8,000 SBF, BTO flats up for sale

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http://www.businesstimes.com.sg/arch...-sale-20130531

Published May 31, 2013

8,000 SBF, BTO flats up for sale

8 BTO projects are in Choa Chu Kang, Hougang, Jurong West, Sembawang and Woodlands

By ong chor hao


THE Housing and Development Board (HDB) has put 8,000 flats up for sale in a joint Build-to-Order (BTO) and Sale of Balance Flats (SBF) exercise.

It will offer 4,900 BTO units in eight projects across five non-mature estates: Choa Chu Kang, Hougang, Jurong West, Sembawang and Woodlands.

The remaining 3,100 are balance flats spread across 26 mature and non-mature estates.

For the BTO projects, Keat Hong Crest along Choa Chu Kang Avenue 1 will offer 682 three-room to five-room flats. Starting prices range from $140,000 to $308,000, depending on the size of the flats.

Two projects are in Hougang:

The first is Golden Mint along Buangkok Green, which will offer 292 studio apartments priced from $76,000.

The other is Hougang Crimson along Hougang Avenue 9, which will have 314 three-room and four-room units.

Prices start at $171,000 for three-room flats, and at $268,000 for the four-room ones.

In Jurong, Spring Haven @ Jurong on Jurong West Street 42 offers 478 two-room to four-room flats. Prices start at $94,000 for the two-room units and $260,000 for the four-room flats.

Christine Li, the head of research and consultancy at OrangeTee, said: "Spring Haven @ Jurong could be a hit with the buyers because the last BTO launch for bigger flats (three- and four-room) in Jurong West was way back in March 2011."

She noted that BTO prices for these two types of flats in the area have stayed largely the same in that time, but median resale prices have risen by more than 15 per cent.

In Sembawang, three projects were launched.

They are EastBank @ Canberra, EastBrook @ Canberra and EastWave @ Canberra. They are adjacent parcels situated between Sembawang Road and Sungei Simpang Kiri.

A total of 2,116 two-room to five-room units are up for sale. Prices start at $82,000 for two-room flats, and $314,000 for the five-room units.

The final project in the latest BTO exercise is in Woodlands, along Woodlands Crescent.

Named Woodlands Pasture I and II, the development offers 1,018 three-room to five-room flats, with starting prices ranging from $133,000 to $276,000.

As for the flats offered under the SBF exercise, they come in varying sizes and are spread out across the island, so their prices vary from a $145,000 two-room flat in Pasir Ris to a $760,000 executive flat in Queenstown.

Three new housing measures kick in for this latest launch by HDB.

First, the Parenthood Priority Scheme is now extended to married couples expecting their first child and are buying their first flat.

They will benefit from a quota of 30 per cent of BTO flats and half of SBF units set aside for them; previously, this allotment was only for married couples with a Singaporean child under 16 years old and buying their first flat.

Second, HDB has doubled the quota of two- and three-room flats in non-mature estates, set aside for second-time buyers who wish to downsize, from 15 per cent to 30 per cent.

Of this 30 per cent quota, five per cent will be reserved for divorcees or widows with children below 16 years old.

Under the third new scheme, HDB will set aside half the studio apartments from its launches for elderly buyers who wish to downsize from their current home nearby or to be near their married children.

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http://www.straitstimes.com/archive/...ale-20130531-0

HDB releases 8,000 flats for sale

New rules kick in to help groups like couples expecting a baby get a unit

Published on May 31, 2013

By Daryl Chin Property Correspondent


THE Housing Board yesterday put a bumper crop of 8,000 flats on the market.

The highly anticipated launch will see new measures kick in to help couples expecting a child, second-timers and divorcees seeking to downgrade, and seniors looking for a studio apartment get a flat.

But with 3,100 balance flats on offer, including coveted units in Queenstown, Toa Payoh and Pinnacle@Duxton in central Singapore, property analysts are urging home seekers to choose carefully given the expected high demand.

"By widening the net of eligibility, we expect to see a strong response for the choice balance units," said Mr Nicholas Mak, head of research at property firm SLP International. "But it's a double-edged sword for these applicants due to increased competition, so they need to weigh their chances carefully."

Balance flats are more sought after as they are either already built or close to completion, unlike Build-To-Order (BTO) units which may involve a wait of up to three years.

The 3,100 balance units being offered are spread out across many towns. But notable units include a $769,000 five-room flat at Pinnacle@Duxton, considered to be one of HDB's most up- market developments with high resale value, according to analysts.

Also on the market is an 18-year-old repurchased executive apartment in Mei Ling Street that spans more than 1,600 sq ft and costs $760,000.

International Property Advisor chief executive Ku Swee Yong said balance flats in mature estates are a good deal as they are cheaper than resale flats in those areas. "Buyers should play it smart in selecting their flat to avoid disappointment," he said.

The 4,900 BTO units being offered are in Choa Chu Kang, Hougang, Jurong West, Sembawang and Woodlands.

OrangeTee's head of research Christine Li said the Spring Haven@Jurong development, where two-room to four-room flats are being offered, will also attract plenty of demand.

"The last time larger flats were offered in this area was more than two years ago, and resale prices have appreciated more than 10 per cent since," she said.

Demand for the 8,000 flats, especially the balance ones, is expected to be spurred by the enhanced Parenthood Priority Scheme (PPS), which began in January. Part of a swathe of initiatives to reverse falling birth rates, it sets aside 30 per cent of BTO flats for first-timer married couples with a child below 16.

The quota is 50 per cent when it comes to balance flats. This is the first time since the start of PPS that balance flats are offered.

Starting this launch, the scheme will also cover first-timer couples with a baby on the way.

The quota of two- and three-room BTO flats in nonmature estates reserved for second-timers also goes up from 15 per cent to 30 per cent this launch. A part of this quota - 5 per cent - will be set aside for divorcees with children below 16.

In addition, the Studio Apartment Priority Scheme will see half of all studio apartments on offer reserved for seniors who want a unit close to their current home, or near their married children.

Prices for the 4,900 BTO flats start from $82,000 for a 480 sq ft two-roomer in Sembawang, which drops to just $22,000 when grants are included. A five-room BTO flat can reach $381,000 without grants. Balance flats start from $148,000 for three-room units in non-mature estates.

Applications close next Wednesday.

First-timer Daniel Woon, 25, who was eyeing a flat in Ang Mo Kio as it was close to his parents' place, said he needs to be careful about making his choice. "There's a week to consider, so I'll see how demand is before going in, otherwise I might miss the boat."

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