Public housing flats in the Central area are pretty rare, not only in Singapore but also in most global gateway cities. As subsidised public housing, the proximity of flats like these challenges prime district condos in terms of convenience and accessibility.
But in Singapore, they come with a unique set of tradeoffs, such as age and lease decay.The new Prime classification flats come with restrictions such as a 10-year Minimum Occupancy Period (MOP).
In theory, Central area flats should not easily lose their premium pricing, since there are no other public housing alternatives that can boast the convenience and appeal of a central location.
But we see that this does happen, and this week we took a deep dive into why some central area flats don’t maintain their higher pricing.
What we’ll examine in this study
By Central Area, we’re referring to HDB flats in Rochor, Outram, Marina East, Marina South, Newton, Orchard, River Valley, and the Singapore River precinct.
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