Channel NewsAsia
Updated: 11/21/2012 18:43 | By Channel NewsAsia

7 BTO projects launched, BTO supply in 2012 a record

7 BTO projects launched, BTO supply in 2012 a record


7 BTO projects launched, BTO supply in 2012 a record

SINGAPORE: HDB launched seven Build—To—Order (BTO) projects on Wednesday, offering 6,463 new flats in two non—mature towns (Choa Chu Kang and Sengkang) and three mature towns (Bedok, Queenstown and Toa Payoh).

With this launch, the total BTO flat supply in 2012 will reach 27,084 units. This will be the largest BTO supply in a year since the BTO system was introduced in 2002.

Together with another 7,153 balance flats offered earlier in the March and September 2012 Sale of Balance Flats (SBF) exercises, HDB has launched a total of 34,237 new flats in 2012.

In January 2013, HDB will offer about 3,320 BTO flats in Ang Mo Kio, Choa Chu Kang, Hougang, Kallang Whampoa, Tampines and Yishun.

HDB is planning for at least 20,000 BTO flats in 2013.

First—timers will continue to enjoy priority flat allocation with at least 95% and 85% of the BTO flat supply (excluding Studio Apartments) set aside for them in mature towns and non—mature towns respectively.

The Multi—Generation Priority Scheme (MGPS) will be available to those applying for flats at Fengshan GreenVille, Ghim Moh Edge and Toa Payoh Crest.

Elderly flat owners in Bedok, Queenstown and Toa Payoh will also enjoy doubled balloting chances under the Ageing—In—Place Priority Scheme (APPS) when they apply for a Studio Apartment in Fengshan GreenVille, Ghim Moh Edge and Toa Payoh Crest.

Eigible first—timer households can also enjoy up to $60,000 of housing grants comprising Additional CPF Housing Grant ($40,000) and Special CPF Housing Grant ($20,000).

Inclusive of these grants, 3—room flats will be priced from as low as S$111,000 and 4—room flats from S$228,000. This will help young couples buy their first home (See table below).

Property agency Dennis Wee Group expects Compassvale Mast in Sengkang to see the highest take—up.

Mr Lee Sze Teck, Senior Manager of Research & Consultancy at Dennis Wee Group, said: "Although it is not in a mature town but it is next to the MRT station where you have a lot of amenities in the area. For mature estates, the development generally starts from the town centre and it moves outwards as the town grows.

"So with this new BTO in mature estates, they will generally be further away from the town centre, which explains why some of these BTOs in this November launch is a bit further away from the town centre, although they are still within a mature estate themselves."

He said the overall subscription rate for the BTO launches is expected to be between 1 and 2, while Compassvale Mast might see a subscription rate of 2.5.

— CNA/ir

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