Punggol Spectra launched by HDB

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http://www.businesstimes.com.sg/sub/...48303,00.html?

Published September 1, 2009

Punggol Spectra launched by HDB


THE Housing and Development Board yesterday launched Punggol Spectra under the build-to-order (BTO) system, following strong interest in the recent BTO project, Punggol Residences.

Punggol Spectra will offer 1,142 units, comprising 301 with two rooms, 285 units of three rooms and 556 with four rooms.

Located on Punggol Central, Punggol Spectra is within walking distance of Oasis LRT station and Tampines Expressway is just a short drive away, offering good connectivity to the rest of Singapore, HDB said. The precinct has commercial facilities such as shops, an eating house and a supermarket. The future Punggol Town Centre is minutes away. Educational institutions such as Horizon Primary School and Punggol Secondary School are also nearby.

Prices at Punggol Spectra range from $89,000 to $109,000 for the two-room flats, $151,000 to $179,000 for three-room flats and $234,000 to $293,000 for the four-room flats. These prices are lower than those for similar flats in the market, making them affordable for first-time buyers, HDB said.

Based on the income of flat applicants in the first half of this year, HDB expects first-time buyers will need to use only 20-26 per cent of their monthly household income to meet their housing loan commitment.

[mr funny]

http://www.straitstimes.com/Singapor...ry_423819.html

Sep 1, 2009 Tuesday

Punggol Spectra to offer new 2- and 3-room flats

By Charissa Yong


THE Housing Board launched Punggol Spectra yesterday, the third of its build-to-order (BTO) projects in Punggol this year and the first to introduce two- and three-room flats.

Under the BTO scheme, flats are built only when a certain level of demand is reached.

Located in Punggol Central and a short drive from Tampines Expressway, Punggol Spectra will offer 301 two-roomers, 285 three-roomers, and 556 four-room flats.

The two-roomers of 46 to 47 sq m are priced at $89,000 to $109,000, and three-room flats of 69 sq m are selling for $151,000 to $179,000.

Four-room flats of 94 to 96 sq m are selling for $234,000 to $293,000. Similar, smaller standard resale flats sell for $310,000 to $357,000, said HDB.

First-time buyers with an average monthly household income of $5,000 or less can apply for an Additional CPF Housing Grant of up to $40,000.

PropNex corporate communications manager Adam Tan expects Spectra to be very well-received, as it is the first in the area to offer two- and three-room flats.

'Smaller families will be attracted to these units, given their attractive prices,' he said, adding that the median resale prices for two- and three-room flats across Singapore have not seen such affordable levels for more than two years.

Mr Tan expects the Spectra units to be at least four times oversubscribed. This follows the strong interest in the recent BTO project Punggol Residences, which was launched in July and was seven times oversubscribed.

Previous BTO projects in Punggol include Nautilus @ Punggol, launched in March, and premium project Punggol Regalia, launched last December.

According to HDB, this year's total BTO supply is expected to reach 8,000 units, located in towns such as Punggol, Sengkang and Sembawang.

Applications for the Spectra flats can be submitted online at HDB's website www.hdb.gov.sg until Sept 14.