Posted October 21, 2024Oct 21 Staff Source & Credit With the new flat classification framework, BTO projects are now categorised as Standard, Plus, and Prime flats based on their locational attributes, offering housing options for different budgets and needs. Plus and Prime flats would naturally command higher market values, given their more favourable locational attributes. To keep them affordable, Plus and Prime flats will be priced with additional subsidies, on top of the significant market discounts that are applied to all BTO flats. To ensure a fair system of subsidies for all buyers, buyers of Plus and Prime flats will be required to return a percentage of the resale price or valuation of the flat (whichever is higher) when they sell their flat in future. Plus and Prime flats will also come with tighter resale and rental conditions, such as a 10-year Minimum Occupation Period (MOP), to support genuine owner-occupation needs. These additional measures will benefit current flat buyers, and future generations buying from the resale market.
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