Largest-ever BTO launch

[mr funny]

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1131586/1/.html

Largest-ever BTO launch

By Mustafa Shafawi | Posted: 27 May 2011 1717 hrs


SINGAPORE: The HDB is offering homebuyers close to 4,000 new flats in six Build-to-Order (BTO) projects launched on Friday - the largest supply of BTO flats in a single launch.

It surpasses the 3,185 BTO flats offered last month.

The BTO projects launched on Friday are at Costa Ris and Golden Lily in Pasir Ris, Punggol Parcvista, Tampines GreenLeaf, Tampines GreenWood, and Woodlands Peak.

At least 95 per cent of the public flat supply will be set aside for first-time buyers.

HDB said Friday's launch offers flats in various locations and sizes to meet the different needs of home-seekers - low-income families, those aspiring for something better, and the elderly.

Prices range from S$76,000 for a studio apartment and from S$335,000 for a 5-room unit.

First-time buyers can take advantage of various housing grants to reduce the cost of owning a new BTO flat.

For instance, households earning up to S$5,000 per month can apply for the Additional CPF Housing Grant (AHG) worth up to S$40,000, which can be used to offset the initial downpayment.

Over and above the AHG, first-timer families earning between S$1,501 and S$2,250 monthly can also apply for the Special CPF Housing Grant (SHG) if they choose to buy a 3-room standard flat in Punggol Parcvista and Woodlands Peak.

With Friday's launch, HDB has released about 12,000 BTO flats in the first five months of 2011. This is more than half of HDB's earlier target of launching 22,000 flats for 2011.

In view of strong demand, HDB is ramping up its flat supply by a further 3,000 flats for this year.

This increases the full-year's BTO supply for 2011 by about 15 per cent, to 25,000 units. This is more than the number of units in Clementi town today.

HDB had announced earlier that 22,000 new BTO flats will be launched this year. All of these will now be launched by September 2011 instead of by the end of the year.

The BTO supply will be supplemented by housing units offered under the Design, Build and Sell Scheme (DBSS) and the Executive Condominium (EC) Housing Scheme.

For 2011, land sites for 4,000 DBSS flats and 4,000 EC units are scheduled for sale.

- CNA/ir

[hyenergix]

The BTOs will hold the pte property prices in their vicinity steady. Better to avoid pte properties in areas where the BTOs are being launched now.

[ysyap]

The BTOs will hold the pte property prices in their vicinity steady. Better to avoid pte properties in areas where the BTOs are being launched now.No need lah... BTO reaches a different segment of society with income ceiling holding them in so no worries... it is those areas with ECs coming up that private condos need to beware a little more, especially after 5 years.. :spliff:

[linchong84]

No need lah... BTO reaches a different segment of society with income ceiling holding them in so no worries... it is those areas with ECs coming up that private condos need to beware a little more, especially after 5 years.. :spliff:

That time HDB say 4000 EC units worth of land will be released.. So far, tampines central there's 1.. Yesterday punggol released 1.. i heard hougang (punggol park) gonna have 1 too.. Must mark them on the map and draw 500m-1km radius as 'cannot touch' land..

Anyway, things aren't that bad anyway.. Livia just had a >1k psf subsale.. Kind of crazy, considering NV which is nearer to MRT is still 850-900psf, and other livia subsales <900 or 900psf.. That buyer kong kum?

[rattydrama]

KBW certaintly knows where the problem is...oversupply is coming.

76k to from 335k for 5rm ...erm 3x cheaper than mass market price. I want to buy.....demand of mass market should drop bah.

[hyenergix]

No need lah... BTO reaches a different segment of society with income ceiling holding them in so no worries... it is those areas with ECs coming up that private condos need to beware a little more, especially after 5 years.. :spliff:

True, more applicable for EC.

[jwong71]

76k to from 335k for 5rm.. in matured areas..?

wah.. 335k..? thats the price for a toa payoh 3i hdb.!!:scared-1:

make more sense to buy new flat now

[hyenergix]

KBW certaintly knows where the problem is...oversupply is coming.

76k to from 335k for 5rm ...erm 3x cheaper than mass market price. I want to buy.....demand of mass market should drop bah.

I'm worried about the rental units demand.

[rattydrama]

now from chiong to price sensitive mode....

somemore still got 40k grant for first time buyer if you qualify.

