HDB selling 6,454 BTO and SBF flats

[reporter2]

http://www.businesstimes.com.sg/arch...flats-20140523

Published May 23, 2014

HDB selling 6,454 BTO and SBF flats

BTO flats in 2 non-mature towns while SBF units are in various locations

By Lynette Khoo

[email protected] @LynetteKhooBT


THE Housing Development Board (HDB) is rolling out 6,454 flats for sale this month in both mature and non-mature estates under its Build-To-Order (BTO) and Sale of Balance Flats (SBF) exercises.

The third BTO launch this year will offer 3,071 BTO flats in four projects in the non-mature towns of Bukit Batok and Woodlands, bringing the total number of BTO flats released this year to 9,707 units.

Admiralty Flora and Marsiling Greenview are in the Woodlands planning area bounded by Woodlands Drive 62 and Woodlands Drive 73, while West Crest @ Bukit Batok and West Valley @ Bukit Batok are bounded by Bukit Batok Avenue 8 and Bukit Batok Avenue 9.

Property consultants expect the new flats in Woodlands to be more appealing given their proximity to the MRT stations.

"With the expected positive impact from the future plan of the Woodlands Regional Centre in the draft Master Plan 2013, we expect the two projects in Woodlands planning region will be well received by potential buyers," said Nicholas Mak, executive director at SLP International.

He noted that the unit mix of this new batch of BTO flats is similar to that in March, with no new studio apartments offered.

"This could be due to the low application rate for studio apartments in the previous BTO application exercise," he said. "In contrast, the two-room flats continue to receive very high application rate from single buyers at 19.4 in the last BTO launch."

Two-room flats make up 22 per cent of this batch of BTO flats. A two-room flat in Marsiling Greenview starts from $72,000 before grants while the same flat type in the two Bukit Batok projects start from $84,000.

ERA Realty key executive officer Eugene Lim said that he expects to see a healthy subscription for two-room flats in this BTO exercise given strong demand from singles.

The 50 three-generation flats in Marsiling Greenview are also likely to be popular, given the proximity to Marsiling MRT station, he added.

Under the SBF exercise this month, there are 3,383 balance flats being offered, bringing the total flats HDB has offered so far this year to 13,090.

These balance flats are in a wide range of flat types, locations and selling prices, including a five-room unit at Pinnacle@Duxton in Tanjong Pagar that is selling for $769,000 before grants.

Mr Lim said that he expects the application rate for the balance flats to be about 2 or lower but believes the unit at Pinnacle@Duxton will be highly contested in anticipation of capital upside in the resale market.

More housing options are available in July, when the HDB will offer some 3,810 BTO flats in Punggol, Sembawang, Toa Payoh, Woodlands and Yishun. "With singles and second timers finding it easier to apply for BTO, there may be less demand on the resale market," Mr Lim said. "Strong BTO and SBF launches, together with the new cooling measures and upcoming supply, demand for resale is expected to remain stable and this will help keep HDB prices stabilised."

HDB is tapering off its supply of new flats from this year, after a three-year ramp-up to cool property prices saw the effect of falling application rates for new flats and reduced cash premiums in the resale market.

[reporter2]

http://www.straitstimes.com/archive/...-sale-20140523

6,454 HDB flats go up for sale

Published on May 23, 2014 1:31 AM

By Janice Heng


THE Housing Board launched 6,454 flats yesterday in a joint Build-To-Order and Sale of Balance Flats (SBF) exercise.

This figure was a step down from bumper joint launches last May and November, but more than the joint launch in September.

There are two BTO projects each in Bukit Batok and Woodlands, with 3,071 units on offer.

But the balance flats - the first offered this year - are expected to be more popular, as is the norm because the flats can be moved into sooner.

"With SBF flats launched, the application rate for BTO (units) will be low," said ERA Realty key executive officer Eugene Lim. These unsold flats from previous launches are closer to completion.

Mr Lim expects two or fewer applicants for each available BTO unit. But there may be "a healthy subscription for two- room flats", he added, as there is still strong demand from singles.

At 5pm yesterday, there were 2.1 singles vying for each two-room flat available to them.

The overall BTO application rate was 0.3, compared with 0.5 for balance flats.

But the Woodlands projects - Marsiling Greenview and Admiralty Flora - are expected to be more popular than those in Bukit Batok as they are near Marsiling and Admiralty MRT stations.

SLP International Property Consultants head of research Nicholas Mak noted that no BTO studio apartments were launched, which might be due to the low take-up in previous launches.

Of the 3,383 balance flats, in contrast, 887 or 26 per cent are studio apartments.

"It shows this type of flat is not very popular among its targeted buyers which are elderly people," said Mr Mak.

The rest are two- to five- room and executive flats in mature and non-mature estates.

They include a 46th-floor flat in the Pinnacle@Duxton going for $769,000, and a four-room flat from the Design, Build and Sell Scheme project The Peak @ Toa Payoh for $544,000.

For those not in a hurry, however, BTO flats appeal as applicants can "be more assured of getting a unit", noted property market research company R'ST Research director Ong Kah Seng.

Those looking to buy a flat agree. "For balance flats, it's not easy to get a chance," said protection officer Jas Abdul Rahman, 52, who applied for a two-room BTO unit in Bukit Batok with his wife.

BTO units are also cheaper, said taxi driver Joe Chow, 38, who applied for a three-room BTO flat in Bukit Batok with his wife.

These start at $164,000 without grants, compared with $225,000 for a three-room balance flat in the same town.

Applications close at midnight on May 28.

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