Nearly 4,000 new flats on offer

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Nearly 4,000 new flats on offer

Punggol units could see more buzz than those in Sengkang, Bukit Batok

Published on Mar 22, 2013

By Rachel Chang


THE Housing Board has rolled out close to 4,000 new flats, with 470 in Punggol, the new town that has generated lots of buzz recently.

Experts expect the four- and five-room units there to be the most popular picks of the flats launched yesterday. Prices of the Punggol flats start from $294,000 for the four-room units, and $363,000 for the five-roomers.

But the other offerings, in Bukit Batok and Sengkang, could draw lower interest than normal, warned experts, as some buyers may adopt a wait-and-see approach as plans are being made to reduce the prices of new flats.

Yesterday's launch of Build-to-Order (BTO) projects is the HDB's second this year.

It is also the first time since last July that the Government has offered new flats in Punggol, which is being developed into a new centre of waterfront living.

A report last October showed median resale prices of flats there rising at 3.7 per cent, higher than the national average of 2.3 per cent, in a trend that analysts believe will accelerate.

But experts added that Punggol could well prove to be the only hot spot in the latest launch offering, as some buyers turn more cautious about taking up BTO flats in non-mature estates.

Yesterday's launch was the first since National Development Minister Khaw Boon Wan promised to bring down new flat prices in non-mature estates by 30 per cent. He had made it clear that the cheaper flats would come with restrictions to differentiate them from current BTO units.

With the details still to be revealed, buyers may hold back, said DWG senior manager Lee Sze Teck.

And as reports have emerged of delays in the completion of BTO projects, some might also choose to wait for the upcoming Sale of Balance Flats exercise instead, as these units have already been built. The HDB said yesterday that 3,000 flats will be available in the exercise in May.

Church worker Hwang E-wan, 30, and her fiance, said they would hold back. "We are also waiting to see what the Government will do to bring prices down," she said. "The more affordable, the better."

Yesterday's launch was also the last one this year before a new initiative to cater to those looking to buy their second flat from HDB kicks in. In May, the quota of new two- or three-room flats for second-timers will double, from 15 per cent to 30 per cent.

This is to help financially vulnerable families downgrade with ease, Mr Khaw said during the Budget debate earlier this month.

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Published March 22, 2013

3,898 BTO flats launched in non-mature estates

Another 7,850 units, including 3,000 SBF, to be made available for balloting in May

By ong chor hao


THE Housing & Development Board (HDB) has launched close to 3,900 Build-to-Order (BTO) flats, with another 7,850 flats to be made available for balloting in May.

The four latest projects released yesterday were in three non-mature towns: Bukit Batok, Punggol and Sengkang. They will comprise studio apartments and two-room to five-room flats.

SkyPeak @ Bukit Batok is located between Bukit Batok Street 21 and Bukit Batok East Avenue 6. It has 1,430 units of two-room to five-room flats. Starting prices range from $117,000 to $411,000.

Matilda Portico is bounded by Punggol Field and Punggol Way, and offers 470 flats of four-room and five-room units. Prices start from $294,000. The final two projects in Sengkang are Compassvale Cape and Compassvale Helm.

Compassvale Cape is located along Compassvale Crescent, near Cheng Lim LRT station. It has 1,400 flats comprising studio apartments as well as three-room to five-room flats. The studio apartments are priced from $88,000, while the flats start from $189,000 for a three-room unit.

Compassvale Helm sits between Compassvale Bow and Buangkok Drive, near Buangkok MRT Station. It has 598 flats comprising studio apartments, as well as four-room and five-room units. Prices start at $88,000 for studio apartments, and $304,000 for a four-room flat.

Lee Sze Teck, senior manager for training, research and consultancy at DWG, said the flats might not appeal to some buyers as they are in non-mature estates.

He expects two to three applicants for each unit at most of the projects, except for Compassvale Helm, where he predicts application rates of three to four.

The application rate for the first BTO exercise of the year in January of more than 3,300 flats was 3.8 as at Feb 4, HDB data showed.

Mr Lee said Compassvale Helm is near a mature estate in Hougang, which has many amenities. It is located near several schools and close to retail options, and the MRT station is less than five minutes away. Another 4,850 BTO flats will be released in May in Choa Chu Kang, Hougang, Jurong West, Sembawang and Woodlands, the HDB said yesterday. This will go together with the launch of 3,000 other flats in a Sales of Balance Flats (SBF) exercise.

Some homebuyers may hold back their purchasing decision until then, Mr Lee reckons. "The recent reports on delays in construction might result in some buyers opting to wait for May's SBF launches."

The HDB plans to launch 25,000 BTO flats for the year.