reporter2
04-06-15, 18:35
http://www.businesstimes.com.sg/real-estate/hdb-launches-record-9431-flats-for-sale-0
HDB launches record 9,431 flats for sale
Consultants expect the well-located Clementi Crest project to attract the most interest
By Lee Meixian
[email protected]@LeeMeixianBT
May 28, 2015
THE Housing & Development Board (HDB) on Wednesday launched a record 9,431 new flats for sale in 24 HDB towns and estates under its joint build-to-order (BTO) cum sale of balance flats (SBF) exercise.
SLP International executive director Nicholas Mak noted that this batch of BTO flats appears to be better located than others launched in the past two years, and yet prices are not significantly higher - "almost like the government is giving some sweetener".
With housing grants, the selling prices of two-room, three-room, four-room and five-room BTO/SBF flats start from S$15,000, S$102,000, S$203,000 and S$354,000 respectively.
Some 4,044 BTO flats will be offered across four projects in the non-mature towns of Punggol and Sembawang, and two projects in the mature towns of Clementi and Tampines. The first homes at Northshore District with smart technologies within the projects were also launched.
Consultants expect the Clementi Crest project to attract the most interest, given its good location within Clementi Town Centre, with many retail amenities nearby and walking distance to the MRT station to boot.
Northshore Residences I & II are also likely to appeal to buyers due to their waterfront locations, smart features and attractive prices.
But ERA Realty key executive officer Eugene Lim said that the BTO prices for Clementi Crest at S$478,000 to S$621,000 for four-room flats and S$576,000 to S$725,000 for five-room flats may come across as pricey for some. "Comparatively, older 99-year leasehold condos around the West Coast area are just below S$1 million for two-bedroom units and just above S$1 million for three-bedroom units," he said.
R'ST Research director Ong Kah Seng agreed that prices of BTO flats at Clementi Crest are "a little on the high side", which he attributed to limited land available for housing and development projects in the mature estate. He expects application rates of about 3-4.5 times.
Mr Mak from SLP expects higher. He recalled another BTO project, Clementi Gateway, launched in July 2012, which was located about 1km from the Clementi MRT Station, versus Clementi Crest's 250 metres.
"Already that was six times subscribed, so it should be at least six times subscribed too for Clementi Crest, even after taking into account that a large part of the BTO demand has already been met and the project is without smaller one- and two-bedroom units," he said.
HDB will additionally offer 5,387 balance flats in 11 non-mature and 13 mature towns/estates in this exercise.
Mr Lim from ERA said the huge launch will likely hurt resale demand in May and June as buyers are likely to be drawn to the 9,431 new flats. Buyers with more urgent housing needs may try for the SBF flats - 27 per cent of them are already completed and the rest are under construction - due to their shorter waiting time.
Application for the new flats launched can be submitted from May 27 to June 2.
In all, HDB has offered 13,426 flats for sale in the first half of 2015, it said. In August, it will offer about 4,860 BTO flats in Bidadari and Punggol Northshore.
HDB launches record 9,431 flats for sale
Consultants expect the well-located Clementi Crest project to attract the most interest
By Lee Meixian
[email protected]@LeeMeixianBT
May 28, 2015
THE Housing & Development Board (HDB) on Wednesday launched a record 9,431 new flats for sale in 24 HDB towns and estates under its joint build-to-order (BTO) cum sale of balance flats (SBF) exercise.
SLP International executive director Nicholas Mak noted that this batch of BTO flats appears to be better located than others launched in the past two years, and yet prices are not significantly higher - "almost like the government is giving some sweetener".
With housing grants, the selling prices of two-room, three-room, four-room and five-room BTO/SBF flats start from S$15,000, S$102,000, S$203,000 and S$354,000 respectively.
Some 4,044 BTO flats will be offered across four projects in the non-mature towns of Punggol and Sembawang, and two projects in the mature towns of Clementi and Tampines. The first homes at Northshore District with smart technologies within the projects were also launched.
Consultants expect the Clementi Crest project to attract the most interest, given its good location within Clementi Town Centre, with many retail amenities nearby and walking distance to the MRT station to boot.
Northshore Residences I & II are also likely to appeal to buyers due to their waterfront locations, smart features and attractive prices.
But ERA Realty key executive officer Eugene Lim said that the BTO prices for Clementi Crest at S$478,000 to S$621,000 for four-room flats and S$576,000 to S$725,000 for five-room flats may come across as pricey for some. "Comparatively, older 99-year leasehold condos around the West Coast area are just below S$1 million for two-bedroom units and just above S$1 million for three-bedroom units," he said.
R'ST Research director Ong Kah Seng agreed that prices of BTO flats at Clementi Crest are "a little on the high side", which he attributed to limited land available for housing and development projects in the mature estate. He expects application rates of about 3-4.5 times.
Mr Mak from SLP expects higher. He recalled another BTO project, Clementi Gateway, launched in July 2012, which was located about 1km from the Clementi MRT Station, versus Clementi Crest's 250 metres.
"Already that was six times subscribed, so it should be at least six times subscribed too for Clementi Crest, even after taking into account that a large part of the BTO demand has already been met and the project is without smaller one- and two-bedroom units," he said.
HDB will additionally offer 5,387 balance flats in 11 non-mature and 13 mature towns/estates in this exercise.
Mr Lim from ERA said the huge launch will likely hurt resale demand in May and June as buyers are likely to be drawn to the 9,431 new flats. Buyers with more urgent housing needs may try for the SBF flats - 27 per cent of them are already completed and the rest are under construction - due to their shorter waiting time.
Application for the new flats launched can be submitted from May 27 to June 2.
In all, HDB has offered 13,426 flats for sale in the first half of 2015, it said. In August, it will offer about 4,860 BTO flats in Bidadari and Punggol Northshore.