February 2023 BTO exercise sees 4,428 flats launched for sale
The final area is in the Brickland area of Tengah estate, bounded by Brickland Roadway and Tengah Boulevard. With 1,641 units across 12 non commercial blocks, it is the most extensive location under the February 2023 BTO exercise including the only one with five-room apartments. Some other unit types are two-room flexi, 3- and four-room apartments. Rates 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 including $401,000 for a five-room flat.
Under the February 2023 BTO exercise, 2 of the 5 locations have been marked Prime Location Public Housing (PLH) properties. The very first – Ulu Pandan Glades – lies around Ghim Moh Link and Commonwealth Avenue West in Queenstown, next to the Dover MRT Terminal. It is going to have 732 units making up three- also four-room condos. Indicative prices start from $372,000 for a three-room condo $541,000 for a four-room flat, omitting grants.
The area in Tengah may garner interest following the news of ACS Primary’s moving to Tengah in 2030. “This may cause even more applicants trying this set of flats, although we do not anticipate a huge spike in numbers,” states Sun.
The 2nd PLH project is in Kallang as well as Whampoa, on an area bounded by Race Course Road, Hampshire Roadway and Farrer Park Road. The property– Farrer Park Fields– will have seven 24-storey blocks housing 1,274 units of two-room flexi, three-room as well as four– area apartments. Suggestive 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.
Sun adds that some first-time customers might wait up until the August BTO exercise, which is most likely when the state will permit first-time households to acquire an added ballot for their BTO applications.
Specialists expect Farrer Park Fields to see healthy interest offered its proximity to city and 2 MRT terminals– Farrer Park and Little India, the last of which is an interchange for the Downtown and North-East Lines. “We can expect solid competition for Farrer Park Fields, particularly since BTO properties in the Kallang as well as Whampoa vicinity tend to be fiercely debated when near an MRT station,” says Mohan Sandrasegeran, One Global Group’s superior expert for research and content creation.
Lee Sze Teck, Huttons Asia’s chief analysis director, incorporates that surrounding facilities, including Farrer Park Primary School, the coming mall Piccadilly Galleria, Tekka Market as well as City Square Shopping mall, additionally improve the appeal of the project. Lee includes that the many other PLH property in Queenstown, Ulu Pandan Glades, is close to one more PLH plan, Dover Forest, launched last November. “The prices for apartments in Ulu Pandan Glades resemble the earlier release.”
Amongst the remaining three BTO locations, one more remains in Kallang, Whampoa, around Jalan Rajah. It has 510 3- and also four-room apartments in 2 40-storey blocks. Prices start from $326,000 for a three-room flat and from $459,000 for a four-room flat.
In Jurong West, HDB is launching two home blocks of 18 floors, which are going to place 271 units of 3- as well as four-room condos. The location is located along Jurong West Street 93. Prices start from $187,000 for a three-room flat and also from $288,000 for a four-room one.
At the same time, the Jurong West site is anticipated to gain from its location near Pioneer MRT Station. Nevertheless, with only 271 apartments, getting a flat via the balloting procedure may be difficult, claims One Global Group’s Sandrasegeran.
Christine Sun, senior vice president of research and analytics at OrangeTee & Tie, believes this may divert some BTO demand to the resale market. “Given that additional assistances are given, we may anticipate a lot more suited customers to purchase preferred locations such as mature estates, or they may purchase slightly bigger flats,” she states.
HDB has released 4,428 condos available for sale under the February 2023 Build-To-Order (BTO) exercise. The flats are dispersed throughout 5 locations over 4 towns– Queenstown, Kallang and Whampoa, Jurong West and Tengah. This is the first BTO exercise since the Budget plan announcement, where procedures targeted at helping new property buyers were revealed, consisting of higher CPF housing grants for those aiming to buy a resale flat.
Concerning the non-PLH properties, OrangeTee & Tie’s Sun projects the Jalan Rajah spot– though not close to an MRT station– to still attract solid interest provided its place near Toa Payoh Central, which has sufficient services.
