The latest BTO launch saw the sale of the second batch of HDB flats under the Prime Location Public Housing (PLH) model, called King George's Heights in Kallang/Whampoa. Notably, its pricing is lower compared to previous BTO launches in the area.
Orange Tee & Tie's senior vice-president of research and analytics Christine Sun noted that the prices seem to be slightly lower than previous BTO launches in Kallang/Whampoa. At their highest point, 4-room BTO flats at Kempas Residences were sold in 2019 at prices ranging from S$562,000 to S$674,000, with median prices at S$618,000. The latest launch at King George's Heights has 4-room flats priced from S$488,000 to S$675,000, with median prices at S$581,500.
Sun said that the lower pricing could be to compensate for the longer MOP (minimum occupation period) for PLH flats, which are subject to a 10-year MOP period before they can be be sold or rented out, and stringent buying and selling restrictions.