September 28, 2023

Improve Our Home

Full record of HDB BTO tasks hitting MOP in 2023 (and must you promote proper after MOP?)

4 min read

One of many key elements of shopping for an HDB flat is that after finishing the flat buy (aka the important thing assortment), you’ll must occupy the flat for a sure variety of years. This era, often known as the Minimal Occupation Interval (MOP), normally lasts 5 years. (For Prime Location Public Housing (PLH) flats, it’s 10 years.)

When the MOP ends, you’re allowed to

With that, we’ve used Prospector, one in every of our agent instruments, to compile a listing of BTO tasks which might be set to MOP this yr. As these tasks have been anticipated to TOP in 2018, they need to be finishing their MOP in 2023.

Venture title HDB property Variety of models Flat varieties
West Terra @ Bukit Batok Bukit Batok 1,793 2-room (Kind 1 and Kind 2), 3-room, 4-room, 5-room
Meadow Spring @ Yishun Yishun 469 2-room (Kind 1 and Kind 2), 3-room, 4-room
Cheng San Courtroom Ang Mo Kio 712 Studio Residences (Kind A and Kind B), 3-room, 4-room
Buangkok Sq. Hougang 725 2-room (Kind 1 and Kind 2), 3-room, 4-room
Solar Natura Sembawang 848 2-room (Kind 1 and Kind 2), 3-room, 4-room
Yung Ho Spring I, Yung Ho Spring II Jurong West 641 + 266
  • Yung Ho Spring I: 2-room (Kind 1 and Kind 2), 3-room, 4-room
  • Yung Ho Spring II: 2-room (Kind 1 and Kind 2), 3-room
West Crest @ Bukit Batok Bukit Batok 495 2-room (Kind 1 and Kind 2), 4-room, 5-room
Solar Breeze Sembawang 700 2-room (Kind 1 and Kind 2), 3-room, 4-room
Punggol Bayview Punggol 1,096 3-room, 4-room, 5-room, 3Gen
Buangkok Tropica Hougang 718 2-room (Kind 1 and Kind 2), 3-room, 4-room
Anchorvale Fields Sengkang 511 2-room (Kind 1 and Kind 2), 3-room, 4-room
West Rock @ Bukit Batok Bukit Batok 448 4-room, 5-room, 3Gen
West Valley @ Bukit Batok Bukit Batok 870 2-room (Kind 1 and Kind 2), 3-room, 4-room
Toa Payoh Apex Toa Payoh  557 3-room, 4-room
Buangkok ParkVista Hougang 485 2-room (Kind 1 and Kind 2), 3-room, 4-room
West Ridges @ Bukit Batok Bukit Batok 1,578 2-room (Kind 1 and Kind 2), 3-room, 4-room, 5-room
Blossom Spring @ Yishun Yishun 650 2-room (Kind 1 and Kind 2), 3-room, 4-room
EastLink II @ Canberra Sembawang 1,041 2-room (Kind 1 and Kind 2), 3-room, 4-room
Fengshan Greenville  Bedok  1,058 Studio Residences (Kind A and Kind B), 3-room- 4-room, 5-room
Marsiling Greenview Sembawang 1,304 2-room, 3-room, 4-room, 5-room, 3Gen
Bukit Gombak Vista  Bukit Batok 286 Studio Residences (Kind A and Kind B), 3-room

Must you promote proper after MOP?

For a lot of householders, finishing the five-year mark implies that it’s time to promote the flat. As a rule, you may promote it for a tidy revenue, particularly provided that the flat was initially priced with subsidies.

What’s extra, by promoting the flat proper after the MOP, you’re extra prone to get the next acquire out of the sale.

It is because the flat is just 5 years outdated, with round 94 years of remaining lease and continues to be in good situation. It makes the flat way more fascinating to patrons, as they in all probability don’t must spend a lot on renovation.

For example, again in November, we reported {that a} 5-room BTO flat in Canberra that not too long ago accomplished its MOP was bought for S$745,000. At the moment, it was a report value for a 5-room resale flat in Sembawang.

What’s notable concerning the transaction is that its value throughout the BTO launch ranged from S$315,000 to S$373,000. Which means that the house owners made a paper acquire of S$372,000 to S$430,000, or round 100% to 137%.

(As of writing, this report has been damaged by one other not too long ago MOP-ed 5-room flat, when it was bought earlier this month for S$760,000.)

We’ve additionally come throughout resale flat transactions of not too long ago MOP-ed flats that bought double their BTO value.

SELLING YOUR PROPERTY? Would you wish to know the way a lot your property is price? Or possibly you’re contemplating itemizing your property on the market? Let us know, and we’ll have a consultant reach out to you!

However extra importantly, don’t rush to unload your flat

On the identical time, earlier than you place your HDB flat up on the market, take a step again and take into consideration the subsequent step in your homeownership journey.

Ask your self why you’re trying to promote. Is it solely due to the excessive paper acquire or the necessity to transfer nearer to your child’s main college? Are you trying to transfer to a much bigger flat or a apartment?

For example, in the event you’re planning to improve to a apartment, guarantee it’s inside your monetary means. Not like HDB flats the place you’ve gotten the extra choice of an HDB mortgage, the one financing choice accessible for condos is financial institution loans.

In comparison with HDB loans, the utmost financing you may take for financial institution loans is 75% of the acquisition value or valuation, whichever is decrease.

Which means that with a apartment buy, you’ll must cope with the upper value and down cost of 25%, of which 5% needs to be paid in money.

Apart from the housing mortgage, don’t neglect to make preparations for momentary lodging, particularly in the event you’re trying to promote your BTO first earlier than shopping for your subsequent dwelling, or if the subsequent dwelling isn’t prepared but.


In the event you discovered this text useful, recommends Which property varieties to improve to after promoting your first BTO? and What an HDB second-timer should know earlier than deciding to promote. 

Copyright © All rights reserved. | Newsphere by AF themes.