Five BTO projects launched, offering 3,923 flats

Posted on CNA: 11 January 2012
By Qiuyi Tan

SINGAPORE: The Housing and Development Board (HDB) launched five Build-To-Order (BTO) projects on Wednesday.

The BTO launch, the first this year, offers 3,923 new flats in Choa Chu Kang, Punggol, Sengkang and Tampines.

And a further 4,110 new flats will be offered for sale in the next BTO launch in March, in Bedok, Bukit Batok, Bukit Panjang, Bukit Timah, Clementi, Geylang and Toa Payoh.

In total, HDB plans to offer 25,000 BTO units for the entire year.

HDB says at least 95 per cent of the flat supply (excluding Studio Apartments) will be set aside for first-timer households. Eligible first-timer households can also enjoy various housing grants to help them own a new BTO flat.

The projects launched on Wednesday are Fernvale Lea in Sengkang, Sunshine Gardens in Choa Chu Kang, Tampines Alcoves and Tampines GreenTerrace in Tampines, and Waterway Sunbeam in Punggol.

The selling prices for units at Fernvale Lea range from S$83,000 for a 2-room unit to S$283,000 for a 5-room unit.

For Sunshine Gardens, the price range is from S$77,000 for Studio Apartments to S$295,000 for a 5-room unit.

For units at Tampines Alcoves and Tampines GreenTerrace, the price range is from S$86,000 for Studio Apartments to S$292,000 for a 4-room unit.

And at Waterway Sunbeam, the price range is from S$152,000 for a 3-room unit to S$340,000 for a 5-room unit.

All these prices exclude grants.

Analysts expect strong demand for the Tampines projects, but the other projects are not likely to see 100 per cent take-up rate.

Mr Lim Yong Hock, senior vice president at PropNex Realty, said: "We can see the take-up rate has moderated over the last one year, from subscription of more than five times. Now, we have moderated down to one-over times.

"I believe today's launch will probably see further moderation of the take-up rates. But of course, in a good location, the take-up rate will still be very strong, like Tampines (Alcoves). It's a hot location and it's also near a future MRT station, Tampines West."

Mr Lim said applicants are being more selective as more BTO projects, some of them in mature estates, are in the pipeline.

He added: "Of course, everybody hopes to apply for a good location. So some of them may even wait for the March launch before they even put in their applications."

The vast majority of new flats are reserved for first-time applicants, and only five per cent go to second-timers.

If take-up rates continue to moderate, analysts expect the government to start allocating more flats for second-timers as early as the first half of the year.

Minister for National Development Khaw Boon Wan had said in his blog last year that second-timers can expect more BTO flats to be reserved for them, starting 2012.

More information is available on HDB InfoWEB.

Applications and enquiries for Wednesday's BTO launch can be submitted online from January 11 to January 17.

For enquiries, the public can:
- Log on to www.hdb.gov.sg/esales; or
- E-mail hdbsales@hdb.gov.sg; or
- Visit the HDB Sales Office to speak with our Customer Service Officers during office hours (Mon to Fri 8 am to 5 pm, Saturday 8 am to 1 pm).

- CNA/fa/ck

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