HDB launches 3,497 new flats in four BTO projects

SINGAPORE — Four Build-To-Order (BTO) projects offering 3,497 new flats were launched by the Housing and Development Board yesterday, the second sales exercise since the Government announced a taper in the public housing supply.

The flats are in the non-mature towns of Sembawang, Sengkang and Yishun and comprise two- to five-room flats as well as large three-generation units. Prices range from S$70,000 for a two-room flat in Sembawang to S$351,000 or more for a three-generation flat in Sengkang, before grants.

However, eligible first-time households can enjoy up to S$60,000 in housing grants, comprising the Additional CPF Housing Grant of S$40,000 and Special CPF Housing Grant of S$20,000.

“With these grants, two-room, three-room, four-room and five-room flats are priced from S$10,000, S$91,000, S$201,000 and S$303,000 respectively,” the HDB said.

There are 70 three-generation flats on offer in the Anchorvale Parkview project in Sengkang. These are four-bedroom flats for couples applying with their parents.

Other multi-generation families who wish to live in the same BTO project can apply under the Multi-Generation Priority Scheme. There will be flats set aside in Sembawang and Yishun for that purpose.

The HDB will also introduce eco-features in all four projects, which will help manage water, energy and waste more efficiently. The authority had announced last month that all new public housing developments will have such eco-friendly features.

Demand from singles remained high in the latest exercise, with applications from this group exceeding the supply of two-room flats set aside for them. More than five singles are vying for one two-room unit in Yishun, while close to two singles had applied for a two-room unit in Sembawang by 5pm yesterday.

“The demand from singles has not been satisfied and we expect to see an oversubscription for two-room flats in this BTO exercise,” said ERA Key Executive Officer Eugene Lim.

He added that while the ramp-up in BTO supply has cleared most of the demand from first-time applicants, he expects second-timers to apply in the BTO exercise.

“As buyers try to find their footing in the resale market, they may turn their attention to BTO for a higher chance to pick their flats from a variety of choices,” Mr Lim said.

Mr Nicholas Mak, SLP International’s Executive Director for Research and Consultancy, felt that affordable public housing appears to be the main objective in this exercise.

He pointed out that the range of BTO flat prices is about 16 per cent to 39 per cent cheaper than the prices of comparable resale flats in their areas. “All the flats in this BTO exercise are standard flats in non-mature estates. There are no premium flats that cost more,” Mr Mak said.

Applications can be submitted up till Tuesday. The HDB said it will offer about 3,060 BTO flats in Bukit Batok and Woodlands in May. An additional 3,000 remaining units will be offered in a concurrent sales exercise.