[ysyap]

That time HDB say 4000 EC units worth of land will be released.. So far, tampines central there's 1.. Yesterday punggol released 1.. i heard hougang (punggol park) gonna have 1 too.. Must mark them on the map and draw 500m-1km radius as 'cannot touch' land..

Anyway, things aren't that bad anyway.. Livia just had a >1k psf subsale.. Kind of crazy, considering NV which is nearer to MRT is still 850-900psf, and other livia subsales <900 or 900psf.. That buyer kong kum?Such kong kum individuals exists in every strata of our society... that recent $5800 psf unit sold? That record residential land bid in Bishan followed by a commercial land bid in Jurong??? Not forgetting that close to $1m HDB sold last year??? What can we say? :D

[hyenergix]

True, more applicable for EC.

http://news.xin.msn.com/en/singapore/article.aspx?cp-documentid=4878638

Third, for next year, we should sustain the new pace of building. As we intend to ease the $8,000 income ceiling on HDB flats, we can expect additional demand and we have to prepare for that.

Seems that even normal HDB will really also affect the condos. Better to avoid these BTOs altogether.

[yjcai]

Opening the floodgate for EC demand. There are a lot of people with condo dream, income exceed 10k and waiting hungrily as 2nd timer.

[ysyap]

Opening the floodgate for EC demand. There are a lot of people with condo dream, income exceed 10k and waiting hungrily as 2nd timer.Income ceiling might be raised to $12k but I'm sure more subsidies will accompany to entice these middle class to enter the EC market than to go for private coz govt need numbers to substatiate their record number of launches for ECs in 2011. :D

[devilplate]

http://news.xin.msn.com/en/singapore/article.aspx?cp-documentid=4878638

Third, for next year, we should sustain the new pace of building. As we intend to ease the $8,000 income ceiling on HDB flats, we can expect additional demand and we have to prepare for that.

Seems that even normal HDB will really also affect the condos. Better to avoid these BTOs altogether.
I actually see an advantage for mass market condos located near to new hdb bto clusters....when the bto reach 5yr mop, u can see lots of demand from upgradders:D

Die die avoid EC....cfm spoil market

[ysyap]

KBW already said build more than demand so if that's the case, it should not be BTO... Should be BTB (Build to Buy)... :)

[avo7007]

Should be BTB (Build to Buy)... :)

At this point, I believe KBW will consider all options.:)

It will be interesting to see what happen when the glut of private pty completion coincide with this new tide of HDB completion.:scared-4:

[devilplate]

At this point, I believe KBW will consider all options.:)

It will be interesting to see what happen when the glut of private pty completion coincide with this new tide of HDB completion.:scared-4:

next yr will be a golden window period

[irisng]

That time HDB say 4000 EC units worth of land will be released.. So far, tampines central there's 1.. Yesterday punggol released 1.. i heard hougang (punggol park) gonna have 1 too.. Must mark them on the map and draw 500m-1km radius as 'cannot touch' land..

Anyway, things aren't that bad anyway.. Livia just had a >1k psf subsale.. Kind of crazy, considering NV which is nearer to MRT is still 850-900psf, and other livia subsales <900 or 900psf.. That buyer kong kum?

I heard there is 1 EC coming up at Bukit Panjang area too.:beats-me-man:

[azeoprop]

http://sg.news.yahoo.com/blogs/singaporescene/hdb-ordered-ramp-building-flats-071846737.html

Looks like hdb will build flats first before the bto orders are filled! :scared-1:

[Geylang OKT]

KBW certaintly knows where the problem is...oversupply is coming.

76k to from 335k for 5rm ...erm 3x cheaper than mass market price. I want to buy.....demand of mass market should drop bah.

I sense a crash in the offing soon for mass market condos :D

[ysyap]

I sense a crash in the offing soon for mass market condos :DCrash is too strong a word but certainly there'll be a response. Even if prices does not plummet, it certainly will not climb much further...

[Localite]

I think Singapore will get into a two tier property market.

The GAP between HDB and condos may widen.

HDB makes up 80% of our ppty and then you have 20% made up of mass market condos and prime condos and landed.

So if the 80% has a supply crunch and we put more focussed resource and land towards that, then wouldn't that reduce the supply for the higher segments?

IMHO: HDB prices and mass market condo prices will drop. Prime condos and landed will continue to go up. Any views?

[devilplate]

I think Singapore will get into a two tier property market.

The GAP between HDB and condos may widen.

HDB makes up 80% of our ppty and then you have 20% made up of mass market condos and prime condos and landed.

