HDB Prime Location Housing Policy 

Hdb Prime Location Housing Policy By Ryan Lee K K Buyhomenothouse 1

HDB Prime Location Housing Policy

HDB Prime Location Housing Policy 

Today I am going to explain to you what is PLH and How will the HDB PLH model affect us?

The Singapore government introduced the Prime Location Public Housing (PLH) model in late October 2021.

The objective of this new model for selected HDB projects is to ensure that new public housing flats built in prime, central locations will remain affordable, accessible and inclusive for Singaporeans.

The buyers of these PLH flats will be subjected to certain rules to ensure that these flats are for owner-occupation and to reduce the incentives to treat these flats as investment properties.

There are a total of 4 points to take note if you are considering PLH HDB

First, when the first buyer of the PLH flat sells the flat in the resale market, the government will recover part of the initial subsidy from the first buyer as a percentage of the resale price.

Second, the minimum occupation period (MOP) of PLH flats is 10 years, instead of the usual 5 years for other HDB flats. The buyers of resale PLH flats are also subjected to the 10-year MOP.

Third, the owner of the PLH flat is not allowed to rent out the entire flat, even after the MOP. The owner can lease out the spare bedrooms. This rule also applies to the owners of the PLH resale flats.

Fourth, one of the eligibility criteria for the buyer of both the new and resale PLH flats is that his household income cannot exceed the income ceiling, which is currently S$14,000 per month.

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