Are nearby resale HDB flats a viable alternative to PLH flats?

Are nearby resale HDB flats a viable alternative to PLH flats?

September 13, 2022

https://i.imgur.com/nVEE8i7.jpg
Artist’s impression of King George’s Heights, which received the highest application rate among all PLH flats. Picture: HDB

Prime location public housing model (PLH)

The pilot prime location public housing (PLH) project – River Peaks I and II - was launched in November 2021. The four-room flats met with overwhelming response of 10.3 applicants for each flat, but the three-room flats were less popular with a lower application rate of 3.1.

To date, six PLH projects with a total of 5,545 units have been launched over four Build-To-Order (BTO) exercises. Each PLH project has met with varying degrees of success, depending on its location, proximity to amenities and launch price.

A key feature of the PLH model is the longer minimum occupation period (MOP) of 10 years – double the five years required for a BTO flat.

https://i.imgur.com/ADsI0tv.jpg

The resale HDB market may be the answer for some buyers who wish to live in a central location but want to avoid the longer MOP for PLH. As the PLH model is new, there are many nearby HDB flats that are not PLH. Immediate occupation is also possible for resale flats.

The main drawback of resale flats would be their higher prices, especially if the resale flat just obtained MOP. Older resale flats are likely to be priced lower, so buyers will have to find a balance between affordability and length of remaining tenure.

Rochor: First area to have PLH flats

The first two PLH projects are located along the Rochor Canal. River Peaks I and II was introduced as the first PLH project last November, followed by King George’s Heights in February.

Read more at: https://www.edgeprop.sg/property-new...tive-plh-flats