New Reporter
21-06-24, 13:04
HDB launches nearly 7,000 BTO flats in June exercise
Analysts expect demand to rise ahead of new Build-To-Order classification system
Jun 19, 2024
A TOTAL of 6,938 flats across eight projects were launched for sale on Wednesday (Jun 19) by the Housing and Development Board (HDB) under its June 2024 Build-To-Order (BTO) exercise.
New flats available in this exercise are in Jurong East, Kallang/Whampoa, Queenstown, Tampines, Woodlands and Yishun. Flat types range from two-roomers to five-roomers. Excluding grants, starting prices range from S$120,000 for a two-room flexi flat in Teban Breeze to S$582,000 for a four-room flat in Holland Vista.
With this latest exercise being the final one before a new BTO classification system kicks in in October, market watchers expect to see higher demand in this round.
Flats launched from October 2024 will be classified under the Standard, Plus or Prime categories, replacing the current classification of mature and non-mature estates.
Ismail Gafoor, chief executive officer of PropNex, sees some buyers waiting for the October launch instead, when HDB is expected to release flats in attractive locations, including Bayshore, Kembangan and Ang Mo Kio.
About half of the flats offered in June have a waiting time of four years or less. Applicants for Marsiling Peak I will wait less than three years, while those applying for Tampines GreenTopaz face a waiting time of about three years.
Two projects – Tanjong Rhu Riverfront I and II (in Kallang/Whampoa) and Holland Vista (in Queenstown) – are offered under the Prime Location Public Housing (PLH) model, with additional subsidies for their higher pricing.
HDB will also be giving out more in additional subsidies to ensure that the PLH projects in this month’s exercise remain affordable.
In line with the PLH model, owners selling their flats in the future will have their subsidy clawed back. For the two PLH projects launched in June, the subsidy recovery rate will be at 9 per cent to match the extent of the additional subsidies provided.
Huttons Asia’s senior director of data analytics Lee Sze Teck said that the Tanjong Rhu development could be the “most exciting” PLH launch since River Peaks I and II near the Jalan Besar MRT station were launched in November 2021. He anticipates strong demand for the 2,063 flats on offer.
Mohan Sandrasegeran, head of research and data analytics at Singapore Realtors Inc (SRI), expects stiff competition for the Holland Vista project as it “offers the smallest number of units” in this exercise with only 342 flats.
Eligible first-timer families may apply for the Enhanced Central Provident Fund Housing Grant (EHG) of up to S$80,000. HDB said this will allow flat buyers to purchase a three-room flat at S$132,000 and a four-room flat at S$219,000 in the non-mature estates of Woodlands and Yishun, respectively.
In the mature estate of Tampines, prices after grants start from S$400,000 for a four-roomer. Christine Sun, OrangeTee Group’s chief researcher and strategist, projects “high demand” for the Tampines flats and noted that there is an upcoming government land sales plot adjacent to the site. This will feature a sizeable commercial space, providing more amenities for residents in the area, she added.
Market watchers are mixed on the demand for flats in non-mature estates.
Huttons Asia’s Lee said that BTOs in Woodlands often see good interest and pointed out that Marsiling Peak I has the shortest waiting time in the June exercise.
While ERA Singapore’s key executive officer Eugene Lim noted that the development is situated in a newer and less developed location, he said buyers can expect new amenities to come up in the future. The development is near Woodlands Checkpoint, with Woodlands and Woodlands North MRT stations about 2 km away.
The Chencharu Hills project in Yishun, the first BTO in Khatib in over 10 years, could see fresh interest, analysts said. It will be a large development offering more than 1,200 units in a new estate.
As for the Teban Breeze project in Jurong East, Huttons Asia’s Lee expects pent-up demand, given that many flats in the estate are more than 40 years old.
Sun reckoned that the two-room flexi flats in the exercise may generate “a lot of interest” as singles are not eligible to apply for two-room flexi BTO flats until the October exercise.
The next BTO exercise will be launched in October 2024. HDB will offer about 8,500 flats in Ang Mo Kio, Bedok, Bukit Batok, Geylang, Jurong West, Kallang/Whampoa, Pasir Ris, Sengkang and Woodlands. The exercise will also include 260 Community Care Apartment units in Geylang.
The bumper crop of flats to be offered in October will make it the biggest BTO exercise since November 2022, when 9,655 flats were launched, said SRI’s Sandrasegeran.
In October, HDB will also be introducing a new white flat layout at a project in the Kallang/Whampoa town comprising 310 units of three-roomers and four-roomers, where owners can design and personalise the flat based on their needs and preferences.
