1,200 BTO flats for sale

[mr funny]

http://www.straitstimes.com/Breaking%2BNews/Singapore/Story/STIStory_442950.html

Oct 16, 2009

1,200 BTO flats for sale

By Felicia Wong

http://www.straitstimes.com/STI/STIMEDIA/image/20090701/Flat-NuriaLing.jpg
This batch of 1,200 BTO flats are part of the upcoming 5,000 units announced earlier this month. -- ST PHOTO: NURIA LING

THE Housing Board (HDB) on Friday launched two more build-to-order (BTO) projects in Sengkang and Jurong West, which will offer a total of 1,200 flats.

Fernvale Palms at Sengkang West Way will have 495 units in four 27-storey blocks, according to the HDB's website. The bulk of the units will be four-room flats, along with 92 three-room flats and 52 five-room units.

The other project, Boon Lay Meadow in Jurong West Avenue 2, will offer 705 units. The project comprises 240 two-room flats, 300 three-roomers and 165 four-room flats.

Prospective buyers can expect to fork out between $214,000 and $262,000 for a four-room unit at Fernvale Palms, or from $223,000 to $266,000 for a similar unit at Boon Lay Meadow.

The two BTO projects will supply part of the 5,000 new flats announced by National Development Minister Mah Bow Tan earlier this month. The HDB said it will launch six more BTO projects comprising 4,000 flats in the next two months.

Applications for the new flats can be submitted online from Friday to Oct 29. For enquiries, the public can e-mail [email protected]


Prices of the new flats:

Selling prices for the flats range from:

Fernvale Palms

- $129,000 to $163,000 for a 3-room flat;

- $214,000 to $262,000 for a 4-room flat; and

- $282,000 to $340,000 for a 5-room flat

Boon Lay Meadow

- $86,000 to $103,000 for a 2-room flat;

- $138,000 to $173,000 for a 3-room flat; and

- $223,000 to $266,000 for a 4-room flat

[xebay11]

Boon Lay Meadow

Wah sounds really atas man.

[sleek]

Wah sounds really atas man.

Lucky not Meadows @ Boon Lay. :D

[xebay11]

In 5 years time, I can rent Boon Lay Meadows for my foreign workers.

[Property_Owner]

In 5 years time, I can rent Boon Lay Meadows for my foreign workers.

WOW, so you are a TAO KAY.....:D :D :D

[xebay11]

WOW, so you are a TAO KAY.....:D :D :D

Chey admin officer lah!

[Reporter]

http://www.938live.sg/App_Themes/938LIVE/images/logo.jpg
High demand for Sengkang, Jurong BTO units on first day of sale
938 LIVE
Friday, 16 October 2009, 2223 hrs

http://www.channelnewsasia.com/imagegallery/store/php4vyOTY.jpg
Fernvale Palms in Sengkang

Two Built-To-Order (BTO) housing projects were launched on Friday, offering 1,200 flats in Sengkang and Jurong West.

On the first day of sale, the Housing and Development Board (HDB) received 501 applications for the units.

Located near two LRT stations, it is no wonder flat buyers are drawn to the 495 flats available at Fernvale Palms in Sengkang.

An interested buyer said: "By the time the flat is ready (in three or four years), the place should be more or less established. At the same time, it allows me and my future wife (time) to save up after our marriage.

"I think it's cheaper than the resale flats because you don't have to pay the COV. And resale flats tend to be (more expensive) because the sellers tend to sell at high prices."

Prices range from S$129,000 to S$163,000 for a three-room flat, and S$214,000 to S$262,000 for a four-room flat in Sengkang. A five-room flat costs between S$282,000 and S$340,000.

Over in Jurong West, home buyers can choose from 705 units at Boon Lay Meadows. Prices range from S$86,000 to S$103,000 for a two-room flat, and S$138,000 to S$173,000 for a three-room unit. A four-room flat is priced between S$223,000 and S$266,000.

Industry players said they expect high demand for both projects, with Jurong West being the more popular of the two.

Mohd Ismail, chief executive officer at PropNex Realty said: "These 1,200 BTO standard flats that have been launched on Friday is very welcoming news because this will give certainty in terms of owning the property come next three to four years.

"Unlike the other completed flats, BTO flats have got better opportunities for someone to be successful ... even looking at the pricing, I think it is attractively priced.

"Jurong West, a relatively mature estate, will again have strong demand, especially from a lot of new families who want to stay closer to their parents. Probably, we can expect a stronger demand from Jurong West than Sengkang."

HDB said that most households will not need to use cash to meet their monthly mortgage payments based on the income of flat applicants in the first half of this year.

First-time buyers of these two new projects are expected to use between 18 and 24% of their monthly household income to meet their monthly loan commitments.

The BTO flats are part of the supply of 5,000 new flats announced by National Development Minister Mah Bow Tan earlier this month.

