Applicants can expect to wait between 37 to 67 months for the seven projects in the August 2021 BTO launch to be completed. Source: HDB
A total of 4,989 Build-To-Order (BTO) flats across seven projects in Jurong East, Hougang, Queenstown, Kallang Whampoa and Tampines were launched for sale by the Housing and Development Board (HDB) on Wednesday (11 August).
More than half of the BTO flats are located in mature estates.
“Given the strong demand for housing, especially in mature estates, HDB has been building more new flats in mature estates in recent years, to provide options for flat buyers wishing to stay near their family members living in these estates for better mutual care and support,” said HDB.
HDB CEO Tan Meng Dui noted that despite delays of BTO projects under construction, the Housing Board remains committed “to provide a steady supply of new HDB flats to meet future housing needs”.
“We are also working hard with our industry partners and relevant agencies to keep ongoing BTO projects on track, amidst the difficult challenges facing the construction industry,” he added.
HDB said the newly launched BTO projects have waiting times of between 37 to 67 months or around three to five and a half years.
Queen’s Arc in Queenstown will have the longest waiting time of 67 months due to the additional preparation works needed for the site and the project’s design.
“One of the residential blocks within the project, at 39 storeys high, is taller than most of the other BTO projects. Hence, a longer construction time is required for this project,” explained HDB.
It also pointed that prices for the new flats are considerably lower compared to the nearby resale flats.
This comes as the BTO units are priced “with a generous subsidy, taking into account factors such as location, flat attributes and prevailing market conditions”.
Excluding grants, prices for a three-room and four-room flat at Queen’s Arc in Queenstown, for instance, start at $382,000 and $540,000, respectively.
Comparatively, transacted prices for nearby resale flats stand at between $580,000 and $608,000 for a three-room flat, and $790,000 and $875,000 for a four-room unit.
Applications for the BTO flats will close on 17 August. Under the BTO exercise, applicants can only apply for one flat type/category within one town. Applications can be made online at HDB InfoWEB.
Meanwhile, HDB revealed that it would offer around 4,400 BTO flats in towns and estates such as Hougang, Choa Chu Kang, Kallang Whampoa, Jurong West and Tengah in November 2021.
In February next year, another 2,000 to 3,000 BTO flats will also be offered in towns and estates such as Geylang, Yishun and Tengah.
Cheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email: email@example.com.