HDB: PRIME LOCATION PUBLIC HOUSING (PLH)
The Ministry of National Development has on Oct 26, announced the introduction of the Prime Location Public Housing (PLH) model, aimed at keeping prime HDB flats affordable and inclusive.
PLH flat owners will be required to pay a percentage of the resale price to HDB when they resell their home on the open market for the first time. This will apply only to those who bought the flat from HDB and not to subsequent resale transactions. The rationale for this is because all subsidies have already been factored into flat prices when they are launched as BTO flats.
In addition, fewer flats may be set aside under HDB's Married Child Priority Scheme, which gives priority to applicants whose parents or children live in the same area.
The Minimum Occupation Period (MOP) for both new and resale PLH flats will be extended from 5 to 10 years.
Owners of PLH flats may only rent out spare rooms and not the entire flat, even after attaining the MOP.
There are additional eligibility conditions for buyers of resale PLH flats (refer to the table appended).
The PLH model will apply only to future public housing in prime locations and not to existing flat owners.
There will be at least one PLH project launched each year.
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