BTO flats for sale in Woodlands

The Housing Board launched its build-to-order flats in Woodlands for the first time this year, with 815 flats already for sale.

The BTO flats called Champions Court, has 224 studio apartments, 185 five-room, 224 four-room flats and 182 three-room flats. It is the first BTO flats to offer in Woodlands.

In the recent update, 205 applications were received by the HDB, mostly for five-room and four-room flats. Twenty-one applications were received for three-room flats and 24 applications were received for studio apartments.

The household income ceiling per month in purchasing a three-room flat is $3,000, while the ceiling for studio apartments and five-room flats is $8,000.

Champions Court is situated at the junctions of Woodlands Avenue 1 and Champions Way, close to the Woodlands Regional Centre.

HDB stated that the prices of the new flats are below its equivalent prices to be affordable for first-time buyers.

The tentative price for five-room flats cost $247,000 to $296,000; $194,000 to 227,000 for four-room flats; and $118,000 to $142,000 for three-room flats.

According to the records of the Housing Board, the existing prices at the resale market of three-room flats range at $200,000 - $209,000, while four-room flats range at $225,000 - $278,000. Five-room resale flats are being sold at $304,000 - $345,000. Additionally, 45 square meter studio units can be purchased for $71,000 - $80,000, while 35 sq m studio apartments cost $57,000 - $64,000.

Mohd Ismail, PropNex chief executive, said the project will be over-subscribed nearly five times than expected.

“There's still strong demand for HDB flats in mature estates, particularly for four-room and five-room flats. The absolute prices for the bigger HDB flats in mature towns such as Woodlands are still more affordable than those in estates nearer town” Mr Ismail said.

He also said, “The recession has already hit the cash amount that buyers have to pay over the valuation price, but the volume of resale deals is so far largely steady.”

Last year, the average cash-over-valuation of resale condos in Woodlands decline to $15,000 in the fourth quarter from $18,000 in the third quarter.

Champions Court is accepting online submission of applications until March 11.