So if the 80% has a supply crunch and we put more focussed resource and land towards that, then wouldn't that reduce the supply for the higher segments?

IMHO: HDB prices and mass market condo prices will drop. Prime condos and landed will continue to go up. Any views?

in the past, all segments rise or drop together rite.....but different segment lags behind of coz....i see this current bull run as a continuation of the 2006 bull run......in 06-07, ccr rise alot while hdb/mass market only started to rise just b4 subprime crisis emerge.....den 09, mass market/hdb resume its bull run till now(sort of playing catching up wif ccr ppty)....however, i wud say it oredi caught up ccr or even overshoot oredi....hehe

[ysyap]

in the past, all segments rise or drop together rite.....but different segment lags behind of coz....i see this current bull run as a continuation of the 2006 bull run......in 06-07, ccr rise alot while hdb/mass market only started to rise just b4 subprime crisis emerge.....den 09, mass market/hdb resume its bull run till now(sort of playing catching up wif ccr ppty)....however, i wud say it oredi caught up ccr or even overshoot oredi....heheCaught up ccr meaning in terms of percentage price increment or sales volume or absolute figures in psf?

[mr funny]

http://www.straitstimes.com/PrimeNews/Story/STIStory_673392.html

May 28, 2011

4,000 new flats

HDB launches largest batch of BTO units

By Mark Tay


THE single largest batch of Build-to-Order (BTO) flats ever offered by the Housing Board (HDB) was launched yesterday.

Nearly 4,000 new flats in six projects have been launched in Pasir Ris, Punggol, Tampines and Woodlands. Many are close to MRT stations and other facilities.

At least 95 per cent of the flats will be set aside for first-time buyers.

The latest offering of 3,957 flats lifts the total number of BTO flats launched in the first five months of this year to 12,000. The latest batch easily surpasses the 3,185 launched last month.

HDB is offering a wide range of flats for all budgets.

First-time buyers will be allowed to take advantage of the existing grants such as the Additional Central Provident Fund (CPF) Housing Grant.

Some buyers are also entitled to the Special CPF Housing Grant - only applicable when purchasing a three-room standard flat in Punggol Parcvista and Woodlands Peak.

Excluding grants, studio apartments will start from $76,000, three-room flats start from $166,000 and five-room units from $335,000.

The largest number of flats among the latest batch are four-roomers - 1,630 - while two-roomers are the fewest, at 353.

PropNex corporate communications manager Adam Tan said the move shows the Government has 'responded to the public's demand for affordable housing'.

'All the estates are rather well-developed and should see a huge take-up rate from potential buyers,' he added.

Mr Tan expects an oversubscription of the flats on offer as the BTO flats are being sold at lower prices than similar resale flats in those areas.

'The three-room flats in Tampines GreenLeaf and Tampines GreenWood, for example, are a whopping 35 per cent cheaper than resale flats in that town and should therefore be very popular with first-time buyers with a tight budget.'

The names of the projects are Costa Ris and Golden Lily in Pasir Ris, Punggol Parcvista, Tampines GreenLeaf, Tampines GreenWood and Woodlands Peak.

Applications can be lodged online until next Thursday.

[mr funny]

http://www.straitstimes.com/PrimeNews/Story/STIStory_673379.html

May 28, 2011

More HDB flats - and at a faster rate

Minister Khaw promises measures to help clear demand backlog

By Esther Teo, Property Reporter


NEW National Development Minister Khaw Boon Wan has wasted no time in addressing the backlog in demand for new Housing Board (HDB) flats.

He promised yesterday to build even more flats this year and next year, and get them ready faster.

A record 25,000 new flats will be built this year, up from earlier plans for 22,000, which was already a record.

He also committed to keeping up the new pace of building next year. This could mean launching an unprecedented 50,000 new HDB flats in just two years.

Buyers can also expect their keys sooner. Flats will be built 'ahead of order', a key shift from the build-to-order (BTO) system where the construction tender is called only after there are buyers for at least 70 per cent of the units launched.

Now, the HDB will call for a tender as soon as architectural drawings and tender documents are ready.

'Given robust demand, I told (HDB) to proceed to build, knowing that the orders will definitely come. In other words, build ahead of demand, during this period of demand backlog,' he wrote in his blog.

The HDB said it was in the process of determining how much waiting time this will save for flat buyers. Experts estimate that the change could see buyers getting their flats one to three months sooner.

