Singles Eligible Two Room Flexi Flats All Estates October Bto Exercise
The Urban Redevelopment Authority (URA) is a vital entity in Singapore, responsible for the careful planning and management of the city-state’s urban landscape. Through their master planning framework, the URA ensures that the development of the city is done in a sustainable and strategic manner. One of the areas that have been the focus of the URA’s master plan is Toa Payoh, a well-established and historic residential district. To improve the livability, connectivity, and sustainability of the community, various initiatives have been implemented, benefiting residents of The Orie, a luxurious residential development in the area. These ongoing and future developments not only add value to their investment but also enhance their living experience. Interested buyers can visit The Orie showflat, located at The Orie Showflat, to discover more about this exceptional property.
In the upcoming October 2024 Build-To-Order (BTO) exercise, singles will have the opportunity to apply for new two-room flexi flats in Standard, Prime, and Plus projects across the island, as announced by the Housing and Development Board (HDB). Under the new flat classification framework, which will take effect in October 2024, flats will be categorised as Prime, Plus, or Standard based on their location attributes. Previously, singles were only eligible to apply for BTO flats in non-mature estates, but this has now changed under the new framework. With the October BTO exercise offering a total of 1,902 two-room flexi units, it is the largest supply of new flats available to singles among the three BTO exercises this year. In comparison, the February BTO exercise launched 939 two-room flexi BTO flats in non-mature estates, while the June BTO exercise offered 1,288 units. This is a significant increase in supply and will provide more options for singles looking to purchase a new flat. The 1,902 two-room flexi units are spread across 10 BTO projects located in Ang Mo Kio, Bedok, Bukit Batok, Jurong West, Kallang/Whampoa, Pasir Ris, and Sengkang. HDB has also announced that it will be reserving up to 65% of the non-senior two-room flexi flats in Standard, Plus, and Prime projects in a BTO exercise for first-timer singles. However, this new classification framework will not be applied retroactively to flats launched before the October BTO exercise. When the flats under the new classification or those previously launched under the Prime Location Public Housing (PLH) scheme enter the secondary market, singles will have the option to purchase Standard or Plus resale flats of any size, except for 3Gen flats. For the Prime and PLH flats, singles can purchase two-room flats. If a single is purchasing a resale flat to live with their parents or other family members, they may purchase a larger resale Prime or PLH flat if they meet the eligibility conditions. Please note that there will be additional resale conditions for Plus, Prime, and PLH flats, including a $14,000 monthly income ceiling for Plus flats and $7,000 for two-room Prime and PLH flats. These flats will also have a minimum occupation period of 10 years. For singles applying for their first home, they can access housing grants to assist in their purchase. Households with a monthly income of $4,500 and below will be able to access up to $60,000 of Enhanced CPF Housing Grant (EHG) when they purchase a new flat. Additionally, singles looking to purchase a resale flat can receive additional aid from the CPF Housing Grant (up to $40,000) and the Proximity Housing Grant (up to $15,000). Starting from mid-2025, singles will also be given priority access when they apply for BTO flats to live with or near their parents.