Tag Archives: Built to Order

HDB launches 7 BTO projects offering 4191 new flats

The Housing and Development Board (HDB) announced on Tuesday that it has launched seven BTO projects, offering 4,191 new flats.

This is the fourth BTO launch this year and HDB said it remains on track to launch 25,000 flats this year.

The flats are being offered in two non-mature towns of Choa Chu Kang and Punggol, and three mature towns of Bukit Merah, Clementi and Geylang.

The projects in the non-mature estates are Keat Hong Axis, Punggol Opal and Waterway Cascadia, while those in the mature towns are Clementi Gateway, Depot Heights, Telok Blangah Ridgeview and GreenTops @ Sims Place.

A 3-room flat at Keat Hong Axis in the non-mature estate of Choa Chu Kang will cost from S$151,000 without grants and from S$116,000 with grants, while a similar flat at Clementi Gateway in the mature estate of Clementi will cost from S$301,000 without grants and from S$271,000 with grants.

HDB said to ensure first-timers continue to enjoy priority in flat allocation, at least 95 per cent of the BTO flat supply (excluding Studio Apartments) in mature towns and 85 per cent in the non-mature towns will be set aside for them.

Eligible first-timer households can also enjoy various housing grants to help them own a new BTO flat.

In September 2012, HDB will offer 3,700 new BTO flats for sale in Ang Mo Kio, Choa Chu Kang, Kallang Whampoa, Tampines and Woodlands.

HDB will also offer 3,000 flats in a concurrent Sale of Balance Flats (SBF) exercise. The balance flats will have good geographical spread and comprise flats from both mature and non-mature estates.

Applications for the new flats launched can be submitted online from 31 July 2012 to 6 August 2012.

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

Also with effect from the July BTO launch, HDB will extend the Special CPF Housing Grant (SHG) (of $20,000) for first-timer households earning S$1,500 and below, to include purchases of 3-room standard flats in non-mature estates.

This special grant was introduced in March last year to help first-timer low income households own their homes and could only be used for the purchase of a 2-room standard flat in non-mature estates.

HDB said the enhancement will expand the options available to low-income households who need more space and can afford a larger flat, with the help of government subsidies.

Together with the Additional CPF Housing Grant (AHG), households earning S$1,500 and below can now enjoy total housing grants of S$60,000 for the purchase of 2-room or 3-room standard flats in non-mature estates from HDB.

Source CNA 2012 Jul 31





Lower COVs driving demand for resale flats

After falling more than 20 percent in Q1 of this year, cash-over-valuation (COV) figures for resale HDB flats seem to be stabilising and luring buyers back into the market, according to experts.

In Q2, HDB’s resale price index (RPI) climbed 1.3 percent quarter-on-quarter from 191.6 to 194, an indication that flat prices were higher than in the period before.

“The stronger price growth exhibited could be a result of decreasing COVs and increasing valuations in the market,” said Eugene Lim, Key Executive Officer at ERA Realty Network.

“Valuations are catching up with selling prices and median COVs have been reduced to S$25,000 in June 2012. Reduction in COVs encourages buyers to commit to flat purchases resulting in rising resale prices.”

At the same time, transaction volumes grew eight percent to 5,549 from 5,126 in Q1, based on data from ERA.

Industry watchers noted that the climb is due to the increasing number of second-timers opting for resale units instead of Build-to-Order (BTO) flats.

Mohamed Ismail, Chief Executive Officer at PropNex Realty, said: “With the moderation of HDB resale prices in Q1 2012, buyers who did not qualify under the BTO purchase requirements like the singles, permanent residents, HDB upgraders and downgraders, are still purchasing in this market segment.”

The estates that witnessed the highest number of Q2 resale transactions include Yishun (median resale price: S$377,000), Woodlands (median resale price: S$415,000) and Jurong West (median resale price: S$449,000).

Source : PropertyGuru – 2012 Jul 3