Over 10,000 new flats up for selection

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http://www.straitstimes.com/singapor...-for-selection

Over 10,000 new flats up for selection

Nov 23, 2016

Yeo Sam Jo


The last and largest launch this year of new Housing Board flats kicked off yesterday with a total of 10,118 units and more than 4,100 people applying on day one.

Analysts expect this launch to be very popular, given the attractive locations of some units.

Of the 5,110 Build-To-Order (BTO) units, over half are in the mature estates of Bedok, Bidadari - an upcoming estate that is part of Toa Payoh - and Kallang/Whampoa.

The remaining 2,194 units are in Punggol.

Also on offer are 5,008 balance flats - or flats not sold previously - ranging from two-room flexi units to executive flats, which are no longer being built.

The preceding three BTO launches this year also included flats in mature estates such as Ang Mo Kio, Tampines and Bidadari.

Yet, despite the greater supply, competition for units in mature estates is expected to remain high.

In a Facebook post yesterday, National Development Minister Lawrence Wong said: "We are trying our best to provide more options for home-buyers. But given limited land and the popularity of projects in these mature areas, we can expect application numbers to exceed the units available."

He encouraged buyers in urgent need of flats to consider non-mature estates instead.

Applications for both BTO and balance flats are open until 11.59pm on Monday.

The next BTO launch will be held in February.

About 1,770 and 170 flats respectively from the non-mature estates of Punggol and Woodlands will be offered, while the mature estates of Clementi and Tampines will have 1,600 and 620 units up for grabs.

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http://www.straitstimes.com/singapor...mature-estates

High demand for new flats in mature estates

Nov 23, 2016

Yeo Sam Jo
Janice Heng


Right now, they are scattered across three different flats in Punggol. But one family is hoping that the latest Build-To-Order (BTO) flat launch will bring them all under one roof.

Ms Karin Chua, 32, and her 38-year-old husband Tony Lim, who are self-employed drivers, plan to apply for a Three-Generation (3Gen) flat in Punggol, which is around 123 sq m in size and has four bedrooms. They will then move in with their 10-month-old son, Ms Chua's parents and her 80-year-old grandmother. "We thought we might as well all live together. It's easier to take care of each other," said Ms Chua. "My grandfather passed away just a week ago. We want to let my grandmother live with us so she won't feel so lonely."

Punggol is the only non-mature estate in the latest - and largest - batch of BTO flats offered this year. The other estates are Bedok, Bidadari in Toa Payoh and Kallang/ Whampoa.

Among Punggol's 2,000-plus BTO units up for grabs are 65 3Gen flats for multi-generational families at the Waterway Sunrise I project.

While there are no standalone application figures for 3Gen flats, there were 113 applicants going for 398 five-room and 3Gen units in Punggol as of 5pm yesterday.

But yesterday's star attractions were the four-room flats in the mature estates of Bidadari, Bedok and Kallang/Whampoa.

As of 2pm yesterday, there were already 185 applicants vying for the 158 four-room units in Kallang Residences. This rose to 271 by 5pm.

Four-roomers in Bidadari were also popular, with 481 applicants for 587 units as of 5pm.

The high demand is despite 5,008 flats being offered in a simultaneous Sale of Balance Flats (SBF) exercise. These flats not sold in past exercises are expected to siphon off only a little of the demand for BTO flats, said R'ST Research director Ong Kah Seng. "Not many flat applicants like to place their bets on SBF flats, where there are only a few units available in the location they are keen on."

When the BTO exercise closes on Monday night, PropNex Realty key executive officer Lim Yong Hock expects four to eight applicants for each unit in mature estates, compared with one to three applicants for each unit in Punggol.

ERA Realty key executive officer Eugene Lim noted that the projects in the mature estates are close to existing or upcoming MRT stations.

Regarding Kallang Residences, he said: "Demand is expected to be overwhelming due to the city fringe location and proximity to the (Kallang) MRT station. Many applicants will likely try their luck for a unit as the potential for capital appreciation is very high."

