mr funny
25-03-11, 23:21
http://www.businesstimes.com.sg/sub/news/story/0,4574,431865,00.html?
Published March 25, 2011
HDB launches 1,527 flats in Jurong West, Sengkang
By UMA SHANKARI
THE Housing & Development Board (HDB) launched 1,527 new build-to-order (BTO) flats in two projects in Jurong West and Sengkang yesterday.
The projects - Boon Lay Fields in Jurong West and Compassvale Ancilla in Sengkang - will offer 224 studio apartments, 233 three-room flats, 666 four-room flats and 404 five-room units.
HDB has ramped up its new flat supply significantly to meet demand. It plans to offer up to 14,000 new BTO flats in the first half of 2011. And for the whole of 2011, it can offer up to 22,000 new BTO flats if demand is sustained, the agency said.
In addition to boosting supply, HDB has also halved the time taken to invite applicants to select their flats.
The agency will inform applicants of their ballot results within three weeks of the launch and selection of flats will start from the fourth week onwards, instead of the ninth week previously.
Prices at Boon Lay Fields range from $168,000 to $199,000 for a three-room flat; $270,000 to $321,000 for a four-room flat; and $334,000 to $391,000 for a five-room flat.
Units in Compassvale Ancilla are somewhat pricier. Studio apartments will be sold for $77,000 to $112,000; three-room flats for $194,000 to $232,000; four-room flats for $303,000 to $359,000; and five-room flats for $375,000 to $444,000.
PropNex chief executive Mohamed Ismail said that the project at Sengkang is expected to be more popular due to the fact that no studio apartments are available in the estate now.
'Although the BTO flats are only 12 per cent to 19 per cent cheaper than a resale flat within the same region, interest could still be high as they can avoid paying the cash-over-valuation (COV) component, which is currently $20,000 in Sengkang. Therefore, you can expect an oversubscription rate of four times in Sengkang,' he said.
At Boon Lay Fields, by contrast, prices are not just lower than those in the resale market but are also relatively cheap as BTO flats go, Mr Ismail said.
The project's affordability means that the flats are also likely to be oversubscribed, he added.
Published March 25, 2011
HDB launches 1,527 flats in Jurong West, Sengkang
By UMA SHANKARI
THE Housing & Development Board (HDB) launched 1,527 new build-to-order (BTO) flats in two projects in Jurong West and Sengkang yesterday.
The projects - Boon Lay Fields in Jurong West and Compassvale Ancilla in Sengkang - will offer 224 studio apartments, 233 three-room flats, 666 four-room flats and 404 five-room units.
HDB has ramped up its new flat supply significantly to meet demand. It plans to offer up to 14,000 new BTO flats in the first half of 2011. And for the whole of 2011, it can offer up to 22,000 new BTO flats if demand is sustained, the agency said.
In addition to boosting supply, HDB has also halved the time taken to invite applicants to select their flats.
The agency will inform applicants of their ballot results within three weeks of the launch and selection of flats will start from the fourth week onwards, instead of the ninth week previously.
Prices at Boon Lay Fields range from $168,000 to $199,000 for a three-room flat; $270,000 to $321,000 for a four-room flat; and $334,000 to $391,000 for a five-room flat.
Units in Compassvale Ancilla are somewhat pricier. Studio apartments will be sold for $77,000 to $112,000; three-room flats for $194,000 to $232,000; four-room flats for $303,000 to $359,000; and five-room flats for $375,000 to $444,000.
PropNex chief executive Mohamed Ismail said that the project at Sengkang is expected to be more popular due to the fact that no studio apartments are available in the estate now.
'Although the BTO flats are only 12 per cent to 19 per cent cheaper than a resale flat within the same region, interest could still be high as they can avoid paying the cash-over-valuation (COV) component, which is currently $20,000 in Sengkang. Therefore, you can expect an oversubscription rate of four times in Sengkang,' he said.
At Boon Lay Fields, by contrast, prices are not just lower than those in the resale market but are also relatively cheap as BTO flats go, Mr Ismail said.
The project's affordability means that the flats are also likely to be oversubscribed, he added.