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 may divert some BTO need to the resell market. “Given that more subsidies are provided, we might just anticipate extra eligible purchasers to buy at well-known locations such as mature estates, or they might buy a little larger condos,” she states.
Sun includes that some first-time customers might hang around until the August BTO exercise, which is likely when the state will enable first-time families to obtain an extra ballot for their BTO applications.
Specialists assume Farrer Park Fields to find strong request given its distance to town and 2 MRT stations– Farrer Park and Little India, the latter of which is an interchange for the Downtown and North-East Lines. “We can prepare for solid competition for Farrer Park Fields, especially because BTO developments in the Kallang and also Whampoa vicinity often tend to be fiercely debated when near an MRT station,” states Mohan Sandrasegeran, One Global Group’s top analyst for research and content development.
Lee Sze Teck, Huttons Asia’s senior analysis director, adds that bordering amenities, consisting of Farrer Park Primary School, the forthcoming shopping mall Piccadilly Galleria, Tekka Market as well as City Square Mall, additionally improve the appeal of the property. Lee includes that the many other PLH property in Queenstown, Ulu Pandan Glades, is close to one more PLH project, Dover Forest, released last November. “The prices for flats in Ulu Pandan Glades are similar to the earlier release.”
The final location remains in the Brickland district of Tengah estate, bounded by Brickland Roadway and Tengah Blvd. With 1,641 units across 12 housing blocks, it is the biggest area under the February 2023 BTO exercise and even the only one with five-room flats. Other unit kinds are two-room flexi, three- and four-room apartments. 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.
The area in Tengah may amass attraction complying with the news of ACS Primary’s transfer to Tengah in 2030. “This might cause even more candidates vying for this batch of apartments, although we do not expect a large spike in numbers,” claims Sun.
HDB has launched 4,428 flats to sell under the February 2023 Build-To-Order (BTO) exercise. The flats are dispersed across five sites over 4 neighborhoods– Queenstown, Kallang and also Whampoa, Jurong West and Tengah. This is the initial BTO exercise since the Budget statement, where procedures targeted at helping new property buyers were revealed, consisting of greater CPF housing awards for those looking to acquire a secondhand flat.
Pertaining to the non-PLH properties, OrangeTee & Tie’s Sun projects the Jalan Rajah site– though not near to an MRT terminal– to still attract solid need offered its location near Toa Payoh Central, which has sufficient features.
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Among the lasting three BTO areas, another is in Kallang, Whampoa, around Jalan Rajah. It has 510 3- and also four-room flats in two 40-storey blocks. Costs begin with $326,000 for a three-room flat and from $459,000 for a four-room flat.
At the same time, the Jurong West site is anticipated to benefit from its venue near Pioneer MRT Terminal. Nevertheless, with just 271 apartments, getting a flat via the balloting process might be difficult, says One Global Group’s Sandrasegeran.
Under the February 2023 BTO exercise, 2 of the 5 locations have been marked Prime Location Public Housing (PLH) projects. The original – Ulu Pandan Glades – lies around Ghim Moh Link and Commonwealth Avenue West in Queenstown, close to the Dover MRT Terminal. It is going to have 732 units comprising 3- and four-room apartments. Indicative costs start from $372,000 for a three-room flat $541,000 for a four-room flat, leaving out subsidies.
The 2nd PLH venture is in Kallang as well as Whampoa, on a location bounded by Race Course Road, Hampshire Roadway as well as Farrer Park Road. The property– Farrer Park Fields– will have 7 24-storey blocks housing 1,274 units of two-room flexi, three-room as well as 4– room flats. Indicative costs begin with $185,000 for a two-room flexi flat, $356,000 for a three-room flat, and $484,000 for a four-room flat.
In Jurong West, HDB is introducing 2 non commercial blocks of 18 floors, which will place 271 units of three- as well as four-room apartments. The site rises along Jurong West Street 93. Rates begin with $187,000 for a three-room flat and from $288,000 for a four-room one.
