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828 new flats for Sengkang, Sembawang
http://www.straitstimes.com/Singapor...ry_502943.html
Mar 17, 2010
828 new flats for Sengkang, Sembawang
Build-to-order projects launched with 126 two-room units for poor
By Esther Teo
THE Housing Board has launched two build-to-order (BTO) projects that will deliver 828 new flats to the market.
The developments - Fernvale Ridge in Sengkang and Sembawang RiverLodge in Sembawang - comprise 266 three-room, 436 four-room and 126 five-room units.
Another 126 two-room flats in Sembawang RiverLodge will not be offered for sale. They will be set aside for lower-income families at a later date, said the HDB yesterday.
This is the first time the HDB has set aside flats. It said that two-room flats generally received fewer applications in BTO launches but they were central in helping families in financial difficulties get suitable housing.
The low-income group was placed in the spotlight recently during this month's Budget debate with several MPs asking whether this group had inadvertently been left out in the pursuit of growth and if substantial government support had been provided for them.
Yesterday's launch is part of a broader HDB plan to offer at least 12,000 new flats this year. So far 3,653 flats have been offered this quarter with a further 1,200 BTO units to be launched in Punggol next month. Future launches have been earmarked for estates such as Yishun and Woodlands. Construction on BTO projects is triggered once a certain level of sales has been achieved.
Sembawang RiverLodge comprises 86 three-roomers and 220 four-roomers and will be built along Sembawang Drive. Fernvale Ridge, bounded by Sengkang West Way and Fernvale Link, will offer 180 three-room units, 216 four-roomers and 126 five-room units.
Three-roomers of 65 sq m at Sembawang RiverLodge are priced between $128,000 and $166,000 while those at Fernvale Ridge will go for between $128,000 and $171,000.
Four-room flats of 90 sq m in Sembawang RiverLodge are going for between $212,000 and $268,000 while those at Fernvale Ridge will cost $216,000 to $271,000.
Five-roomers of between 110 sq m and 113 sq m in Fernvale Ridge in Sengkang will sell for $281,000 to $352,000.
PropNex chief executive Mohamed Ismail said the developments will be huge hits as the number of units offered this time around is only about half the 1,534 units offered during last month's BTO, even as buyer demand remains strong.
He expects both projects to be oversubscribed by at least eight times given their 'very attractive pricing' and close proximity to schools, a key selling point for young couples with children on the horizon.
'Recent BTOs have offered studio apartments which do not make much sense to a young couple who are looking to start a family, as they will be locked into the BTO flat for a further five years after collecting their keys,' he added.
The HDB said that this year's BTO supply will be supplemented by flats under the Design, Build and Sell Scheme (DBSS) as well as executive condominiums (ECs) to cater for higher-income buyers.
Besides the two EC sites offered for sale in January, the HDB will tender out another land parcel in Yishun Avenue 11 under the DBSS for a potential yield of 700 flats by next month. Applications for the new BTO flats can be made online at www.hdb.gov.sg until March 29.
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HDB offers 828 new BTO flats
http://www.businesstimes.com.sg/sub/...55940,00.html?
Published March 17, 2010
HDB offers 828 new BTO flats
Projects in Sengkang and Sembawang may see big demand
By EMILYN YAP
THE Housing and Development Board (HDB) is offering 828 flats in Sengkang and Sembawang through two new build-to-order (BTO) projects.
These are the first BTO projects to be launched after the government adjusted some public housing policies early this month.
HDB is gauging interest in the 522-unit Fernvale Ridge in Sengkang, and the 306-unit Sembawang RiverLodge. Fernvale Ridge, bounded by Sengkang West Way and Fernvale Link, will be near the Fernvale, Layar and Thanggam LRT stations. There will be 180 three-room flats, 216 four-room flats and 126 five-room flats.
The selling price for a five-roomer will range from $281,000 to $352,000. According to HDB, the price of a comparable five-room resale flat in the vicinity is $415,000 to $461,000.
The other BTO project, Sembawang RiverLodge, is at Sembawang Drive. The nearest MRT station is at Sembawang, where Sun Plaza is also located.
Of the 306 units available, 86 will be three-roomers and 220 will be four-roomers.
HDB added that the project is designed to house another 126 two-room flats, but it will set these aside 'to meet the housing needs of lower income families at a later date'.
A four-room flat at Sembawang RiverLodge will cost $212,000 to $268,000. The price of a comparable resale four-roomer nearby is $275,000 to $350,000.
PropNex CEO Mohamed Ismail expects both BTO projects to be popular and they could each be oversubscribed by at least eight times. One reason is because the sites will have three, four, or five-room flats - not studio apartments - which are suitable for young couples starting a family, he said.
Sembawang RiverLodge could stand out, he said. This is because residents will get 'a taste of waterfront living' with Sungei Sembawang nearby and the estate will have amenities such as a supermarket.
Applications for the new flats will close on March 29. With these two projects, HDB would have offered 3,653 new BTO flats in the first three months of the year. It plans to release 1,200 BTO flats in Punggol next month.
First-timer households comprising a Singapore citizen and permanent resident applying for flats will have to pay a $10,000 premium on top of HDB's selling price. The $10,000 will go back to them if the PR family member becomes a citizen, or if the couple has a child who is a citizen.
