HDB offers 1,050 new flats under BTO scheme

HDB is offering 1,050 additional units in Yishun and Jurong West under the build-to-order (BTO) scheme.

The number of BTO flats released since January has now reached 6,132, and more will be launched.

About 450 units will be offered at Jurong West Avenue 2, Boon Lay Grove, which is near the Boon Lay Shopping Centre, and is some distance from the Lakeside and Boon Lay MRT stations.

There will be 150 five-room flats and 300 four-room flats. Home buyers should expect prices between $298,000 and $358,000 for a five-roomer. The selling price of a comparable five-room resale unit in the area ranges from $365,000 to $415,000.

On the other hand, the BTO project at Yishun Avenue 11, Floral Spring @ Yishun, will have 600 units comprising 240 five-roomers, 264 four-roomers and 96 studio apartments.

The estate is located near a park and a HDB neighbourhood centre. But it is some distance from the Yishun and Khatib MRT stations.

The selling price for a five-room unit at Floral Spring @ Yishun will range from $289,000 to $332,000. A comparable five-room resale unit in the vicinity works out to around $340,000 and $374,000.

On May 19, applications for new flats will close. PropNex believes that demand for the two projects will be strong, and each is expected to be oversubscribed by at least six times.

PropNex pointed out that this is despite the fact that the two projects will be some distance from an MRT station. Owners may have to walk at least 10 to 15 minutes to reach the nearest station.

HDB plans to release at least 12,000 additional BTO units by September. It will be launching some 2,400 BTO units in Sengkang and Punggol in June, and some of the units will be from the first public housing parcel in the Punggol waterway.