HDB launches nearly 4,500 flats in February BTO exercise

Feb 28, 2023

THE Housing and Development Board (HDB) has launched 4,428 flats for sale under its February Build-To-Order (BTO) exercise.

The flats are spread across five projects in both mature and non-mature estates Kallang Whampoa, Queenstown, Jurong West and Tengah.

Two projects – Farrer Park Fields and Ulu Pandan Glades – are offered under the Prime Location Public Housing (PLH) model, which applies to flats in prime and central locations.

Prices for the Farrer Park Fields project in Kallang Whampoa, excluding grants, start from S$185,000 for a two-room flexi flat, from S$356,000 for a three-room flat, and from S$484,000 for a four-room flat.

The two-room flexi flats will be sold on both 99-year as well as shorter leases, HDB said. However, the 6 per cent subsidy recovery imposed on the resale of PLH flats will be applied only to the flats on 99-year leases, as two-room flexi flats on short lease cannot be sold on the open market.

Transacted prices of resale flats near the project range from S$533,888 to S$568,000 for a three-room flat, and between S$660,000 and S$790,888 for a four-room flat.

Prices, excluding grants, for Ulu Pandan Glades in Queenstown will start from S$372,000 for a three-room flat, and from S$541,000 for a four-room flat.

Resale flats nearby have transacted at prices between S$602,000 and S$730,000 for a three-room flat, and between S$860,000 and S$996,000 for a four-room flat.

The median waiting time for BTO projects in this exercise stands at about 4.4 years.

HDB said buyers looking to move into their flats sooner can consider the Jurong West Crystal project and Brickland Weave project in Tengah. The two projects are in non-mature estates where application rates are typically lower and waiting times are also shorter.

The waiting time for Jurong West Crystal is about 3.9 years, and about four years for Brickland Weave.

At least 95 per cent of the four-room and bigger flats in the two projects are also set aside for first-timer families.

Starting from this sales exercise, families under the Fresh Start Housing Scheme can also purchase three-room flats on a shorter lease. They can choose lease lengths ranging from 45 years to 65 years in five-year increments, provided the lease of the flat can cover the applicant and their spouse up to the age of 95.

Applications for the February 2023 BTO exercise close on Mar 6, 2023.

HDB said it will continue to monitor the housing demand closely, and is prepared to launch up to a total of 100,000 flats from 2021 to 2025.

Come May, HDB will offer about 5,400 BTO flats in Tengah, Bedok, Kallang Whampoa and Serangoon.

In August, the board will offer between 5,200 and 6,200 flats in Choa Chu Kang, Tengah, Bukit Merah, Kallang Whampoa and Queenstown.

https://www.businesstimes.com.sg/pro...y-bto-exercise