Punggol BTO project launched
http://www.businesstimes.com.sg/sub/...25603,00.html?
Published March 27, 2009
Punggol BTO project launched
THE Housing & Development Board (HDB) yesterday launched a build-to-order (BTO) project at Punggol - the second of the year after one launched at Woodlands in February.
The 519-unit Nautilus @ Punggol, at the junction of Punggol East and Punggol Field, will have 413 four-room flats and 106 five-room flats.
Four-room flats will sell for $228,000-$274,000, while five-room flats will cost $305,000-$357,000. These prices are cheaper than those of similar flats in the market, which makes them affordable for first-time buyers, HDB said. Nautilus units are priced lower than recent BTO launches there mainly because of differences in location and design, it said.
Recent offerings Punggol Arcadia and Punggol Regalia are premium projects with enhanced designs and better internal finishes, while Nautilus is a standard project with more basic features. Nautilus is also further from the town centre and main transport than the other two BTO projects.
Nevertheless, analysts expect solid demand. 'Nautilus is expected to be popular,' said Propnex spokesman Adam Tan. The flats are 'very attractively priced'.
Recent BTO offerings by HDB have seen strong demand. The Woodlands BTO project launched last month was more than four times subscribed.
And two other projects launched late last year - one in Choa Chu Kang and the other in Punggol - also saw good take-ups.
HDB intends to launch about 3,000 flats in Punggol this year as part of plans to remake the estate.
HDB launches new batch of flats in Punggol
http://www.straitstimes.com/Singapor...ry_355101.html
March 27, 2009 Friday
HDB launches new batch of flats in Punggol
Units are smaller and cheaper due to design and location
By Jessica Cheam
The Housing Board (HDB) yesterday launched its first batch of new Punggol flats for the year.
Units are priced at 10 to 16 per cent below the launch of Punggol Regalia in December, primarily due to location and design features.
The flats are slightly smaller and 'further from the town centre and main transportation nodes', said an HDB statement yesterday.
The Nautilus @ Punggol is a standard project - essentially new flats with minimal frills and basic features.
On offer are 413 four-roomers of 90 sq m going for $228,000 to $274,000 and 106 five-roomers of 110 sq m priced from $305,000 to $357,000.
The Nautilus, consisting of eight blocks of 18 storeys each, is on the eastern side of the suburb and further from the Punggol town centre.
It is served by the Riviera and Coral Edge LRT stations.
In contrast, Punggol Regalia, located at a prime spot next to Punggol MRT station , is a premium project priced at $252,000 to $316,000 for a four-room unit and $342,000 to $428,000 for a five-room unit.
Premium flats come with enhanced architectural designs and better internal finishes.
PropNex chief executive Mohamed Ismail said he expected healthy demand for the Nautilus although it 'may not be as good as' the response to HDB's Woodlands project launched last month.
Called Champions Court, that development offered 815 units, ranging from studio apartments to five-room flats.
ERA Asia-Pacific's associate director Eugene Lim said the Nautilus is 'very attractively priced' although its location may not be as alluring as previous Punggol projects.
In the long term, however, Punggol's transformation into a waterfront town will draw first-time home owners, he said.
The Nautilus will be constructed under the HDB's build-to-order (BTO) scheme where flats are built only if a certain level of demand is reached.
The HDB has said it plans to launch about 3,000 BTO flats in the first half of this year.
These include 1,400 smaller units, from studio apartments to three-roomers.
Buyers are likely to see more new flats in Punggol this year as the HDB moves to build up the suburb's population.
A site called Punggol Residences, next to Punggol MRT station, was recently marked as being under construction on Singapore Land Authority maps.
By 5pm yesterday, the HDB had received 72 applications for the 519 Nautilus flats.
In contrast, Champions Court attracted 205 applications for 815 flats on the first day of its launch.
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