by OrangeTee & Tie Pte Ltd.

Kallang PLH launch surprises with lower median pricing than nearby BTO flats

BTO Launches

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.

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