Artist's impression of Havelock Hillside, one of the seven projects launched under the August 2022 BTO exercise (Picture: HDB)
SINGAPORE (EDGEPROP) - HDB has launched 4,993 flats for sale under the August 2022 Build-To-Order (BTO) exercise. The flats are spread across seven projects, including two located in Bukit Merah under the Prime Location Public Housing (PLH) model.
Read also: Lower application rates for PLH projects in May 2022 BTO exercise
The two projects under the PLH model, dubbed Havelock Hillside and Alexandra Vale, will offer a total of 1,651 units, comprising a mix of three- and four-room flats. According to HDB, up to 20% of the PLH flats in the two projects will be set aside for first-timer families, and up to 2% will be for second-timer families, under the Married Child Priority Scheme.
Havelock Hillside is located along Havelock Road, near the upcoming Havelock MRT Station on the Thomson-East Coast Line. It will have a total of 869 units. Alexandra Vale, with 782 flats, is located along Alexandra View, close to Redhill MRT Station. Prices for the PLH flats will start from $370,000 for a three-room flat and from $531,000 for a four-room flat, excluding grants.
According to Christine Sun, senior vice president of research & analytics at OrangeTee & Tie, the flats are “very affordable” in comparison to private condos in the vicinity, where resale prices range from around $1,500 to $2,100 psf. This means a condo unit similar in size to the four-room flats at Havelock Hillside and Alexandra Vale, which are around 925 sq ft, could cost between $1.39 and $1.94 million.
Artist's impression of Alexandra Vale project (Picture: HDB)
Of the remaining five BTO projects, two are located in the mature estates of Ang Mo Kio and Tampines, while three are located in non-mature estates — Choa Chu Kang, Jurong and Woodlands.
The project in Ang Mo Kio is called Central Weave @ AMK. and is located in the Ang Mo Kio Town Centre, less than 10 minutes’ walk from Ang Mo Kio MRT Station. There are a total of 896 units comprising a mix of two-room flexi, four-room, five-room and 3Gen flats. Prices will start from $198,000 for a two-room flexi flat, from $535,000 for a four-room flat, from $720,000 for a five-room flat, and from $713,000 for a 3Gen flat, excluding grants.
Lee Sze Teck, senior director (research) at Huttons Asia, believes the project will see keen interest, given its central location close to amenities. “Central Weave @ AMK is the first BTO in Ang Mo Kio Central since Cheng San Court in 2012,” he adds. Meanwhile, Orangetee & Tie’s Sun highlights that 10% of the units are set aside for residents of the four HDB blocks in Ang Mo Kio chosen for the Selective En bloc Redevelopment Scheme (SERS), which may further support applicant rates. (See potential condos with en bloc calculator)
Artist's impression of Central Weave @ AMK (Picture: HDB)
The project in Tampines, Sun Plaza Spring, is on a site bounded by Tampines Street 41 and Tampines Street 42, close to Sun Plaza Park. It comprises 267 four- and five-room flats. Prices start from $381,000 for four-room flats and from $520,000 for five-room flats, excluding grants.
For the projects in the non-mature estates, there will be a total of 2,179 units. All three projects will have a mix of two-room flexi, three- and four-room flats, while the project at Choa Chu Kang will also have five-room flats.
Prices for the flats in the non-mature estates start from $97,000 for a two-room flexi flat, from $188,000 for a three-room flat, from $277,000 for a four-room flat, and from $390,000 for a five-room flat.
Price table for projects under August 2022 BTO exercise (Source: HDB)
In tandem with the August BTO exercise, HDB has announced it will increase the number of BTO flats in non-mature estates for first-timer applicants. At least 85% of the three-room flats and 95% of the four-room and larger flats will be set aside for first-timer families, up from 70% and 85% respectively. For first-timer singles, up to 65% of the non-senior two-room flexi flats will be set aside, up from 50%. (Find HDB flats for rent or sale with our Singapore HDB directory)
Mohan Sandasegaran, senior analyst, research & content creation at One Global Group, believes the revised allocation quota will draw more first-timer applicants to the projects in the non-mature estates. “Projects in the non-mature estates are more affordable and have shorter waiting periods than flats in mature estates,” he adds.
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