HDB launches 3957 BTO flats

The Housing & Development Board (HDB) launched six new Build-To-Order (BTO) projects last Friday.

With a total of 3,957 new flats, this is the single largest BTO launch, surpassing the 3,185 BTO flats offered last month.

“The government has certainly responded to the public’s demand for affordable housing, especially for first-time buyers,” says Mr. Adam Tan, Corporate Communications Manager at PropNex. “This is especially so, given that at least 95 percent of the units, or 3,759 flats, will be set aside for these first-timers.”

The six BTO projects — Costa Ris, Golden Lily, Punggol Parcvista, Tampines GreenLeaf, Tampines GreenWood and Woodlands Peak — are spread out over four estates located in Pasir Ris, Punggol, Tampines and Woodlands.

“All the estates are rather well-developed and should see a huge take-up rate from potential buyers,” said Mr. Tan.

Bounded by Pasir Ris Drives 1 and 8 and Pasir Ris Street 51, Costa Ris is a standard HDB project with 1,386 flats, comprising 257 two-room, 224 three-room, 688 four-room and 217 five-room flats. Unit prices range from S$120,000 for a two-room flat to S$436,000 for a five-room flat.

Meanwhile, Golden Lily is situated along Pasir Ris Drives 1 and 4. It comprises a 12-storey block of 185 studio apartments, with prices ranging between S$76,000 to S$83,000 for a 37 sq m unit and S$95,000 to S$102,000 for a 47 sq m unit.

Punggol Parcvista, bounded by Sumang Link, Sentul Crescent and Punggol, comprises 172 three-room, 338 four-room and 172 five-room flats, with prices ranging from S$166,000 for a three-room unit to S$410,000 for a five-room flat.

In line with plans to develop Punggol as an Eco-Town, the development has incorporated eco-friendly features in its building design for Green Mark certification.

Tampines GreenLeaf comprises 96 two-room, 160 three-room, 384 four-room and 320 five-room flats, while Tampines GreenWood has 144 studio apartments, 158 three-room units and 220 four-room units. Prices for both projects range from S$81,000 for a 37 sq m studio-type unit to S$444,000 for a five-room flat.

Despite large number of new flats released, Mr. Tan said that the overall oversubscription rate is expected to be around four times, given that demand from first-timers is still high, based on the previous BTO projects launched in 2010.

“Golden Lily at Pasir Ris and the studio apartments at Woodlands Peak will probably receive the lowest subscriptions,” he said, adding that “as these flats are not conducive for first-time buyers looking to start a family. Therefore, subscription rates for these might be only double or so.”