This new model replaces the current framework of classifying BTO flats under estates that are either mature or non-mature, which has been in place since 1992.
The Straits Times answers some questions about how the new system will affect home buyers:
Q How are flats categorised under the new model? What's different about it?A From the BTO sales exercise this week, flats will be placed in three groups - Standard, Plus or Prime. Standard flats will form the bulk of public housing supply and be built islandwide. They may have one or two good attributes, such as being close to the MRT station or amenities.
Plus flats are in better locations within each region across Singapore, such as those that are closer to MRT stations and town centres. Prime flats are in the choicest locations; they might be closer to the city centre or in surrounding towns. While they also come with the biggest subsidies, buyers of such flats face the tightest resale conditions.
Some Plus and Prime flats may also come with unique features, such as waterfront views.
This story is from the October 14, 2024 edition of The Straits Times.
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This story is from the October 14, 2024 edition of The Straits Times.
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