Singapore real estate market on edge: Will buyers embrace new Plus flats with stricter conditions? Singapore

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SINGAPORE: In the high-stakes world of real estate, the upcoming October Build-To-Order sales are set to become a battleground for buyers’ preferences, with a significant portion of the flats falling

into the P, these flats, though not located in prime areas, come with a twist – stricter conditions and longer minimum occupation periods . The real estate experts at PropNex are calling this launch a “litmus test” for how theThe October sales will see an unprecedented 42% of flats being either Plus or Prime, signalling a shift to these types of properties.

For Prime flats, the clawback subsidy could increase to 10%-12%, up from the current 9%, while Plus flats might start at 6%, mirroring the first Public Leasehold Housing flats. This subsidy structure has raised eyebrows, particularly for singles, who face income ceiling restrictions when purchasing resale Plus and Prime flats. Singles earning more than $7,000 per month are limited to standard or Plus resale flats, missing out on Prime options., even with these conditions.

 

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