Recreational lifestyle near the new BTO flats

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HDB has released 1,322 new BTO flats in two projects – Anchorvale Horizon and Senja Parc View. However, the Anchorvale Horizon project, which offers 745 premium BTO flats, is expected to be more popular with buyers.

“The immediate area around Anchorvale Horizon is more developed than the immediate area around Senja Parc View,” said Mr. Adam Tan, corporate communications manager at PropNex, referring to several facilities in the area, as well as to the connectivity offered by the nearby expressway and LRT stations.

“For those looking to start a family in the next few years, there are also the parks close by as well as the primary schools,” said Mr. Tan, noting the Compass Point within the proximity will be a selling point.

Mr. Tan expects the four- and five-room flats offered in Anchorvale Hoziron to be between 15 percent and 20 percent lower than the median price for similar flats offered in the area, but he pointed out that the 240 studio apartments, which will cater to the elderly, may pull that number down as that is a high percentage of flats that are catered for singles or couples.

Over at Senja Parc View project, Mr. Tan expects the main driving force of the project to be the low flat costs, especially the 112 four-room flats, which are priced at between $242,000 and $312,000.

“Based on HDB’s 3Q10 median resale prices for 4-room flats in Bukit Panjang, the median price of a 4-room BTO flat at Senja Parc View is a good 40% lower,” he said, although he expects that the over-subscription rate for the project will be lower compared with Anchorvale Horizon.

Though the total number of HDB flats offered this year now stands at around 15,527 units, he still expects the take-up rate to remain high.

“Median COV levels for the flats that are being offered are still in the $25,000 to $35,000 range,” said Mr. Tan. “This will still pose a hindrance to younger first-timers who may not have that kind of disposable cash at hand to spend in the resale market.”

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