SINGAPORE — The Housing and Development Board (HDB) launched 4,126 Build-to-Order (BTO) flats for sale on Wednesday (Feb 21) under its February BTO exercise.

The flats are being offered across seven new projects in different estates, HDB said in a news release. This is the first of three BTO launches for 2024, with 19,600 new flats to be launched in total this year.

In addition to the BTO flats, 1,588 Sale of Balance Flats (SBF) units are available under the concurrent February SBF exercise, with a total of 5,714 flats available across the two exercises. The SBF units are located across various towns and estates.

HDB will be holding three instead of four BTO sales exercises this year, with the other two to take place in June and October.

“Having three BTO launches instead of four means that home buyers can look forward to a bigger housing supply, and a wider range of flats and locations, at each of the BTO sales launches,” HDB said.

“Applicants will thus have a higher chance of success in finding a flat that meets their budget and needs.”

A wider gap between sales launches will also provide applicants with greater certainty as it reduces the extent of overlaps between flat selection exercises, it added.

The Housing Board said it will extend the seven-day application window for sales exercises to eight days with effect from this exercise “to allow more time for applicants to make an informed choice”.

FLATS FOR DIFFERENT BUDGETS, NEEDS

The seven BTO projects offered in the latest exercise are located in Bedok, Choa Chu Kang, Hougang, Punggol, Queenstown and Woodlands.

Five of these projects will have a waiting time of less than three-and-a-half years. Flat buyers looking to move into their flats sooner can consider applying for flats in Bedok, Hougang, Punggol and Woodlands.

“A wide selection of flats, ranging from two-room to five-room flats, is offered to meet diverse housing needs and budgets,” HDB said.

All new flats are priced with “significant market discounts” to ensure affordability, and as a result, selling prices are “considerably lower” than the transacted prices of comparable resale flats, it added.

Eligible first-timer families can benefit from the Enhanced CPF Housing Grant (EHG) of up to S$80,000.

With the grant, flat buyers will be able to buy a three-room flat at S$127,000 or a four-room flat at $240,000 in the non-mature estate of Choa Chu Kang, and service their monthly mortgage payments using their CPF monthly contributions without cash payments, HDB said.

Buyers looking to get a four-room flat in the mature estate of Bedok, meanwhile, can expect prices to start at S$406,000 after grants.

PRIME LOCATION HOUSING

One of the projects in this launch, Tanglin Halt Courtyard, is being offered under the Prime Location Public Housing (PLH) model.

As with BTO flats, these PLH flats are priced lower than comparable resale flats, considering the location, individual flat attributes and prevailing market conditions, said HDB.

“Given that new flats in prime locations naturally command higher market values, these PLH flats will be priced with additional subsidies on top of the substantial market discounts applied across all BTO flats,” it added.

“This will ensure that flat prices remain affordable for a wider range of Singaporeans.”

Of the flats on offer at Tanglin Halt Courtyard, 20 per cent will be set aside for first-timer families and 2 per cent for second-timer families under the Married Child Priority Scheme,

This is two-thirds of the usual quota for BTO flats in mature estates, said HDB.

SALE OF BALANCE FLATS

About 12 per cent of the SBF units on offer in the February SBF exercise have been completed, while the rest are in various stages of construction, HDB said.

Like BTO flats, these are heavily subsidised and priced considerably lower than comparable resale flats.

APPLICATIONS FOR FEBRUARY 2024 EXERCISES

Applicants who wish to participate in the February exercises must have valid HDB flat eligibility (HFE) letters when they submit their flat applications.

Flat applications can be made online via the HDB Flat Portal from Wednesday until Feb 28.

Applicants can only apply for one flat type or category in one town under either the BTO or SBF exercise. They do not need to visit HDB Hub to make their applications.

HDB will shortlist applicants using a computer ballot and not on a first-come-first-served basis. As such, there is no need to rush to submit applications, the Housing Board said.

The next BTO exercise will be held in June, with HDB set to offer about 6,800 flats in Jurong East, Kallang-Whampoa, Queenstown, Tampines, Woodlands and Yishun.

“The supply will be subject to review, as project details are firmed up closer to the launch date,” HDB said.

It advised prospective flat buyers who are interested in participating in the June exercise to apply for their HFE letters early and submit all required documents by May 15. CNA