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Thread: Punggol, Choa Chu Kang BTO projects launched

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    Default Punggol, Choa Chu Kang BTO projects launched

    http://www.businesstimes.com.sg/sub/...53540,00.html?

    Published December 31, 2008

    Punggol, Choa Chu Kang BTO projects launched

    By UMA SHANKARI


    THE Housing & Development Board (HDB) yesterday launched two new housing projects - one in Choa Chu Kang and the other in Punggol - under the build-to-order (BTO) system.


    Good location: Punggol Regalia, which comprises 546 four-room and 183 five-room flats, is located near the future Punggol Town Centre

    A total of 1,181 studio, three-room, four-room and five-room apartments are on offer.

    With these two new projects, HDB has launched some 7,793 units under the BTO system in 2008, in towns such as Punggol, Choa Chu Kang, Sengkang, Yishun, Woodlands and Bukit Panjang.

    Sunshine Court, located along Choa Chu Kang Avenue 3, comprises 164 studio apartments, 117 three-roomers and 171 four-room flats. This is the first time that studio apartments are being offered for sale in Choa Chu Kang and they will come equipped with elderly-friendly features such as grab bars and non-slip flooring.

    The studios will sell for between $58,000 and $80,000. Three-room flats in Sunshine Court are priced at $121,000-$148,000, while four-room flats are going for $202,000-$236,000.

    The other development, Punggol Regalia, comprises 546 four-room and 183 five-room flats. The four-room apartments are going for $252,000-$316,000, while the five-room units will be sold for $342,000-$428,000.

    HDB reiterated that new flats are priced below their equivalent market prices to ensure that public housing is affordable for first-time home buyers.

    For example, comparable four-room resale flats in Choa Chu Kang cost $260,000-$300,000 - although they are slightly bigger - according to data provided by HDB.

    Analysts said that the Choa Chu Kang property is expected to see more demand.

    'I think the take-up rate will be very good,' said Jack Chua, president of property firm ERA Realty. 'The units are small, which makes them more affordable. In today's market, most people are looking for smaller units.'

    This is the first BTO project in Choa Chu Kang, a mature estate, which should boost its popularity, he said.

    And as for Punggol Regalia, analysts said that the good location should encourage take-up. The project is located near the future Punggol Town Centre.

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    http://www.straitstimes.com/Singapor...ry_320296.html

    December 31, 2008 Wednesday

    For sale: 1,181 new HDB flats of all sizes

    Flats in Choa Chu Kang, Punggol will be offered under built-to-order plan

    By Jessica Cheam


    THE Housing Board is bringing down the curtains on a busy year with one more sales exercise - this time for 1,181 flats in Choa Chu Kang and Punggol.

    It is offering everything from studio apartments to five-room flats, with prices ranging from $58,000 to $428,000.

    The flats are being offered under the build-to-order scheme where construction begins once a certain number of sales has been achieved.

    A total of 7,793 flats has now been offered under the scheme this year, with demand generally robust despite flat sales in the broader property market.

    One of the latest projects is Sunshine Court on Choa Chu Kang Avenue 3, opposite the Sunshine Place neighbourhood centre, which houses a supermarket, foodcourt and shops.

    It offers standard flats of 164 studios, 117 three-room and 171 four-room units, costing between $58,000 and $236,000 each.

    This is the first time 30-year lease studio apartments - meant for Singaporeans over 55 - have been offered for sale in Choa Chu Kang, said the HDB.

    The studios will have elderly-friendly features such as grab bars and non-slip flooring, as well as built-in wardrobes, kitchen cabinets and cooking facilities.

    PropNex chief executive Mohamed Ismail said the flats are attractively priced at less than $250 per sq ft, for three-roomers of roughly 700 sq ft, and 970 sq ft four-room homes.

    Prices provided by HDB indicate that the flats are $60,000 to $80,000 cheaper than comparable resale flats in the area.

    The second project - Punggol Regalia - is at the junction of Punggol Field and Punggol Place and near the future Punggol Town Centre.

    It offers premium flats with 546 four-room and 183 five-room units, priced from $252,000 to $428,000 each.

    They are around $33,000 to $86,000 cheaper than similar resale flats nearby of about six years old, said the HDB.

    It added that the prices mean the average household would not need to fork out more than 25 per cent of their monthly income to service their loans.

    Mr Ismail anticipates strong demand for three- and four-roomers at Choa Chu Kang, as the project is in a mature estate.

    At the HDB's last sales launch - Dew Spring @ Yishun - earlier this month, such flats proved very popular, attracting many more applicants than the number of available units.

    So far, 487 applications have been lodged for the project's 216 three-room units and 1,452 for the 504 four-room flats; only 152 bids have been received for the 144 two-room flats.

    Smaller flats are now making a comeback, as the HDB is providing a steady supply of such homes for lower-income families and those homeowners who need to downgrade during the economic slowdown.

    The HDB has said it will ramp up supply to around 4,000 units over the next two years to meet surging demand.

    It will also continue to build up critical mass of new homes in Punggol.

    Applications can be made on the HDB website www.hdb.gov.sg until Jan 12.

    [email protected]
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