February 2023 BTO exercise sees 4,428 flats launched for sale
The second PLH project remains in Kallang and Whampoa, on a location bounded by Race Course Road, Hampshire Roadway and also Farrer Park Road. The project– Farrer Park Fields– will have seven 24-storey blocks real estate 1,274 units of two-room flexi, three-room and also four– room flats. Indicative costs begin with $185,000 for a two-room flexi flat, $356,000 for a three-room flat, and also $484,000 for a four-room flat.
Meanwhile, the Jurong West site is anticipated to benefit from its venue near Pioneer MRT Station. Nonetheless, with just 271 flats, securing a flat via the balloting procedure may be difficult, says One Global Group’s Sandrasegeran.
The final location remains in the Brickland area of Tengah estate, bounded by Brickland Road and Tengah Boulevard. With 1,641 units around 12 housing blocks, it is the most extensive area under the February 2023 BTO exercise including the just one with five-room apartments. Some other unit types are two-room flexi, 3- and four-room flats. Costs begin with $97,000 for a two-room flexi flat, from $190,000 for a three-room flat, $291,000 for a four-room flat and $401,000 for a five-room flat.
The location in Tengah may garner interest complying with the statement of ACS Primary’s moving to Tengah in 2030. “This may result in more applicants vying for this batch of flats, although we do not expect a big spike in numbers,” says Sun.
Under the February 2023 BTO exercise, two of the five areas have been marked Prime Location Public Housing (PLH) undertakings. The very first – Ulu Pandan Glades – stands along Ghim Moh Link and Commonwealth Avenue West in Queenstown, near the Dover MRT Station. It will have 732 units making up 3- also four-room flats. Suggestive rates start from $372,000 for a three-room flat $541,000 for a four-room flat, leaving out subsidies.
In Jurong West, HDB is releasing two home blocks of 18 floors, which will house 271 units of 3- as well as four-room flats. The site lies along Jurong West Street 93. Costs start from $187,000 for a three-room flat and also from $288,000 for a four-room one.
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Lee Sze Teck, Huttons Asia’s chief research executive, includes that bordering amenities, including Farrer Park Primary School, the coming shopping mall Piccadilly Galleria, Tekka Market and City Square Shopping mall, additionally enhance the allure of the project. Lee adds that the many other PLH property in Queenstown, Ulu Pandan Glades, is close to another PLH project, Dover Forest, released last November. “The rates for flats in Ulu Pandan Glades resemble the earlier release.”
HDB has recently launched 4,428 condos available for sale under the February 2023 Build-To-Order (BTO) exercise. The apartments are spread across five sites over four towns– Queenstown, Kallang and Whampoa, Jurong West as well as Tengah. This is the initial BTO exercise since the Budget news, where measures targeted at helping first-time property buyers were announced, including higher CPF housing awards for those aiming to buy a secondhand flat.
Concerning the non-PLH projects, OrangeTee & Tie’s Sun expects the Jalan Rajah site– though not near to an MRT terminal– to still draw in strong demand provided its site near Toa Payoh Central, which has adequate facilities.
Amongst the remaining 3 BTO locations, another resides in Kallang, Whampoa, along Jalan Rajah. It has 510 three- and four-room flats in two 40-storey blocks. Rates start from $326,000 for a three-room flat and from $459,000 for a four-room flat.
Consultants assume Farrer Park Fields to observe strong interest provided its distance to town and also 2 MRT stations– Farrer Park along with Little India, the latter of which is an interchange for the Downtown and North-East Lines. “We can anticipate solid competitiveness for Farrer Park Fields, particularly given that BTO properties in the Kallang and also Whampoa neighborhood often tend to be very disputed when near an MRT station,” claims Mohan Sandrasegeran, One Global Group’s superior expert for research and content design.
Christine Sun, top vice ceo of research and analytics at OrangeTee & Tie, thinks this might lead away some BTO interest to the resale market. “Given that extra aids are given, we might assume much more suited buyers to purchase well-known locations such as developed estates, or they might get a little bigger apartments,” she states.
Sun adds that some newbie buyers may stand by till the August BTO exercise, which is likely when the authorities will certainly allow first-time families to get an extra ballot for their BTO applications.
