OrangeTee has expressed support for several initiatives announced during the Ministry of National Development’s (MND) Committee of Supply debate, highlighting the potential benefits for developers, public rental families, and seniors. The company noted that extending the Additional Buyer’s Stamp Duty (ABSD) remission deadline for developers could lead to improved construction standards, particularly for larger, complex projects near MRT stations.
However, challenges remain, such as the success of en bloc sales and market conditions affecting high-end projects reliant on foreign buyers.
The increase in the Fresh Start Housing Grant is seen as a positive move to help public rental families achieve homeownership, potentially fostering stronger communities and enhancing social equity. OrangeTee believes this initiative will lower financial barriers for first-time buyers, especially low-income families.
For seniors, the expansion of the Silver Housing Bonus (SHB) to include private properties with an annual value between US$15,400 (S$21,000) and US$22,800 (S$31,000) offers a chance to improve retirement planning and financial stability. Despite cultural hesitations, the scheme aims to protect seniors’ finances by ensuring funds for retirement and medical care.
The upcoming Build-To-Order (BTO) project at Mount Pleasant is expected to attract significant interest. OrangeTee anticipates the area could become as desirable as Toa Payoh or Bishan, with its central location, proximity to the MRT, and surrounding greenery. The project’s classification as a Plus development could see prices for 4-room flats ranging from US$330,000 (S$450,000) to over US$515,000 (S$700,000). Demand is expected to be strong, mirroring high application rates seen in previous BTO launches.
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