With the upcoming October BTO 2024 sales launch around the corner, it’s more important than ever to familiarise yourself with the new Standard, Plus, and Prime HDB categories. This launch will mark the first time these new categories are fully introduced, officially replacing the long-standing system of categorising BTO projects as mature or non-mature estates, which has been in place since 1992.
New classification of HDB flats starting October 2024 BTO
- Introducing the new HDB classification: Standard, Plus & Prime
- What are the differences between Standard, Plus, and Prime BTO projects?
- What the new Plus category means
- Resale restrictions for Plus flats
- The new HDB classification also benefits Singles
- Rather buy a resale HDB flat instead?
- Before you sell, get a home valuation report
Introducing the new HDB classification: Standard, Plus & Prime
In response to changes in the housing landscape and shifting buyer preferences, the government has introduced a new HDB classification system. Prime Minister Lee Hsien Loong announced at the National Day Rally 2023 that BTO projects will now fall under three categories: Standard, Plus, and Prime, with full implementation starting this upcoming October BTO 2024 sales launch.
These categories are based on factors like proximity to transport, nearby amenities, and distance from the city centre. They were first rolled out in the August 2023 BTO exercise, where the Plus category debuted with two sites in Queenstown: Ulu Pandan Glades and Ulu Pandan Banks.
Existing BTO flats or flats that have already been booked will not be affected by the changes.
What are the differences between Standard, Plus, and Prime BTO projects?
| Category | Definition | Existing BTO flats | First BTO launch |
|---|---|---|---|
| Standard | Typical BTO flats located in less central areas, offering essential amenities and basic transport connections. They have fewer resale restrictions and are more affordable. | All Standard flats starting from October 2024 BTO launch | Oct 2024 |
| Plus | Flats in desirable locations with better transport links and amenities than Standard flats, but not as central as Prime. They come with additional restrictions, such as a longer MOP and subsidy clawbacks upon resale. | Ulu Pandan Glades Ulu Pandan Banks (Queenstown) | Aug 2023 |
| Prime | Flats in highly desirable, central locations close to the city centre or prime amenities. These come with the strictest resale conditions, including a longer MOP and more substantial subsidy recovery. | All Prime flats, including those launched under the Prime Location Public Housing (PLH) model E.g. River Peaks I & II (Nov 2021) | Introduced October 2021 (PLH), fully implemented October 2024 |
The Standard category will make up the bulk of the supply. They will be located islandwide and will follow the regular subsidies and standard MOP rule of 5 years.
Prime projects, which refer to BTO flats under the existing PLH model which took effect in Nov 2021, will be located in the “choicest”, most central locations. That said, they will also have the tightest restrictions for buyers and sellers: a 10-year MOP and a subsidy recovery of 6% for buyers when they sell their home on the resale market for the first time. You can read more about the PLH model here.
What the new Plus category means
The newest addition to the BTO categorisation is the Plus category, which sees BTO projects located in areas more attractive than the Standard projects — near MRT stations, malls, and other favoured amenities by buyers — but less central than Prime projects.
Plus flats will also have a 10-year MOP, just like flats under the PLH model, though they will have a lower subsidy recovery rate.
Speaking of which, subsidy recovery rates vary according to the BTO project, but don’t worry. HDB will provide it before you make a property purchase.
Resale restrictions for Plus flats
#1: Plus flats can only be resold to Singapore citizens
On 22 August 2023, MND also announced that Plus flats, upon reaching the 10-year MOP, can only be sold to Singapore Citizens on the resale market. (There is a chance for this rule to be applied to Prime projects as well, but there is currently no confirmation on this at the time of writing.)
#2: 30-month waiting period for private property owners
Private property owners will also have to wait 30 months after selling their home to be eligible to purchase a Plus flat on the resale market.
#3: $14,000 income ceiling
Additionally, the Government will gradually provide more housing grants, especially grants that are means-tested such as the Enhanced Housing Grant (EHG), to keep costs low while still providing maximum support to lower- and middle-income households in Singapore.
The new HDB classification also benefits Singles
The new HDB classification comes with some good news for single buyers.
Starting H2 2024, eligible first-time singles who are at least 35 years old will be able to:
- Apply for two-room Flexi BTO flats in all locations, across all types of projects – Standard, Plus, and Prime
- Buy a Standard or Plus flat of any size in the resale market (except 3Gen flats)
- Buy a two-room Prime flat in the resale market
The $7,000 income ceiling will still apply.
First-time singles buying a resale flat may also be eligible for CPF Housing Grants of $40,000 for the purchase of a 2- to 4-room resale flat or $25,000 for a 5-room resale flat. They can also apply for the Enhanced CPF Housing Grant (Singles) and the Proximity Housing Grant (Singles) if they meet the eligibility conditions.
Rather buy a resale HDB flat instead?
Drop us a call or message on WhatsApp. We’ll connect you with a property agent specialising in your location so you can get the best listings in the location of your choice. Or ask us anything on the Live Chat at the bottom, right-hand corner of the screen.
Before you sell, get a home valuation report
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