Homebuyers to benefit from new supply of flats

HDB has released 3,032 flats, including 1,408 units at the Build-To-Order (BTO) project Yishun Riverwalk and 1,624 units in Choa Chu Kang, Bukit Panjang, Bukit Batok, Jurong East/West, Hougang, Sembawang, Punggol, Woodlands and Sengkang under a Sale of Balanced Flats (SBF) exercise.

To continue the trend of providing estates with lifestyle amenities, Yishun Riverwalk will feature two shops, a mini-mart, eating house, childcare centre and Residents’ Committee Centre.

“The provision of all these services makes BTO flats all the more attractive for first-time buyers. In addition, Yishun Riverwalk is close to many amenities and is well-connected by its proximity to Yishun MRT station and bus interchange,” said Mr. Mohamed Ismail, chief executive of PropNex.

“Despite the measures announced by HDB yesterday to curtail speculative flipping, the demand for these flats will still be high as the buyers’ profile is such that the new measures would have little effect on them,” he added.

Mr. Ismail also indicated that the median price of flats at Yishun Riverwalk is very attractive. Based on HDB figures for Q2 2010, a three-room flat at the BTO project is priced approximately 39 percent lower compared to a similar flat in the estate, while a four- and five-room flat is around 21 percent to 23 percent cheaper.

With the high demand for public housing, the rate of oversubscription for the project is likely to be around five to six times, said Mr. Ismail.