tanjong Rhu Riverfront I and II in the mature town of Kallang/Whampoa, as well as Holland Vista in Queenstown.

For fairness, owners of these flats will be subject to a higher subsidy clawback upon the resale of their flats. The clawback, set at 9 per cent of the resale price or valuation, whichever is higher, is to correspond to the extent of the extra subsidies offered, said HDB.

The clawback was 6 per cent when the PLH scheme was introduced in 2021, to curb the “lottery effect” of owning flats in prime and central locations. It was raised to 8 per cent in December 2023.

“With these additional subsidies and the substantial market discounts already applied across all BTO flats, the selling prices of these PLH projects will be significantly lower than the transacted prices of comparable resale flats nearby,” HDB said.

There is a 10-year minimum occupation period (MOP) for these flats.

HDB added that 20 per cent of the PLH flats will be set aside for families that are applying for flats for the first time, while 2 per cent will be for families that are second-time applicants under the married child priority scheme. The scheme allows a married child and his or her parents to live with or close to one another for mutual support.