nday . The new model will classify future flats as Standard, Plus or Prime, doing away with the labels for mature and non-mature estates. Plus flats, which will be in “choicer” locations, will come with more subsidies but also tighter resale conditions including a 10-year minimum occupation period .
Mr Lee explained why setting a hard price cap on Plus and Prime flats, as suggested by some, could be “distortionary”; how the new framework aims to reduce social stratification; and why the 10-year MOP strikes a balance between strengthening the intent for owner occupation and giving home owners flexibility to move if they have genuine reasons.
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