It means the HDB will go ahead and build new flats regardless of the response. Previously, if the take-up was less than 70 per cent, construction would be delayed until that threshold was met.

The move builds on an earlier move to cut the waiting time for new flats - from the point of booking a flat to collecting the keys - to about 21/2 years.

Mr Khaw made clear though that building ahead of orders would only be a temporary measure to clear the demand backlog; the HDB would go back to the BTO approach once the situation stabilised.

For this year, 22,000 flats will be launched by September, while 3,000 flats originally scheduled for early next year will be brought forward.

Yesterday, HDB launched close to 4,000 new flats in six BTO projects - the largest batch in a single launch.

Mr Khaw said the bigger supply would help young couples own their homes as soon as possible so they could start a family, which is a national priority.

There are 15,000 first marriages each year among Singaporeans, a possible gauge of demand for new flats.

'As we intend to ease the $8,000 income ceiling on HDB flats, we can expect additional demand and we have to prepare for that,' Mr Khaw said.

He is keen to see more new couples get their first homes through BTO flats. About 70 per cent currently do so while the rest buy on the resale market, he said.

'This is not bad, but I think there is scope to do more. I think we should strive to have the vast majority of new couples start off their first set of homes in HDB, preferably via the BTO route.'

But even as the pace of building is ramped up, he emphasised the need to ensure that the quality of finish, workmanship and worksite safety stayed strong.

Responding to the minister's action to build more and build faster, experts said Mr Khaw was keeping his word to help young couples buy their first home.

But they said the change also underscored the size of the demand backlog.

ERA Realty key executive Eugene Lim warned, however, that even as the building pace is quickened, the HDB would have to be careful not to overbuild and end up with large stocks of unsold flats as had happened in the past.

'There are 10,000 more homes than... marriages yearly. Since 95 per cent of new flats must be sold to first-timers, the HDB will have to watch this closely to avoid having unsold homes.'

PropNex chief executive Mohamed Ismail welcomed the changes, as most recent BTO launches had been oversubscribed and many interested buyers were left on the waiting list.

Engineer Lee Wen Pin, 28, who is getting married in June next year, said: 'I think the change that sees the waiting time shortened is the most beneficial.

'A couple usually get married about two years after the proposal so any time saved that allows them to get a home sooner is always welcome.'

[email protected]

[mr funny]

http://www.straitstimes.com/News/Home/Story/STIStory_673759.html

May 29, 2011

4,000 BTO flats coming up in Zhenghua

New recreational areas, parks and more public transport services for residents are also in store, says MP

By Melissa Lin


Couples hoping to get their first homes through build-to-order (BTO) flats can look forward to an additional 4,000 units that will be coming up in Zhenghua in the next few years, said Mr Liang Eng Hwa, an MP for Holland-Bukit Timah GRC.

With more flats in the Bukit Panjang area, residents can also expect new amenities and more public transport services, added Mr Liang, who oversees the Zhenghua ward.

Last Friday, National Development Minister Khaw Boon Wan wrote in his blog that he had told the Housing Board to build flats ahead of demand.

Agreeing with Mr Khaw, Mr Liang said young couples have told him that they would like to get their flats early.

He was speaking on the sidelines of a completion ceremony for Segar Meadows, a newly completed BTO project in Segar Road. It was the first post-general election completion ceremony for BTO flats.

The event saw Mr Liang and fellow Holland-Bukit Timah GRC MP Vivian Balakrishnan hand over keys to 20 families who bought units in Block 456, the final block to be completed.

There were exhibition booths set up by various agencies to create awareness of matters relevant to new residents, such as how to be good neighbours.

Besides the new BTO flats, Mr Liang said, there will be new recreational areas and parks for residents.

'We don't just want concrete blocks, we want some green spaces too,' he said.

First-time home owner Frederick Toh said he waited four years from the time he successfully balloted for his flat to collect his keys.

The engineering designer, who hopes to move into his four-room flat by the end of next month, said not having his own space delayed him from having children.

This is why the waiting time for flats should be shortened to two years, reckoned Mr Toh, who has a 16-month-old son, Tristan, with his wife Criscelia Lim, 28.

After getting married in 2005, the couple stayed in two locations - his parents' Yishun flat and his in-laws' Bukit Panjang flat.

At least three BTO projects in Bukit Panjang are due to be completed over the next few years. They are the 528-unit Segar Grove in Segar Road, the 741-unit Senja Gateway in Woodlands Road, and the 577-unit Senja Parc View in Senja Road.

[email protected]