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- Aug 20, 2022
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The resale restrictions on prime and plus flats are unfair to younger generations as much as they are needed
When new HDB flats near Caldecott MRT were announced, Chee HT said there would be a mixed development nearby similar in scale to Woodleigh mall at Bidadari. The plans also include a neighbourhood park also like in Woodleigh.
Today, resale prices at Bidadari have risen quickly after they reached MOP, and I would have expected the new btos at Caldecott to follow the same trajectory. Both are located quite closely to the city, and both were also relatively undeveloped until bto flats were built.
Problem is, these flats will definitely be under prime just like Toa Payoh Ascent right beside it (launched in 2025) which means there’ll be income ceiling for resale and longer MOP. So buyers today will find it harder to profit off their homes unlike buyers just 10 years ago when Bidadari was first launched.
I understand that these restrictions are necessary to prevent home prices from becoming too expensive, but it also means that younger generations have fewer ways to build their wealth.