Starting prices for units in the mature towns, before grants, range from $135,000 for a two-room flexi flat in Bedok to $497,000 for a four-room unit in Kallang Residences and $503,000 for a Bedok five-roomer.

Engineer Lee Hwee Liang, 25, and his girlfriend are hoping to secure their first BTO flat - a four-room unit in Bedok.

"It's a nice neighbourhood with good food and lots of shops. Bedok South MRT station is also coming up there, so it will be very convenient to go to town," said Mr Lee.

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http://www.businesstimes.com.sg/real...nal-bto-launch

Mature estates feature in 2016's final BTO launch

Consultants say these units will be in demand, and that their higher prices won't deter buyers, especially second-timers; younger buyers expected to go for units in newer towns

By Lee Meixian

[email protected]

@LeeMeixianBT

Nov 23, 2016


THE biggest joint build-to-order (BTO) and sale-of-balance-flats (SBF) exercise for the year was launched on Tuesday, offering more than 10,000 BTO and SBF units across 25 estates.

Most markedly, about three-fifths of the BTO supply is located in mature estates - which is rare, and which National Development Minister Lawrence Wong said shows that the government is delivering on its earlier promise to do so.

These flats on offer are spread across nine projects. Of these, three are in the non-mature town of Punggol (2,194 units); another six projects are in the mature estates of Bedok (1,655 units), Bidadari/Toa Payoh (1,018 units) and Kallang/Whampoa (243 units).

Consultants widely expect higher subscription rates for the units in the mature estates.

For example, PropNex Realty key executive officer Lim Yong Hock anticipates subscription rates of four to eight times for projects in such estates; those in non-mature estates are likely to have a subscription rate of one to three times.

He noted: "HDB BTO overall subscription rates for this year dropped from 4.7 in February to 3.7 in May and 2.3 in August.

"We predict that this last BTO launch for the year will see an average rate of three to five times due to more mature estates released this time round."

ERA Realty Network's key executive officer Eugene Lim agreed that the higher prices will not deter buyers from subscribing for units in the mature estates. The application rates for second-timers, especially, are projected to be high," he said.

He believes that the Punggol flats will appeal to younger families, especially first-timers, for affordability reasons. In a Facebook post, Mr Wong said: "At the beginning of the year, I shared that we intend to have more BTO projects in mature estates. So in this exercise, there are BTO projects in Bedok, Bidadari, and Kallang/Whampoa. We're trying our best to provide more options for home-buyers."

But he added: "Given limited land and the popularity of projects in these mature areas, we can expect application numbers to exceed the units available.

"So I encourage those who need flats more urgently to consider non-mature estates, where the chances of getting a flat are much higher. There are over 2,000 flats in Punggol in this BTO exercise, and there will be many more in other towns next year."

Tuesday's launch brings the total BTO supply this year to 17,891 units. Together with the 10,178 balance flats offered, this adds up to some 28,069 flats launched this year.

Lee Nai Jia, head of South-east Asia research at Edmund Tie & Company, expects Kallang Residences to be the most well-received project, as it is "relatively rare" to see a BTO project in that area and so near Kallang MRT station.

"This is likely to be followed by Toa Payoh (Bidadari), as the flats are close to good schools and Woodleigh MRT station. Overall, the flats in Toa Payoh are likely to be seven to 10 times oversubscribed, and Kallang Residences, at least eight times oversubscribed."

Past launches of Bidadari were heavily over-subscribed, the key draws in that area being its central location and transport links.

As for the flats in Bedok, they are spread across three projects: Bedok Beacon, Bedok North Vale and Bedok South Horizon.

Bedok Beacon is beside Bedok MRT station, and Bedok North Vale, a short distance from the station; Bedok South Horizon will be next to the upcoming Bedok South MRT station.

November's batch of balance flats will be in 11 non-mature towns and 14 mature estates.

Come February, HDB said it will offer about 4,100 flats in Clementi, Punggol, Tampines and Woodlands.

Dr Lee said the current BTO supply "adequately satisfies" the demand from new households and that this demand for new public housing should remain stable next year in spite of downside risks to the economy.