“The unique design and attractive location of these flats will likely garner positive response,” said Sandrasegeran.
https://www.businesstimes.com.sg/property/hdb-launches-nearly-7000-bto-flats-june-exercise
Analysts expect demand to rise ahead of new Build-To-Order classification system
Jun 19, 2024
A TOTAL of 6,938 flats across eight projects were launched for sale on Wednesday (Jun 19) by the Housing and Development Board (HDB) under its June 2024 Build-To-Order (BTO) exercise.
New flats available in this exercise are in Jurong East, Kallang/Whampoa, Queenstown, Tampines, Woodlands and Yishun. Flat types range from two-roomers to five-roomers. Excluding grants, starting prices range from S$120,000 for a two-room flexi flat in Teban Breeze to S$582,000 for a four-room flat in Holland Vista.
With this latest exercise being the final one before a new BTO classification system kicks in in October, market watchers expect to see higher demand in this round.
Flats launched from October 2024 will be classified under the Standard, Plus or Prime categories, replacing the current classification of mature and non-mature estates.
Ismail Gafoor, chief executive officer of PropNex, sees some buyers waiting for the October launch instead, when HDB is expected to release flats in attractive locations, including Bayshore, Kembangan and Ang Mo Kio.
About half of the flats offered in June have a waiting time of four years or less. Applicants for Marsiling Peak I will wait less than three years, while those applying for Tampines GreenTopaz face a waiting time of about three years.
Two projects – Tanjong Rhu Riverfront I and II (in Kallang/Whampoa) and Holland Vista (in Queenstown) – are offered under the Prime Location Public Housing (PLH) model, with additional subsidies for their higher pricing.
HDB will also be giving out more in additional subsidies to ensure that the PLH projects in this month’s exercise remain affordable.
In line with the PLH model, owners selling their flats in the future will have their subsidy clawed back. For the two PLH projects launched in June, the subsidy recovery rate will be at 9 per cent to match the extent of the additional subsidies provided.
Huttons Asia’s senior director of data analytics Lee Sze Teck said that the Tanjong Rhu development could be the “most exciting” PLH launch since River Peaks I and II near the Jalan Besar MRT station were launched in November 2021. He anticipates strong demand for the 2,063 flats on offer.
Mohan Sandrasegeran, head of research and data analytics at Singapore Realtors Inc (SRI), expects stiff competition for the Holland Vista project as it “offers the smallest number of units” in this exercise with only 342 flats.
Eligible first-timer families may apply for the Enhanced Central Provident Fund Housing Grant (EHG) of up to S$80,000. HDB said this will allow flat buyers to purchase a three-room flat at S$132,000 and a four-room flat at S$219,000 in the non-mature estates of Woodlands and Yishun, respectively.
In the mature estate of Tampines, prices after grants start from S$400,000 for a four-roomer. Christine Sun, OrangeTee Group’s chief researcher and strategist, projects “high demand” for the Tampines flats and noted that there is an upcoming government land sales plot adjacent to the site. This will feature a sizeable commercial space, providing more amenities for residents in the area, she added.
Market watchers are mixed on the demand for flats in non-mature estates.
Huttons Asia’s Lee said that BTOs in Woodlands often see good interest and pointed out that Marsiling Peak I has the shortest waiting time in the June exercise.
While ERA Singapore’s key executive officer Eugene Lim noted that the development is situated in a newer and less developed location, he said buyers can expect new amenities to come up in the future. The development is near Woodlands Checkpoint, with Woodlands and Woodlands North MRT stations about 2 km away.
The Chencharu Hills project in Yishun, the first BTO in Khatib in over 10 years, could see fresh interest, analysts said. It will be a large development offering more than 1,200 units in a new estate.
As for the Teban Breeze project in Jurong East, Huttons Asia’s Lee expects pent-up demand, given that many flats in the estate are more than 40 years old.
Sun reckoned that the two-room flexi flats in the exercise may generate “a lot of interest” as singles are not eligible to apply for two-room flexi BTO flats until the October exercise.
The next BTO exercise will be launched in October 2024. HDB will offer about 8,500 flats in Ang Mo Kio, Bedok, Bukit Batok, Geylang, Jurong West, Kallang/Whampoa, Pasir Ris, Sengkang and Woodlands. The exercise will also include 260 Community Care Apartment units in Geylang.
The bumper crop of flats to be offered in October will make it the biggest BTO exercise since November 2022, when 9,655 flats were launched, said SRI’s Sandrasegeran.
In October, HDB will also be introducing a new white flat layout at a project in the Kallang/Whampoa town comprising 310 units of three-roomers and four-roomers, where owners can design and personalise the flat based on their needs and preferences.
“The unique design and attractive location of these flats will likely garner positive response,” said Sandrasegeran.
https://www.businesstimes.com.sg/property/hdb-launches-nearly-7000-bto-flats-june-exercise