Singles will have more housing options for both BTO and resale flats

August 21, 2023
Singles will have more housing options for both BTO and resale flats

At the National Day Rally 2023 on Sunday (Aug 20), Prime Minister Lee Hsien Loong announced changes to housing policies that would give singles more housing choices under a new HDB framework that will be rolled out from the second half of 2024.

This was announced by Prime Minister Lee Hsien Loong at the National Day Rally on Aug. 20, 2023.

In his speech, PM Lee noted that an increasing number of Singaporeans are choosing to be single.

"Singles too hope to own their homes, and have more housing choices. We hear your concerns," he said.

What's the new framework?

The new framework classifies new HDB BTO projects into three types -- Standard, Plus and Prime -- to better reflect locational attributes of flats, while keeping them affordable.

Standard flats are typical flats built all over Singapore that are subject to HDB's standard subsidies and restrictions.

Plus flats are built at choicer locations within a region, and will have more subsidies and tighter resale restrictions.

Prime flats are those built in the choicest and most central locations, which will be the most heavily subsidised, but will also be subject to the tightest restrictions.

Flats launched under the current Prime Location Housing model are Prime flats under the new framework

This framework will be in effect from the second half of 2024.

Current HDB options for singles

Currently, first-timer singles aged 35 and above can only apply for new 2-room Flexi flats in non-mature estates, or purchase a flat on the resale market.

They are not allowed to buy new Flexi flats in mature estates or flats under the Prime Location Housing model.

"These rules are to prioritise our limited supply of flats, but unfortunately, they have restricted singles' choices," PM Lee acknowledged.

More housing options to be available for singles under new framework

However, PM Lee stated that the new Standard, Plus and Prime classification would enhance the housing options available for singles aged 35 and above.

According to an MND press release, eligible first-timer singles will be able to:

a) Apply for 2-room Flexi BTO flats in all locations, across Standard, Plus or Prime housing projects

b) Buy a Standard or Plus flat of any size in the resale market (except for 3Gen flats); or

c) Buy a 2-room Prime flat in the resale market

PM Lee said he hoped this would come as good news for singles.

"I am sure singles will welcome this move -- to have more choices to find your own home, and write your part in Singapore's housing story," he concluded.

MND wrote in the press release that they will engage Singaporeans to seek feedback on these changes.

Article published on Mothership.

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