HDB launches 4,126 BTO flats, over 80% to have waits of less than 3½ years

 

SINGAPORE - The Housing Board on Feb 21 launched 4,126 Build-To-Order (BTO) flats for sale across seven projects in Bedok, Queenstown, Choa Chu Kang, Hougang, Punggol and Woodlands.

 

Five projects, or more than 80 per cent of the flats launched, will have waiting times shorter than 3½ years, HDB said.

 

Applicants will have eight days to apply for a flat from this sales exercise, up from seven days previously.

 

This is to give them more time to make an informed choice, HDB added.

 

It also launched 1,588 flats under the Sale of Balance Flats exercise in various towns, of which about 12 per cent have been completed, while the rest are under construction. More than 670 balance flats are located in Yishun.

 

Of the seven BTO projects, one – the Tanglin Halt Courtyard integrated development in the mature estate of Queenstown – falls under the prime location public housing (PLH) model. This comes with stricter conditions, including an 8 per cent subsidy clawback upon resale, and a 10-year minimum occupation period.PLH flats receive extra subsidies on top of the market discounts applied across all BTO flats.

 

HDB said 20 per cent of the PLH flats will be set aside for first-timer families, while 2 per cent will be for second-timer families under the married child priority scheme, which allows a married child and his or her parents to live with or close to one another for mutual support.

 

Tanglin Halt Courtyard has 251 two-room flexi and four-room flats, and will be built on the site of the former Tanglin Halt Neighbourhood Centre.

 

The 48-storey project is a five-minute walk from Commonwealth MRT station.

 

Prices, excluding grants, range from $235,000 to $353,000 for a two-room flexi unit, and $565,000 to $720,000 for a four-room flat.

 

The development will also house a two-storey hawker centre and market, shops, a pre-school, a residents’ network centre and Queenstown Polyclinic, which will be relocated from Stirling Road.

 

HDB said Tanglin Halt Courtyard has the longest waiting time in this launch – four years and 10 months – given the complexities in building a high-rise development.

 

Meanwhile, two projects in Bedok will offer a combined 961 units, with a wait of more than three years.

 

Bedok South Bloom, located in New Upper Changi Road, has 528 two-room flexi and four-room flats. Prices, excluding grants, for a two-room flexi flat range from $178,000 to $284,000, and $491,000 to $638,000 for a four-room unit.

 

The project is two bus stops from the Bedok Integrated Transport Hub, and is near The Marketplace @ 58, a neighbourhood centre that has a wet market, food outlets and shops. It will also be adjacent to Bedok Green Primary School.

 

Bedok North Springs, comprising 433 two-room flexi, four and five-room flats, is bounded by Bedok North Street 3 and the Pan-Island Expressway, and is near Bedok Reservoir MRT station.

 

Prices, excluding grants, range from $155,000 to $256,000 for a two-room flexi flat, $451,000 to $568,000 for a four-room flat, and $605,000 to $730,000 for a five-room flat.

 

The Matilda Riverside project in Punggol, which will have the shortest wait in this launch at three years and one month, comprises 962 two-room flexi, three-, four- and five-room flats.

 

It is the first BTO development to be launched in Punggol since 2019.

 

Two-room flexi units in this project are going for $131,000 to $221,000, three-room flats for $242,000 to $296,000, four-room flats for $318,000 to $429,000, and five-room units for $464,000 to $582,000 (all prices exclude grants).

 

The 1,127-unit Woodgrove Edge, comprising two-room flexi, three-, four- and five-room flats, will be the largest in this exercise.

 

The project in Woodlands, which has a wait of slightly more than three years, is bounded by Woodgrove Avenue and Rosewood Drive.

 

In Choa Chu Kang, the Rail Garden @ CCK project beside the Pang Sua Canal offers 465 two-room flexi, three- and four-room flats. The wait for a flat is about three years and nine months.

 

This will be the third and final project built on the site of Pang Sua Woodland. The first two projects in the estate, Rail Green I and II @ CCK, were launched for sale in October.

 

Tanjong Tree Residences @ Hougang, located in Hougang Street 13, will have 360 two-room flexi, three- and four-room flats. The wait for a flat is three years and three months.

 

Mr Ismail Gafoor, chief executive of real estate firm PropNex, said the Tanglin Halt project is the standout offering in this launch.

 

“Since many buyers tend to prefer integrated projects due to the convenience of having various facilities at their doorstep, we expect the project to have stronger demand,” he added.

 

However, Mr Lee Sze Teck, senior director of data analytics at Huttons Asia, said the integrated development may not attract many applicants given the track record of application rates for PLH projects in Queenstown.

 

“The last project, Tanglin Halt Cascadia, had fewer than one applicant vying for each flat – probably due to the high price, restrictions on resale and distance from the city centre,” he noted.

 

Ms Christine Sun, chief researcher and strategist at OrangeTee Group, said the Bedok North Springs project could be popular as it is within walking distance of Red Swastika School and Yu Neng Primary School.

 

Matilda Riverside could also attract applicants due to its waterfront location and pent-up demand for new flats in Punggol, she added.

 

February’s sales exercise will be the first of three BTO launches in 2024, down from four times a year previously. HDB is set to roll out 19,600 new flats in 2024.

 

Having three launches instead of four means that home buyers can look forward to a larger number of flats and a wider range of flat types and locations at each launch, HDB said.

 

This means applicants will have a better chance of finding a flat that meets their budget and needs, it added, noting that a wider gap between sales launches also reduces the extent of overlaps between flat selection exercises.

 

Applications close at 11.59pm on Feb 28 on the HDB flat portal. Flats will be allocated through balloting.

 

In June, HDB will offer about 6,800 flats in Jurong East, Kallang/Whampoa, Queenstown, Tampines, Woodlands and Yishun.

 

 

 

 

Liew, I. (2024, February 21). HDB launches 4,126 BTO flats, over 80% to have waits of less than 3½ years. The Straits Times. https://www.straitstimes.com/singapore/housing/hdb-launches-4126-bto-flats-over-80-to-have-waits-of-less-than-3-years