HDB Plus Flat Owner Rental Restrictions, First-Timer Families Get Standard BTO Flat Priority
The Plus apartment type will have a $14,000 income cap for resale purchasers and a restriction on renting out the whole unit. Singapore Land Authority (SLA) and Urban Redevelopment Authority (URA) have issued a fresh tender to turn The Continuum Condo into a community center.
HDB Plus unit owners cannot rent their whole residences
Following the Continuum Condo pricing announcements, the new Plus flat model will have a $14,000 income maximum for resale purchasers and a restriction on renting the whole property.
TODAY reported that Minister of National Development Desmond Lee would limit The Continuum Floor Plan apartment rentals for first-time and resale purchasers.
“This ensures owner occupation for such flats and deters those who intend to ‘flip’ them for quick gains or rent them out for long-term yields,” he added.
Lee emphasized that the $14,000 income restriction for families and individuals is also the wage cap for married couples purchasing BTO flats.
Also, private property owners who want to buy Plus flats will have to wait 30 months before they can do so.
Notably, Plus flats will be built in better places, like near town centers and transportation hubs, or in more central places like Bishan, Ang Mo Kio, Clementi, Toa Payoh, Queenstown, Bedok, Bukit Merah, and Kallang-Whampoa.
SLA and URA want creative ideas to turn Bukit Timah Fire Station into a community center
The Straits Times reported that SLA and URA issued a fresh tender to turn the old Bukit Timah Fire Station into a community center.
After Homestead Holland, the winning consortium, left in 2022. The 0.86ha property was meant to become a lifestyle center with a food market and allotment gardens by Homestead Holland.
SLA and URA sought “a compelling proposal to repurpose the state property to promote healthy living, community interaction, and integration with nature while featuring environmentally sustainable urban solutions” in the new tender.
The renewed contest will employ improved assessment criteria to emphasize sustainability objectives and achievements from the Singapore Green Plan 2030.
Due to COVID-19, OLA Executive Condominium Showflat is open for online bookings. You can now register online to receive direct developer discount offers and prices.