HDB launches BTO project in Punggol

A build-to-order (BTO) project at Punggol was launched the previous day by The Housing & development Board (HDB). It is the second this year, with the project at Woodlands launched last February being the first.

The Nautilus at Punggol, which is a 519-unit project located at the intersection of Punggol Field and Punggol East, is set to offer 106 five- and 413 four-room apartments.

apartments with four rooms will have a price ranging from $228,000 to $274,000, while five-bedders are $305,000 to $357,000. Units at Nautilus are considerably cheaper compared to those of the same apartments in the market, making them reasonably priced for those who will be purchasing for the first time, as stated by the HDB. The developer also added that it is the differences in design and location that make the units more inexpensive than the latest BTO launches.

Punggol Regalia and Punggol Arcadia are premium projects, which featured enhanced internal finishes and better designs, while Nautilus has more basic features as it is a standard project. Additionally, the project is located way off from the main transport and the town centre, compared to the last two BTO projects.

On the other hand, solid demand is still anticipated by analysts. Adam Tan, PropNex spokesman, said “Nautilus is expected to be popular” as it has “very attractively priced” flats.

HDB’s latest BTO offerings have established strong demand. Last month, the Woodlands BTO project was launched and received over four times subscription.

Furthermore, two other projects released late last year, one in Punggol and the other one in Choa Chu Kang, also did well.

Around 3,000 apartments are projected to be set by HDB for the current year as part of their strategy to reform the estate.