http://www.straitstimes.com/archive/...aunch-20140327

3,497 new flats in latest HDB launch

Included are cheapest two-room units - as low as $10,000 with max grants

Published on Mar 27, 2014

By Rachel Au-Yong


IN THIS year's second new public housing launch, the Housing Board released 3,497 flats amid supply tapering, some 350 units more than January's Build-to- Order (BTO) exercise.

Yesterday's launch also saw the cheapest two-room flat since the Special Housing Grant (SHG) took effect in February 2011. The SHG, which disburses up to $20,000, is given to low- and middle-income first-timers applying for flats in non-mature estates.

Located in Sembawang, the 36 square metre unit can go for as low as $10,000, with maximum grants.

"Sembawang is sandwiched in between two popular towns, Woodlands and Yishun," said SLP International research head Nicholas Mak.

"Its not-so-accessible location may explain why it's cheaper."

On offer this round is a range of two- to five-roomers across four projects in the non-mature towns of Sengkang, Sembawang and Yishun, bringing the total number of new flats offered for sale this year to 6,636.

The variety is meant to "meet the diverse housing needs of first- timers, second-timers, multi-generation families, and singles", the HDB said in a press release.

As with all new public housing launched since the start of the year, this round of flats will have eco-features like centralised recycling chutes.

And even though prices of resale flats are expected to continue moderating, this fresh batch of flats should still be fairly well-received, said R'ST Research director Ong Kah Seng.

"Interest will come from applicants who are cost-sensitive and can afford to wait for the BTO to complete, like young couples planning ahead for marriage," he said.

One such couple is nurse Chandra Govindanvela and her fiance. The 23-year-old plans to marry in 2016 and has applied for a four-room flat in Sembawang.

"It's an upcoming place, near the MRT and within our price range," she said. "The best part is that we'll only have to wait a year or less after we're married to move in."

The latest launch includes 740 two-room flats in Sembawang and Yishun. Strong response yesterday indicated that two-roomers may continue to be the most sought-after units.

As of 5pm, there were 247 applicants for 452 units in Sembawang and 448 for 288 units in Yishun.

Citing January's rate of 41.2 applications for every two-room flat at Punggol Vue, Mr Mak said the small rise in overall two-room supply this round - an additional 136 units to January's 604 - is "unlikely to meet all the demand from singles".

Designer Simon Goh, 38, who applied for a flat in Yishun yesterday, is hopeful, however, saying: "Fingers crossed - some fellow bachelors already have their own pad. I hope to join their club soon."

Applications close next Tuesday.

The next launch of flats will be in May, with 3,060 BTO flats offered in Bukit Batok and Woodlands, as well as an additional 3,000 balance flats.

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