Newly MOP-ed flats appeal to largely to younger families or singles who want a new home without the wait.
With the Singapore government recently announcing an increase in grants for first-time buyers of resale HDB flats, we expect at least some home-seekers to set their sights (i.e. budgets) higher when home hunting. In the coming months, we could be seeing a boost in demand for newer HDB flats – especially projects that have recently attained their Minimum Occupation Period (MOP).
Why buy a newly MOP-ed HDB resale flat?
Under HDB regulations, owners must live in a newly-bought HDB flat for five years before they are allowed to sell their property – a move intended to curb speculation and ‘flipping’. This applies to both Build-to-Order (BTO) and resale flats.
For BTO projects, the entire cluster of blocks will tend to hit MOP at around the same time. Once this happens, there will inevitably be a handful of first-time owners looking to cash in a profit for their unit, thanks to the below-market-value price of flats sold in BTO sales launches.
With around 94 out of 99-years of lease remaining, newly MOP-ed flats certainly appeal to buyers, especially among younger families and singles alike who want a new flat without the wait, while getting a remaining lease that can last their lifetimes with potential for upside in a 5- to 15-year time frame.
At the very least, the newer a flat, the more resilient its value would be even if the economy or the property market doesn’t do so well in the same time period.
So even though newly MOP-ed HDB flats command a significant price premium over older flats, there are still buyers able and willing to pay the extra money. This is the case with Clementi, where new flats typically command a 50% price premium or more compared to older flats:
Source: 99.co’s Researcher tool
Keen to scope out which new HDB projects have reached their MOPs? We’ve compiled a list for you:
West Region
Newly MOP-ed HDB #1: Boon Lay Fields
Proof that a good location does not necessarily have to mean “walking distance to MRT”
Town: Jurong West
Number of units: 491
Unit types: 3-room, 4-room, 5-room
BTO launch price (4-room): $270,000 – $321,000
Average listed price (4-room): $494,000
What’s hot:
- Blocks in this development resemble point blocks, with a low unit-to-floor ratio of minimum 4 units per level (maximum 6)
- Blocks are spaced relatively far apart so you don’t feel the need to close your curtains all the time
- Nearly half of the units here are Southeast-facing, hence avoiding exposure to the afternoon sun
- Largely unblocked views for Northwest and Southeast-facing units
- Service yards don’t face the corridor; some even offer panoramic views
- At the doorstep of daily necessities; just across the street from Boon Lay Shopping Complex and Boon Lay Place Food Village (Power Nasi Lemak anyone?)
- Walking distance to River Valley High School
- Within 1km of Boon Lay Garden Primary School, Rulang Primary School and Lakeside Primary School
What’s not:
- A minimum 10-minute walk from the nearest MRT station (Lakeside MRT)
View all Boon Lay Fields units for sale
North Region
Newly MOP-ed HDB #2: Montreal Ville
A recreational haven for those who love peace and quiet
Town: Sembawang
Number of units: 578
Unit types: 2-room, 3-room, 4-room
BTO launch price (4-room): $255,000 – $310,000
Average listed price (4-room): $425,000
What’s hot:
- Quiet and tranquil living environment
- Many Southeast-facing units with no exposure to the afternoon sun, ever
- Mid-to-high floor southeast-facing units also enjoy a permanently unblocked view over landed housing cluster across the road
- Walking distance to upcoming integrated sport and community hub, Bukit Canberra
- Canberra might be the property location to watch in the coming years
What’s not:
- Currently, only 3 out of 5 blocks have only one primary school (Wellington Primary School) within 1km, although URA has allocated land for at least two more
- Outside of walking distance to upcoming Canberra MRT
- Daily necessities not immediately accessible
View all Montreal Ville units for sale
Newly MOP-ed HDB #3: Yishun Riverwalk
A large development with childcare facilities
Town: Yishun
Number of units: 1,408
Unit types: Studio, 3-room, 4-room, 5-room
BTO launch price (4-room): $214,000 – $268,000
Average listed price (4-room): $420,000
What’s hot:
- Food court, mini-mart, shops and childcare centre within the project
- Walking distance to Junction 9, a compact shopping mall with a full range of shops, including a Sheng Siong supermarket
- Slightly more space between blocks compared to the nearby, newly MOP-ed Yishun Greenwalk
- Within 1km of 3 to 4 primary schools, depending on which block
What’s not:
- A 10- to 15-minute feeder bus ride to Yishun Town Centre (Northpoint City; Yishun MRT)
View all Yishun Riverwalk units for sale
East Region
Newly MOP-ed HDB #4: Costa Ris
Pasir Ris Town’s one and only BTO project so far
Town: Pasir Ris
Number of units: 1,386
Unit types: 2-room, 3-room, 4-room, 5-room
BTO launch price (4-room): $294,000 – $347,000
Average listed price (4-room): $550,000
What’s hot:
- Pasir Ris has ample recreational amenities (Pasir Ris Park, Downtown East etc.)
