February 2023 BTO exercise sees 4,428 flats launched for sale
Amongst the remaining 3 BTO areas, one more resides in Kallang, Whampoa, along Jalan Rajah. It has 510 3- as well as four-room flats in 2 40-storey blocks. Rates begin with $326,000 for a three-room flat and from $459,000 for a four-room flat.
The area in Tengah might gather interest following the announcement of ACS Primary’s moving to Tengah in 2030. “This may result in even more applicants vying for this batch of flats, although we do not anticipate a large spike in numbers,” states Sun.
HDB has introduced 4,428 condos available for sale under the February 2023 Build-To-Order (BTO) exercise. The flats are spread throughout five locations over four neighborhoods– Queenstown, Kallang and Whampoa, Jurong West and Tengah. This is the initial BTO exercise since the Funds announcement, where actions targeted at helping newbie property buyers were introduced, including greater CPF housing grants for those seeking to get a resale flat.
Relating to the non-PLH properties, OrangeTee & Tie’s Sun projects the Jalan Rajah spot– though not alongside an MRT station– to still bring in strong interest provided its location near Toa Payoh Central, which has sufficient features.
Lee Sze Teck, Huttons Asia’s chief analysis director, adds that bordering amenities, consisting of Farrer Park Primary School, the upcoming mall Piccadilly Galleria, Tekka Market and City Square Shopping mall, further enhance the allure of the property. Lee includes that the other PLH venture in Queenstown, Ulu Pandan Glades, is close to another PLH project, Dover Forest, introduced last November. “The prices for flats in Ulu Pandan Glades resemble the earlier release.”
In Jurong West, HDB is releasing two residential blocks of 18 floors, which can place 271 units of 3- and also four-room apartments. The site rises along Jurong West Street 93. Rates start from $187,000 for a three-room flat and also from $288,000 for a four-room one.
The second PLH project is in Kallang and Whampoa, on a location bounded by Race Course Road, Hampshire Road and also Farrer Park Road. The development– Farrer Park Fields– are going to have seven 24-storey blocks housing 1,274 units of two-room flexi, three-room as well as four– space apartments. Indicative rates start from $185,000 for a two-room flexi flat, $356,000 for a three-room flat, moreover $484,000 for a four-room flat.
On the other hand, the Jurong West location is expected to gain from its site near Pioneer MRT Station. However, with just 271 flats, securing a flat via the balloting process might be difficult, claims One Global Group’s Sandrasegeran.
Sun adds that some newbie buyers might hang around up until the August BTO exercise, which is likely when the state will certainly enable newbie households to acquire an extra ballot for their BTO applications.
Consultants expect Farrer Park Fields to observe strong demand given its proximity to town and two MRT stations– Farrer Park along with Little India, the latter of which is an interchange for the Downtown and North-East Lines. “We can prepare for solid rivalry for Farrer Park Fields, especially since BTO developments in the Kallang as well as Whampoa neighborhood have a tendency to be increasingly contested when near an MRT terminal,” states Mohan Sandrasegeran, One Global Group’s top analyst for research and content creation.
Under the February 2023 BTO exercise, two of the 5 sites have actually been designated Prime Location Public Housing (PLH) projects. The very first – Ulu Pandan Glades – stands around Ghim Moh Link along with Commonwealth Avenue West in Queenstown, next to the Dover MRT Terminal. It will have 732 units consisting of three- also four-room flats. Suggestive prices start from $372,000 for a three-room apartment $541,000 for a four-room condo, omitting awards.
Christine Sun, senior vice president of research and analytics at OrangeTee & Tie, believes this might lead away some BTO demand to the resell market. “Since additional subsidies are provided, we may assume a lot more qualified purchasers to purchase prominent locations such as mature estates, or they might get somewhat bigger flats,” she claims.
The final site is in the Brickland district of Tengah estate, bounded by Brickland Road and Tengah Boulevard. With 1,641 units across 12 non commercial blocks, it is the most extensive site under the February 2023 BTO exercise and even the just one with five-room apartments. Other unit kinds are two-room flexi, 3- and four-room apartments. Rates start from $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.