Biggest-ever launch of new HDB flats

[mr funny]

http://www.businesstimes.com.sg/sub/suite/story/0,4574,392966-1278014340,00.html?

Published July 1, 2010

Biggest-ever launch of new HDB flats

Strong demand seen for 2,696 flats in Punggol, Sengkang due to low prices

By UMA SHANKARI


THE Housing and Development Board launched close to 2,700 new build-to-order (BTO) flats at Punggol and Sengkang yesterday - the largest number of such flats ever offered at one go.

A total of 2,696 flats are being offered at Waterway Terraces in Punggol, and Fernvale Foliage and Rivervale Arc in Sengkang.

The move comes as the flash estimate for the HDB resale price index is due to be released today. The index will show how much resale prices of HDB flats rose or fell in the second quarter of this year

'By releasing such a huge supply of new flats a day before the HDB resale price index flash estimate, HDB is sending a clear message of its commitment to keep housing available and affordable for first-time home-buyers,' said Eugene Lim, associate director of ERA Asia-Pacific.

With yesterday's launch, HDB has now launched a total of 8,828 new BTO flats for sale in the first six months of this year. This is equivalent to the BTO supply for the whole of last year.

Demand for the newly released flats is expected to be strong as their prices are low compared with those of nearby resale flats, analysts said. HDB has priced the new flats around 30-40 per cent less than the current resale prices of similar flats in the locality.

'Previous BTO flats were typically sold at 17 to 30 per cent cheaper than comparative flats in the respective vicinities of those BTO projects. And they were all over-subscribed,' said PropNex spokesman Adam Tan. 'Now, with even lower prices compared with similar resale flats, we can expect demand to increase.'

In Q1, resale flats in Punggol and Sengkang commanded cash-over-valuation sums that were slightly higher than the national average, demonstrating the popularity of flats in the two areas, Mr Tan said.

In particular, analysts expect the 1,072 premium flats at Waterway Terraces to be snapped up. The design for the project - the first public housing development along the upcoming Punggol waterway - was chosen after an international competition held last year. The winning design, by Group8asia and Aedas, incorporates many eco-friendly features.

'The flats next to the waterway are expected to be highly sought after,' said Mr Lim. 'Where else can you get waterfront housing at such affordable prices? We may see an oversubscription of five to six times for these flats.'

Prices at Waterway Terraces start from $186,000, $300,000 and $374,000 for three-, four- and five-room flats respectively.

The 2,696 flats comprise 238 two-room, 399 three-room, 1,585 four-room and 474 five-room units. As per HDB policy, 95 per cent of the supply will be set aside for first-time buyers.

HDB's plan is to launch at least 12,000 new BTO flats by September - and more if there is demand. Upcoming projects will have a good geographical spread, covering areas such as Bukit Panjang, Jurong West, Yishun and Woodlands, the agency said.

This month, HDB will launch about 1,000 BTO flats at Bukit Panjang and Jurong West.

[mr funny]

http://www.straitstimes.com/Singapore/Story/STIStory_547924.html

Jul 1, 2010

HDB launches 2,696 BTO flats

Record number of flats offered in single launch includes waterfront units

By Harsha Jethnani


THE Housing Board is offering the largest number of build-to-order (BTO) flats in one launch to date, with 2,696 flats up for grabs - including prized waterfront units in Punggol.

The projects being launched are: Waterway Terraces in Punggol, and Fernvale Foliage and Rivervale Arc, both in Sengkang.

A total of 95 per cent of units will be set aside for first-time buyers.

The latest batch brings the total number of new BTO flats in the past six months to 8,828. The HDB said that is equivalent to all of last year's BTO supply.

Under the BTO scheme, flats are built only when a certain level of demand for the project is met.

A first in public waterfront housing, Waterway Terraces will consist of 1,072 premium flats suitable for buyers willing to pay more for eco-friendly designs and features, the HDB said.

Prices start from $186,000 for three-room flats of 67 sq m, followed by $300,000 for four-room flats of 92 sq m and $374,000 for 112 sq m five-room flats. The development will be ready in the first quarter of 2015.

'Flat buyers with lower budgets can consider the standard flats at Fernvale Foliage and Rivervale Arc,' the HDB said.

To be completed in the second quarter of 2014, Fernvale Foliage's 504 flats start at $215,000 for four-room, 92 sq m units and $279,000 for five-room units which are 111 sq m in size.

The project is close to Fernvale and Thanggam LRT stations, which connect to Sengkang MRT station.

Rivervale Arc is at the corner of Tampines Expressway and Sengkang East Drive, within walking distance of Rumbia LRT station.

Prices start at $68,000 for two-room flats of 47 sq m; and $122,000 for three-room, 67 sq m units. Four-room units of 93 sq m start from $201,000. Units in this project will be ready in early 2014.

Even more BTO flats are on the way. The HDB aims to have at least 12,000 launched by September and more, if public demand requires it.