- Food court, supermarket (Sheng Siong), shops and preschool/kindergarten within the project
- Most blocks within 7-minute walking distance to Pasir Ris Central (White Sands, Pasir Ris MRT)
- Many Northwest- and North-facing units that avoid the afternoon sun
- Property in Pasir Ris might present further upside the coming years, with an upcoming integrated hub at Pasir Ris Central and Cross Island Line MRT development
- Future Pasir Ris MRT (Cross Island Line) station to border the northern edge of Costa Ris with station entrance and underground connection to Pasir Ris Central
What’s not:
- Blocks located nearer to Pasir Ris Central are sited quite a distance from the Multi-Storey Car Park, which is near the southern end of the project. Drivers take note
- Blocks closer to Pasir Ris Central have only one primary school within 1km (Elias Park Primary)
- Blocks mostly quite densely packed
- Units facing main road and Tampines Expressway might present noise concerns
- Pasir Ris is a relatively new estate built in the early 90s; these earlier, cheaper Pasir Ris flats are typically more spacious and can still be considered quite new
View all Costa Ris units for sale
Newly MOP-ed HDB #5: Tampines Greenleaf
No other BTO project is as near to Tampines Town Centre as this
Town: Tampines
Number of units: 960
Unit types: 2-room, 3-room, 4-room, 5-room
BTO launch price (4-room): $320,000 – $361,000
Average listed price (4-room): $595,000
What’s hot:
- Preschool/kindergarten within development
- Walking distance to Tampines MRT Station (Downtown Line)
- Walking distance to Our Tampines Hub
- Walking distance to Sun Plaza Park
- All blocks within 1km of Poi Ching School
- Potential future commercial developments around Tampines Downtown Line MRT station
What’s not:
- Few units with unblocked view
- Slightly beyond walking distance to/from Tampines Town Centre (Shopping Centres, Offices, East West Line MRT station)
- Blocks in the northern half of the project only have one primary school within 1km
View all Tampines Greenleaf units for sale
North-East Region
Newly MOP-ed HDB #6: Punggol Emerald
A development with ample communal landscaped spaces and within touching distance of Punggol MRT station
Town: Punggol
Number of units: 856
Unit types: 2-room, 3-room, 4-room, 5-room
BTO launch price (4-room): $262,000 – $323,000
Average listed price (4-room): $505,000
What’s hot:
- Within walking distance of Punggol MRT station and Bus Interchange
- LRT station (Soo Teck) at doorstep, for those feeling lazy
- Within walking distance of Waterway Point
- Ample communal landscaped spaces, including a large common green en route to the MRT station
- Some units get a glimpse of the swimming pool of a neighbouring condominium
- A convenience store and a clinic within the development
- Preschool/kindergarten, food court and shops at adjacent developments
- Within 1km of two primary schools currently
- Future primary and secondary school right across the road
What’s not:
- Many units face Northwest with exposure to afternoon sun
View all Punggol Emerald units for sale
Newly MOP-ed HDB #7: Fernvale Riverbow
An idyllic setting along Sungei Punggol, a legit river (not a longkang)
Town: Sengkang
Number of units: 1,154
Unit types: 3-room, 4-room, 5-room
BTO launch price (4-room): $246,000 – $315,000
Average listed price (4-room): $460,000
What’s hot:
- Idyllic riverfront living with a number of river-facing units
- Scenic park connector leading to Punggol Waterway
- Ample common landscaped areas within development
- Walking distance to Layar MRT station
- Within walking distance of Seletar Mall and upcoming community hub at Fernvale
- At least three primary schools within 1km distance of development
- At the doorstop of Pei Hwa Secondary School
- Childcare and preschool/kindergarten within development
- Permanent unblocked views for units along southern boundary of the development (overlooking low-rise condo and landed estate)
What’s not:
- About 10-15 minutes away from Sengkang MRT and Town Centre via LRT; consider Anchorvale Isles if you would like to be nearer
- Planned roads on the southern edge of the development and across the river might diminish the serenity of the place
View all Fernvale Riverbow units for sale
Do you prefer a BTO or a resale HDB flat unit? Voice your thoughts in our comments section or on our Facebook community page.
Want to connect with qualified leads? List your property on Singapore’s fastest growing property portal 99.co! Your clients can also access a wide range of tools to calculate your down payments and loan repayments, to help with your presentations.
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