Artist’s impression of West Scape @ Bukit Batok. (Source: HDB)
UPDATED: The Housing and Development Board (HDB) today launched 5,291 flats for sale in its latest Build-To-Order (BTO) and inaugural Re-Offer of Balance Flats (ROF) exercise.
They include 3,897 BTO units spread across three projects in the non-mature towns of Bukit Batok and Sengkang. A range of 2-room Flexi to 5-room flats are available.
Excluding housing grants, prices start from $87,000 for a 2-room Flexi flat at Sky Vista @ Bukit Batok and West Scape @ Bukit Batok, and $78,000 for a similar unit at Rivervale Shores in Sengkang.
Eligible first-timer families can enjoy up to $80,000 of grants, comprising the Additional CPF Housing Grant and Special CPF Housing Grant of up to $40,000 each. As such, buyers of 2-room Flexi, 3-room, 4-room and 5-room flats could pay as little as $4,000, $84,000, $192,000, and $312,000 respectively.
“Affordability is expected to be the main draw this time around,” said Eugene Lim, Key Executive Officer at ERA Realty Network.
He expects the Bukit Batok flats to be popular due to their proximity to the Jurong Lake District and Tengah New Town, two growth areas identified by the government.
“Application rates will probably range from 1.5 to 3.5, in line with the previous Bukit Batok BTO flats in February 2016,” he said.
Application rates for the Sengkang flats are also expected to range from 1.5 to 3.5, going by past application rates, noted Lim.
He shared that the area will be served by the Bakau and Rumbia LRT stations, and residents of flats facing the Serangoon Reservoir will enjoy a relatively unblocked view and waterfront living.
Table 1: Aug 2017 BTO Prices
The HDB will also conduct the first ROF exercise and offer 1,394 unsold units from the November 2016 sale of balance flats (SBF) exercise. Spread across various estates, about 71 percent of the flats are already completed and the rest are under construction.
“Eligible families with more urgent housing needs and / or are less particular about location and attributes may wish to apply,” said the HDB. “Under this new sales mode, home buyers will be able to select their flats quicker, and from a bigger pool of balance flats of different flat types and in different locations.”
Applications for the flats can be submitted online on the HDB website from today till 7 August 2017.
The next BTO launch will take place in November. The HDB will offer about 4,800 flats in Geylang, Punggol, Sengkang and Tampines concurrently with a SBF exercise.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email email@example.com