New housing ahead for Hougang, Choa Chu Kang and Woodlands

[mr funny]

http://www.channelnewsasia.com/stori...028619/1/.html

New housing ahead for Hougang, Choa Chu Kang and Woodlands

By channelnewsasia.com | Posted: 05 January 2010 1120 hrs


SINGAPORE: A pair of new Build-to-Order (BTO) projects have been launched by the HDB in Choa Chu Kang and Hougang.

Called Limbang Green and Buangkok Vale, the flats will cost from a low of $64,000 for a Studio flat to a high of $288,000 for a 4-room unit.

The Housing and Development Board said in a news release on Tuesday that the new flats are priced below their equivalent market prices and most of the 2- to 4-room flats will be set aside for first-time buyers.

The latest BTO project will offer a total of 1,291 standard flats with 646 units being 4-room flats and the rest being Studio Apartments (276 units), 2-room flats (128 units) and 3-room flats (241 units).

The development in Choa Chu Kang, called Limbang Green, will have 592 standard flats, comprising 276 Studio Apartments, 128 units of 3-room flats and 188 units of 4-room flats.

The selling price for the Limbang Green flats range from $64,000 to $89,000 for a Studio Apartment; $140,000 to $169,000 for a 3-room flat; and $226,000 to $278,000 for a 4-room flat.

At Hougang, the Buangkok Vale project offers 699 standard flats, comprising 128 units of 2-room flats, 113 units of 3-room flats and 458 units of 4-room flats.

The Buangkok Vale units are priced from $88,000 to $111,000 for a 2-room flat; $142,000 to $182,000 for a 3-room flat; and $231,000 to $288,000 for a 4-room flat.

The HDB said that it aims to keep public housing affordable for first-time homebuyers, and that the market prices take into account the prices of resale flats in the area - adjusted for factors such as location, flat attributes, project design and prevailing market conditions, as determined by professional valuers.

In a month's time, the HDB also plans to launch another 1,500 flats in Punggol and Woodlands and if there is sustained demand, more BTO projects can be expected, bringing the number of new BTO flats to about 12,000 this year.

In addition, tenders are being called for the sale of two Executive Condominum (EC) housing sites at Buangkok Drive and Yishun Ave 11.

Introduced in 1995, the Executive Condominium Housing Scheme (ECHS) offers households with income of up to $10,000 a month, strata-titled apartments with facilities comparable to private condominiums but with initial eligibility and ownership restrictions similar to public housing.

The Urban Redevelopment Authority (URA) has meanwhile put up for sale by public tender, its first residential site to be sold in 2010 through the Confirmed List under the Government Land Sales (GLS) Programme.

The residential site at Choa Chu Kang Road / Woodlands Road is earmarked for an integrated commercial and residential development, that is co-located with the Ten Mile Junction LRT station.

A 3-storey podium block comprising commercial space and the Ten Mile Junction LRT station is already built and in operation.

The current sale will only include the existing commercial development and the future residential development to be built above the podium.

- CNA/sf

[mr funny]

http://www.businesstimes.com.sg/sub/...66710,00.html?

Published January 6, 2010

HDB launches another 1,291 build-to-order flats

Another 1,500 units to come in February; some 12,000 could be offered this year

By EMILYN YAP


THE Housing and Development Board yesterday launched two build-to-order (BTO) projects at Choa Chu Kang and Hougang, offering 1,291 flats.


Upcoming: PropNex CEO Mohamed Ismail sees high subscription rates of at least five times for the just-released flats, with those at Buangkok Vale in Hougang possibly being more popular than Limbang Green (above) in Choa Chu Kang

The agency plans to release another 1,500 units at Punggol and Woodlands next month. And if demand stays strong, it could make about 12,000 new BTO flats available this year.

PropNex CEO Mohamed Ismail expects to see high subscription rates of at least five times for the just-released flats, with those at Hougang possibly being more popular.

Buangkok Vale at Hougang will offer 699 standard flats, comprising 128 two-room units, 113 three-roomers and 458 four-roomers.

