BTO FLATS, SUBSIDY CLAWBACK
There are four standard and four prime BTO projects offered in the latest sales exercise, comprising flats ranging from two-room flexi to 3Gen flats.
The standard projects on offer are in Bukit Panjang, Sembawang, Tampines and Woodlands, while the prime projects include two in Bukit Merah and one each in Clementi and Toa Payoh.
“To ensure affordability, all new flats are priced with significant market discounts,” HDB said.
On top of the market discounts, Prime flats – which command higher market values due to their more favourable locational attributes – get additional subsidies to ensure affordability and accessibility.
The selling prices for these new flats are substantially lower than the transacted prices of comparable resale flats, said HDB.
Correspondingly, one of the additional restrictions that come with Prime flats is the subsidy clawback upon resale, which is derived as a percentage of the flat’s resale or valuation price, whichever is higher.
Alexandra Peaks, Alexandra Vista and Toa Payoh Ascent will have subsidy clawback rates of 11 per cent, while Clementi Emerald will have a 12 per cent subsidy recovery rate.
“They are commensurate with the extent of the additional subsidies provided for the respective projects,” HDB said.
Eligible first-timer families stand to benefit from the enhanced CPF housing grant of up to S$120,000 (US$94,000). With the grant, homebuyers can purchase a 3-room standard flat starting from S$162,000 or a 4-room standard flat starting from S$248,000, said the Housing Board.
