HDB launches 6,800 flats across 8 projects in October BTO exercise

Oct 04, 2023

SINGAPORE’S Housing and Development Board (HDB) on Wednesday (Oct 4) launched 6,800 Build-To-Order (BTO) flats for sale across eight projects in Choa Chu Kang, Kallang/Whampoa, Queenstown and Tengah.

Six of the projects, which represent 75 per cent of all flats offered, have a waiting time of four years and below, said HDB. The exceptions are Rajah Residences in Kallang/Whampoa and Tanglin Halt Cascadia in Queenstown.

The largest BTO project is Rail Green I & II @ CCK, offering 1,895 units of two-room flexi, three-room, four-room, five-room and 3Gen flats.

Plantation Edge I & II is the other project offering five-room flats, which comprise 313 out of the total 1,010 units offered that also include two-room flexi, three-room and four-room units. This project has the shortest waiting time of three years for Plantation Edge I, and three years and four months for Plantation Edge II.

Three BTO projects – Rajah Residences, Tenteram Vantage and Verandah @ Kallang – are located in Kallang/Whampoa.

Verandah @ Kallang, which has a waiting time of 3.5 years, offers 1,143 units of two-room flexi, three-room and four-room flats. This project falls under the prime location public housing (PLH) model.

Rajah Residences has 739 units of two-room flexi and four-room flats, with an estimated waiting time for the project of four years and four months.

Meanwhile, Tenteram Vantage offers 1,040 units, which are three-room and four-room flats. These have an estimated waiting time of three years and nine months.

Tanglin Halt Cascadia, which also falls under the PLH model, has 973 units of three-room and four-room flats, with a projected waiting time of 4.5 years.

“The new flats are priced with significant market discounts to ensure affordability, and hence selling prices are considerably lower than the transacted prices of comparable resale flats.”

The selling price of a four-room unit at Rail Green I & II @ CCK, excluding grants, starts from S$319,000, against an estimated S$515,000 to S$615,000 price tag of resale flats nearby.

For mature town projects such as Tenteram Vantage in Kallang/Whampoa, a four-room unit excluding grants, starts from S$480,000, compared with an estimated S$690,000 to S$850,000 for resale flats in the vicinity.

HDB has also introduced a new priority category in this BTO exercise to enhance support for a subset of first-timer families with children aged 18 and below, or married couples aged 40 and below, including those who are expecting.

Families under this category who apply for a four-room and smaller BTO flat in non-mature estates will be given first priority under the Family and Parenthood Priority Scheme.

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