Applications for these two BTO projects end on October 29.

[mr funny]

http://www.businesstimes.com.sg/sub/premiumstory/0,4574,355053-1255809540,00.html?

Published October 17, 2009

HDB launches 2 build-to-order projects

Market watchers expect demand for the Sengkang and Jurong West flats to be good

By UMA SHANKARI


THE Housing and Development Board launched two build-to-order (BTO) projects yesterday.

Fernvale Palms in Sengkang and Boon Lay Meadow in Jurong West will offer a total of 1,200 standard flats.

The new flats form part of the 5,000 new supply that National Development Minister Mah Bow Tan announced on Oct 1.

Fernvale Palms is a standard contract offering a total of 495 units comprising 96 three-room, 347 four-room and 52 five-room flats. Selling prices for the Sengkang flats range from $129,000 to $163,000 for a three-room flat, and $214,000 to $262,000 for a four-room unit.

A five-room flat will cost between $282,000 and $340,000. The property is located near two Light Rail Transit stations, HDB said.

Another 705 units will be available at Boon Lay Meadow in Jurong West estate. They will be made up of 240 two-room, 300 three-room and 165 four-room flats.

Two-room flats in the project will go for $86,000 to $103,000, three-room flats will go for $138,000 to $173,000 and four-room flats will cost $223,000 to $266,000.

Boon Lay Meadow is served by two Mass Rapid Transit stations, Boon Lay and Lakeside, HDB said.

Market watchers said that the demand for the flats is expected to be good. 'The flats look very attractive,' said Eugene Lim, associate director for ERA Asia Pacific. 'These are obviously targeted at first-time buyers, who should find them affordable.'

HDB expects that first-time flat buyers will need to use 18-24 per cent of their monthly household income to meet their monthly loan commitments for these two projects.

'This is well below the 30 per cent international benchmark for affordable housing,' said the agency.

Flat buyers can look forward to more BTO launches over the next two months. HDB will be launching six more BTO projects with 4,000 flats in November and December. These projects will be located in towns such as Punggol, Bukit Panjang, Sembawang and Dawson.

Earlier this month, HDB announced plans to ramp up its supply of new flats to meet increased demand for public housing. The news came as flash estimates showed that prices of resale HDB flats rose 3.2 per cent in the third quarter, which analysts attributed to the greater demand for resale flats in recent months.

[mr funny]

http://www.straitstimes.com/Singapore/Story/STIStory_443243.html

October 17, 2009 Saturday

HDB launches two new BTO projects

1,200 flats planned for Sengkang and Jurong West

By Esther Teo


THE Housing Board has launched two build-to-order (BTO) projects - Fernvale Palms in Sengkang and Boon Lay Meadow in Jurong West - that will deliver 1,200 new flats to the market.

The developments form the initial tranche of the supply of 5,000 new units announced by National Development Minister Mah Bow Tan early this month.

Six other BTO projects, comprising 4,000 flats in total, are expected to be launched over the next two months in towns such as Punggol, Bukit Panjang, Sembawang and Dawson in Queenstown estate.

The addition of so many new flats will offer young couples looking for their first homes greater choice and certainty, the HDB said yesterday.

The two projects launched yesterday are made up of 240 two-room, 396 three-room, 512 four-room and 52 five-room units.

Fernvale Palms, with 495 three-, four- and five-room units, will be built on Sengkang West Way, near Fernvale and Thanggam LRT stations and a short drive from the Tampines Expressway.

Boon Lay Meadow, which will be within the established Jurong West estate and near the Pan-Island Expressway, will have 705 units of two-, three- and four-room flats.

The HDB said the new flats are being sold below their equivalent market prices.

Five-room flats of 110 sq m in Fernvale Palms are going for between $282,000 and $340,000, while four-room units of 90 sq m in Boon Lay Meadow are priced between $223,000 and $266,000.

According to the HDB, premium five-room resale flats in the Fernvale Palms area cost between $369,000 and $450,000, while four-room units similar to those at Boon Lay Meadow are selling for between $290,000 and $330,000.

Ngee Ann Polytechnic real estate lecturer Nicholas Mak said buyers should take into account the trade-off between a lower price and the ease of accessibility and location.

He said that HDB prices are lower because buyers have to be compensated for the waiting time. Under the BTO scheme, projects are built when a certain demand is reached, and flats typically take three to four years to be completed.

The HDB said that based on the income of flat applicants in the first half of this year, it is expected that most households will not need to use cash to meet their monthly mortgage payments. Their CPF contributions will be able to fully cover the costs.

Eligible first-timers with an average monthly household income of $5,000 or less can also apply for the Additional CPF Housing Grant (AHG) of up to $40,000. This was introduced in 2006 to provide lower-income earners with extra help to offset the initial downpayment.

Applications for the new flats can be submitted online at www.hdb.gov.sg until Oct 29.

[email protected]