{"id":29916,"date":"2019-10-03T18:29:56","date_gmt":"2019-10-03T10:29:56","guid":{"rendered":"https:\/\/www.99.co\/blog\/singapore\/?p=29916"},"modified":"2022-06-13T17:24:13","modified_gmt":"2022-06-13T09:24:13","slug":"7-newly-mop-ed-hdb-projects-worth-checking-out-in-2019","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/7-newly-mop-ed-hdb-projects-worth-checking-out-in-2019\/","title":{"rendered":"7 Newly MOP-ed HDB Projects Worth Checking Out in 2019"},"content":{"rendered":"
<\/div>

Newly MOP-ed flats appeal to largely to younger families or singles who want a new home without the wait. <\/strong><\/p>\n

With the Singapore government recently announcing an increase in grants<\/a> 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 \u2013 especially projects that have recently attained their Minimum Occupation Period<\/a> (MOP).<\/p>\n

 <\/p>\n

Why buy a newly MOP-ed HDB resale flat?<\/strong><\/h2>\n

Under HDB regulations, owners must live in a newly-bought HDB flat for five years before they are allowed to sell their property \u2013 a move intended to curb speculation and \u2018flipping\u2019. This applies to both Build-to-Order (BTO) and resale flats<\/a>.<\/p>\n

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.<\/p>\n

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.<\/strong><\/p>\n

At the very least, the newer a flat, the more resilient its value would be even if the economy or the property market doesn\u2019t do so well in the same time period.<\/p>\n

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:<\/p>\n

\"\"<\/p>\n

Source: 99.co\u2019s Researcher<\/a> tool<\/em><\/p>\n

Keen to scope out which new HDB projects have reached their MOPs? We\u2019ve compiled a list for you:<\/p>\n

 <\/p>\n

West Region<\/h2>\n

Newly MOP-ed HDB #1: Boon Lay Fields<\/strong><\/p>\n

Proof that a good location does not necessarily have to mean \u201cwalking distance to MRT\u201d<\/em><\/p>\n

Town: Jurong West
\nNumber of units: 491
\nUnit types: 3-room, 4-room, 5-room
\nBTO launch price (4-room): $270,000 – $321,000
\nAverage listed price (4-room): $494,000<\/p>\n

\"\"<\/p>\n

What\u2019s hot:<\/strong><\/p>\n