February 2023 BTO exercise sees 4,428 flats launched for sale
Christine Sun, top vice ceo of research and analytics at OrangeTee & Tie, believes this can lead away some BTO need to the resell market. “Since extra assistances are provided, we might just assume extra qualified customers to buy at well-known locations such as developed estates, or they may get slightly larger flats,” she says.
HDB has introduced 4,428 condos available for sale under the February 2023 Build-To-Order (BTO) exercise. The condos are dispersed across 5 locations over 4 towns– Queenstown, Kallang and Whampoa, Jurong West as well as Tengah. This is the initial BTO exercise since the Funds news, where measures targeted at helping newbie homebuyers were revealed, including greater CPF real estate grants for those aiming to purchase a secondhand flat.
In Jurong West, HDB is introducing two residential blocks of 18 storeys, which can house 271 units of 3- and also four-room flats. The area lies along Jurong West Street 93. Costs begin with $187,000 for a three-room flat and also from $288,000 for a four-room one.
Concerning the non-PLH properties, OrangeTee & Tie’s Sun expects the Jalan Rajah area– though not near to an MRT terminal– to still draw in solid demand given its location near Toa Payoh Central, which has enough services.
The second PLH property remains in Kallang and Whampoa, on a location bounded by Race Course Road, Hampshire Road as well as Farrer Park Road. The project– Farrer Park Fields– are going to have 7 24-storey blocks housing 1,274 units of two-room flexi, three-room and four– space apartments. Suggestive prices 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.
Consultants expect Farrer Park Fields to find strong demand offered its proximity to town and also two MRT stations– Farrer Park and Little India, the last of which is an interchange for the Downtown and North-East Lines. “We can expect strong competitiveness for Farrer Park Fields, specifically given that BTO developments in the Kallang as well as Whampoa proximity have a tendency to be fiercely debated when near an MRT station,” states Mohan Sandrasegeran, One Global Group’s senior expert for research and content creation.
The remaining site remains in the Brickland region of Tengah estate, bounded by Brickland Roadway and Tengah Boulevard. With 1,641 units throughout 12 non commercial blocks, it is the largest location under the February 2023 BTO exercise and even the only one with five-room apartments. Some other unit types are two-room flexi, 3- and four-room flats. Prices 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.
Amongst the lasting 3 BTO areas, one more resides in Kallang, Whampoa, around Jalan Rajah. It has 510 three- and also four-room apartments in 2 40-storey blocks. Rates begin with $326,000 for a three-room flat and from $459,000 for a four-room flat.
Meanwhile, the Jurong West location is anticipated to benefit from its site near Pioneer MRT Station. Nevertheless, with just 271 flats, obtaining a flat with the balloting process might be challenging, states One Global Group’s Sandrasegeran.
The area in Tengah might garner interest complying with the announcement of ACS Primary’s transfer to Tengah in 2030. “This may result in more applicants vying for this set of apartments, although we do not expect a huge spike in numbers,” states Sun.
Sun adds that some first-time customers might hang around until the August BTO exercise, which is most likely when the authorities will certainly enable first-time families to receive an additional ballot for their BTO applications.
Lee Sze Teck, Huttons Asia’s senior analysis executive, adds that surrounding facilities, including Farrer Park Primary School, the upcoming shopping center Piccadilly Galleria, Tekka Market and City Square Mall, better improve the appeal of the work. Lee adds that the many other PLH project in Queenstown, Ulu Pandan Glades, is close to another PLH project, Dover Forest, launched last November. “The costs for apartments in Ulu Pandan Glades resemble the earlier release.”
Under the February 2023 BTO exercise, 2 of the five sites have actually been assigned Prime Location Public Housing (PLH) properties. The very first – Ulu Pandan Glades – is located around Ghim Moh Link and Commonwealth Avenue West in Queenstown, near the Dover MRT Station. It is going to have 732 units making up 3- and four-room apartments. Indicative rates start from $372,000 for a three-room apartment $541,000 for a four-room flat, leaving out awards.
