http://www.businesstimes.com.sg/sub/...73359,00.html?

Published January 12, 2012

HDB offers 3,923 new flats in year's first BTO launch

By UMA SHANKARI


THE Housing and Development Board (HDB) launched five new build-to-order (BTO) projects yesterday, offering 3,923 new flats in Choa Chu Kang, Punggol, Sengkang and Tampines.

This is the first BTO launch of 2012. In total, HDB plans to offer 25,000 BTO units for the entire year.

The government agency also added that in March 2012, it will offer another 4,110 new flats for sale in Bedok, Bukit Batok, Bukit Panjang, Bukit Timah, Clementi, Geylang and Toa Payoh.

Analysts said that take-up for the flats in the current launch is likely to be reasonable, although some potential buyers might choose to wait for the March launch, which will offer more HDB flats in mature estates.

'This launch could be overshadowed by the next round, which has a lot of flats in mature estates,' said ERA Realty's key executive officer Eugene Lim. 'But the take-up (for this launch) will still be fairly decent, especially for the flats in Tampines and Choa Chu Kang.'

Market watchers also noted that the flats in the current launch are priced very attractively. At the two Tampines projects - Tampines Alcoves and Tampines GreenTerrace - prices of four-room flats start from $292,000. Inclusive of CPF housing grants, prices start from $277,000.

In contrast, a resale four-room HDB flat in Tampines could go for around $450,000, Mr Lim said.

In line with HDB policy, at least 95 per cent of the flat supply (excluding studio apartments) will be set aside for first-timer households - that is, applicants who have neither bought a flat directly from HDB nor received a CPF housing grant previously.

Market watchers also noted that the take-up rate could increase for future launches if a higher percentage of new flats are set aside for second-timers.

Right now, just 5 per cent of new flats are for second-timers, but National Development Minister Khaw Boon Wan said in November last year that HDB intends to tweak the balloting rules to enhance the chances for second-timers.