HDB offers 4,428 BTO flats, including two under prime housing model in Dover Forest, Farrer Park

Feb 28, 2023 | 🚀 Fathership AI

The Housing Board (HDB) in Singapore launched 4,428 Build-To-Order (BTO) flats for sale, including two projects under the prime location public housing (PLH) model in Dover Forest and Farrer Park.

  • The two PLH projects have stricter buying and selling conditions, including a 6% subsidy clawback upon their sale.
  • Three other projects are included in the sales exercise, one in Kallang/Whampoa, and two in non-mature estates of Jurong West and Tengah.
  • All four-room flats offered in the non-mature estates are below $400,000 before grants, with a median waiting time of about 4.4 years.
  • The flats in Ulu Pandan Glades in Queenstown are the most expensive in the launch, ranging from $372,000 to $711,000.
  • Flat owners in the two PLH projects will have to pay 6% of the resale price or valuation to HDB when they sell their homes on the open market for the first time. They will also be bound by a 10-year minimum occupation period (MOP) before they can sell.
  • In May 2023, about 5,400 BTO flats in towns such as Tengah, Bedok, Kallang/Whampoa and Serangoon will be launched.
  • HDB is monitoring demand closely and is prepared to launch up to 100,000 flats from 2021 to 2025.

The two PLH projects are likely to be the most in-demand among home seekers due to their proximity to major transport nodes and the city center. Property analysts predict some home seekers may consider purchasing HDB resale flats due to the increased CPF Housing Grant announced during Budget 2023, which could ease application rates.

  • The most affordable BTO project is Jurong West Crystal, with prices ranging from $187,000 to $372,000 for a three-room or four-room flat.
  • Tengah’s Brickland Weave may see some interest due to its proximity to Anglo-Chinese School (ACS) Primary, which will shift to Tengah in 2030.

Applications for the BTO flats close at 11.59pm on March 6, 2023, on the HDB flat portal. Flats will be allocated through balloting.

Source: The Straits Times

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