Next month, another 1,000 homes in Bukit Panjang and Jurong West will be launched. Homes in Yishun and Woodlands are also scheduled this year.

ERA Asia-Pacific associate director Eugene Lim expects units at Waterway Terraces to be five to six times oversubscribed. 'Where else can you get waterfront housing at such affordable prices?' he said yesterday.

The standard flats, at prices 30 to 40 per cent lower than resale prices of similar units in the vicinity, are very attractive, especially for first-time buyers, he added.

Consultants also say the large slew of new flats a day before the release of the HDB's latest resale price index estimates could indicate a further rise in the index.

The second-quarter flash estimates will be released today.

'When resale prices keep going up, those who opt for resale units may look out for BTO flats as well,' said Mr Colin Tan, research and consultancy director at Chesterton Suntec International.

Applications for the flats will close on July 13.

[email protected]

[Regulators]

punggol and sengkang cannot buy

[990113d03]

Punggol once was shun by hdb buyers but now more than 10 ppl are fighting for 1 unit in the new punggol waterway project. BTO price bought from HDB has raised from 5rm @ ~230k in yr 2003 to 458k now. 5 yrs later, a 458k waterway unit can sell 600k at least. Good investment. Y cannot buy?

[Allthepies]

Y cannot buy?

when u have lots of supply, resale value will not rise so fast :2cents:
mature estate will see a faster increase as new supply dwindle to zero :2cents:

[marktkt22]

actually, at a rate of average 1000 BTO flats per month, we will soon see flooding of HDB in next 3 years...:) ...

supply take time to come on board and when it mature...it hit big time..

[Regulators]

last time govt promise to develop punggol into watersports hub blar blar blar...see what it has become now? the whatever waterway is just a gimmick for the govt to offload flats in that lack lustre town that even macdonald's will shun. Go to punggol beach and see whether anyone actually lays a mat there for a picnic. if you even catch a fish at punggol jetty, i dare u to eat that chemical contaminated fish. walk around punggol especially at night and you will find that wierd smell everywhere and that is compliments of pasir gudang petrochemical plant.



Punggol once was shun by hdb buyers but now more than 10 ppl are fighting for 1 unit in the new punggol waterway project. BTO price bought from HDB has raised from 5rm @ ~230k in yr 2003 to 458k now. 5 yrs later, a 458k waterway unit can sell 600k at least. Good investment. Y cannot buy?

[Allthepies]

macdonald's will shun.

really no Macdonald in Punggol? :scared-4: I never been to Punggol before, if really no mac then something seriously wrong in the area....

[990113d03]

but all punggol bto buyers will get see substantial increase in value of their units after 5 years with the Punggol centre fully developed with shopping mall and waterway. There is nothing now (amenities) at Punggol but thats y the price has a lot of upside with the promise of so much by the government. Prices in punggol has raised a lot since early yr 2000. Many has used their punggol flat to upgrade to mass markt condos. The new Punggol waterway bto is 12 times over subscribed. Surely, all these demand for the bto cant be wrong. Think the reason its so hot is its location is so good, near punggol mrt and future punggol centre. Waterway and eco friendly features are sweeteners add in by hdb to sell at higher prices @ 458k for 5 rm. Bet, im not staying in punggol. just curious y punggol has become so popular when 2-3 years ago, no one wan btos in punggol and its always under subscribed.

[teddybear]

Not to pour cold water but ha ha ha! Punggol! Wait for another 5 years for the market to calm down and see where their prices will be? :cheers1:
Wait till public transport charge by distance (happening already);
Wait till ERP charges charge by distance your car travelled (going to happen in next few years).

Punggol, Sengkang, Buangkok, Hougang (not comprehensive list) all these places far from city, far from most people's work places, far from happening places, far from popular schools, will be hit with higher costs of everyday living! People will wake up to understand why they used to be so cheap in the past. :doh:


but all punggol bto buyers will get see substantial increase in value of their units after 5 years with the Punggol centre fully developed with shopping mall and waterway. There is nothing now (amenities) at Punggol but thats y the price has a lot of upside with the promise of so much by the government. Prices in punggol has raised a lot since early yr 2000. Many has used their punggol flat to upgrade to mass markt condos. The new Punggol waterway bto is 12 times over subscribed. Surely, all these demand for the bto cant be wrong. Think the reason its so hot is its location is so good, near punggol mrt and future punggol centre. Waterway and eco friendly features are sweeteners add in by hdb to sell at higher prices @ 458k for 5 rm. Bet, im not staying in punggol. just curious y punggol has become so popular when 2-3 years ago, no one wan btos in punggol and its always under subscribed.

[990113d03]

Compared to Woodlands, Choa chu kang, yishun, sembawang, bukit panjang which are already considered mature estate, punggol have overtaken the price of such far flunged estates when their amenities are still not built yet. The current prices are based on promise of future development in punggol. Look at the resale prices of punggol flats and one will be shocked how expensive they have become considering how cheap they once were when launched by hdb as bto.