The estate is bounded by Buangkok Green and Yio Chu Kang Road and is close to Hougang and Buangkok MRT stations. Other nearby amenities include Hougang Mall, Hougang Plaza and Hougang Sports Hall.

Selling prices range from $88,000 to $111,000 for a two-roomer, $142,000 to $182,000 for a three-roomer and $231,000 to $288,000 for a four-roomer.

According to HDB, a comparable four-room resale flat near Buangkok Vale costs $310,000 to $356,500.

Limbang Green at Choa Chu Kang will offer fewer flats, and a larger proportion of them will be three-room or smaller. There will be 592 units, comprising 276 studio apartments, 128 three-room flats and 188 four-roomers.

The estate is at Choa Chu Kang Drive, near Yew Tee MRT station and other amenities such as Yew Tee Square and Choa Chu Kang Sports Hall.

Buyers can expect to pay $64,000 to $89,000 for a studio apartment, $140,000 to $169,000 for a three-room flat and $226,000 to $278,000 for a four-roomer.

A comparable four-room resale flat near Limbang Green costs $325,000 to $365,000.

Mr Ismail says that buyers tend to seek four-roomers, and because Buangkok Vale offers more of these, it could be more popular than Limbang Green.

Home seekers have until Jan 18 to submit applications for the new BTO flats.

Demand has been strong for new flats launched recently. For instance, some types of flats at two BTO projects in Queenstown were almost 12 times subscribed when applications closed last month.

Demand has also been high for resale flats, pushing prices up.

According to flash estimates, resale flat prices rose 8.1 per cent in 2009 from a year ago.

Mr Ismail believes that the new BTO projects are unlikely to dampen resale flat prices, given the new units will not be ready for three or four years.

'Those who cannot wait will still have to turn to the resale market,' he said.

[mr funny]

http://www.straitstimes.com/Singapor...ry_473986.html

Jan 6, 2010

HDB offers flats in Choa Chu Kang and Hougang

By Jessica Cheam


HOME buyers can look forward to plenty of new flats in the year ahead, as the Housing Board (HDB) aggressively ramps up the number of flats to tackle supply concerns.

It launched 1,291 new flats in Choa Chu Kang and Hougang yesterday, with another 1,500 new flats to be put up for sale in Punggol and Woodlands next month.

It is also putting up for sale two new executive condominium sites next Friday, which will cater to middle-income families with private housing aspirations who earn up to $10,000 a month. These sites are in Buangkok Drive and Yishun Ave 11.

In total, the HDB will offer 12,000 new build-to-order (BTO) flats this year if there is sustained demand, it said in a statement yesterday.

This flurry of activity comes amid mounting concerns over the supply of HDB flats. Some analysts say supply is not keeping up with high levels of demand.

Flash estimates released on Monday showed resale flat prices continuing their upward march, rising 3.8 per cent in the fourth quarter last year over the previous quarter to hit a new high.

Real estate agency PropNex's chief executive Mohamed Ismail said the upcoming BTO projects will not have a big impact on current resale flat prices, owing to the waiting period of three to four years for the new flats.

'For those who cannot wait, they will still have to turn to the resale market,' he said. But he noted that the HDB has been launching new flats almost every month since the middle of last year to meet demand.

Yesterday's new projects - Limbang Green in Choa Chu Kang and Buangkok Vale in Hougang - offer 1,291 standard flats for sale.

Limbang Green in Choa Chu Kang Drive is served by Yew Tee MRT station and has 276 studio apartments, 128 three-room flats and 188 four-roomers. Prices range from $64,000 for a studio unit to $278,000 for a four-roomer.

Buangkok Vale, which is bounded by Buangkok Green and Yio Chu Kang Road, offers 128 two-roomers, 113 three-room flats and 458 four-room homes. Prices start at $88,000 for a two-roomer and go up to $288,000 for a four-room flat.

Mr Ismail expects the flats to be popular and estimates five applications for every flat on offer. Both projects are located in mature estates, and the three- and four-room flats are about 30 per cent and 20 per cent cheaper respectively than similar flats in their areas, he said.

First-timers will get priority for 95 per cent of the flats, and those eligible can apply for a housing grant of up to $40,000. Applications for the new flats are now open and close on Jan 18.