The October 2024 BTO launch introduces new housing categories—Standard, Plus, and Prime. Over 8,500 units were released, making this the largest launch in 2024, comprising 4,988 Standard, 3,273 Plus, and 312 Prime flats. Flats in the Plus and Prime categories come with a subsidy clawback ranging from 6% to 9% when resold, depending on their location.
Crawford Heights, the sole Prime project, has a 9% clawback, with prices starting from $390,000 for three-room units and $568,000 for four-room units. Meanwhile, Plus flats, such as those in Bedok, come with a clawback of 6% to 8%, with prices ranging from $453,000 to $694,000 for four-room units. This subsidy recovery aims to prevent homeowners from cashing out excessively on flats located in prime areas.
In addition, the loan-to-value (LTV) limit for HDB loans has been reduced from 80% to 75%, a cooling measure introduced in August to ensure prudent borrowing. Buyers in this exercise can also benefit from the enhanced CPF Housing Grant, raised to $120,000 for families and $60,000 for singles, making homes more affordable.
This BTO launch also marks the first time singles can apply for two-room Flexi flats in all locations. Nearly 2,000 units across 10 projects, such as Ang Mo Kio, Bedok, and Pasir Ris, are now available. HDB aims to provide more BTO flats with waiting times of three to four years, with 70% of the units in this launch falling within that timeframe.
With higher subsidies and new restrictions, HDB hopes to make housing affordable while preventing market speculation.
