February 2023 BTO exercise sees 4,428 flats launched for sale
The 2nd PLH property remains in Kallang and Whampoa, on an area bounded by Race Course Road, Hampshire Roadway and also Farrer Park Road. The project– Farrer Park Fields– are going to have seven 24-storey blocks real estate 1,274 units of two-room flexi, three-room and 4– area flats. Suggestive prices start from $185,000 for a two-room flexi flat, $356,000 for a three-room flat, moreover $484,000 for a four-room flat.
Regarding the non-PLH projects, OrangeTee & Tie’s Sun expects the Jalan Rajah site– though not near to an MRT station– to still draw in solid demand provided its location near Toa Payoh Central, which has enough services.
Sun includes that some new buyers may hang around up until the August BTO exercise, which is likely when the authorities will allow first-time family members to acquire an additional ballot for their BTO applications.
Christine Sun, senior vice ceo of research and analytics at OrangeTee & Tie, strongly believes this may draw away some BTO demand to the resale market. “Considering that extra subsidies are provided, we may assume much more qualified customers to buy at preferred locations such as developed estates, or they may acquire somewhat larger flats,” she says.
The area in Tengah might gather attraction following the news of ACS Primary’s moving to Tengah in 2030. “This may lead to more candidates trying this batch of flats, although we do not expect a huge spike in numbers,” says Sun.
In Jurong West, HDB is launching 2 non commercial blocks of 18 floors, which are going to house 271 units of 3- and four-room condos. The area rises along Jurong West Street 93. Prices start from $187,000 for a three-room flat and also from $288,000 for a four-room one.
Amongst the lasting 3 BTO sites, one more is in Kallang, Whampoa, around Jalan Rajah. It has 510 three- and four-room flats in 2 40-storey blocks. Rates begin with $326,000 for a three-room flat and from $459,000 for a four-room flat.
Lee Sze Teck, Huttons Asia’s chief analysis director, includes that bordering amenities, including Farrer Park Primary School, the upcoming shopping center Piccadilly Galleria, Tekka Market and also City Square Shopping mall, better increase the appeal of the work. Lee adds that the many other PLH project in Queenstown, Ulu Pandan Glades, is close to one more PLH plan, Dover Forest, launched last November. “The costs for flats in Ulu Pandan Glades are similar to the earlier release.”
Under the February 2023 BTO exercise, two of the 5 areas have actually been designated Prime Location Public Housing (PLH) undertakings. The original – Ulu Pandan Glades – lies along Ghim Moh Link along with Commonwealth Avenue West in Queenstown, near to the Dover MRT Station. It will have 732 units making up three- and four-room condos. Indicative costs begin with $372,000 for a three-room apartment $541,000 for a four-room condo, excluding awards.
Specialists assume Farrer Park Fields to find healthy interest offered its distance to town as well as two MRT stations– Farrer Park together with Little India, the last of which is an interchange for the Downtown and North-East Lines. “We can expect solid competition for Farrer Park Fields, specifically since BTO projects in the Kallang and also Whampoa neighborhood tend to be increasingly disputed when near an MRT terminal,” states Mohan Sandrasegeran, One Global Group’s senior analyst for research and content development.
The last location is in the Brickland area of Tengah estate, bounded by Brickland Road and Tengah Blvd. With 1,641 units throughout 12 non commercial blocks, it is the biggest site under the February 2023 BTO exercise and the only one with five-room flats. Some other unit types are two-room flexi, 3- and four-room apartments. Rates 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.
HDB has recently launched 4,428 flats available for sale under the February 2023 Build-To-Order (BTO) exercise. The flats are dispersed across 5 areas over four towns– Queenstown, Kallang and Whampoa, Jurong West as well as Tengah. This is the first BTO exercise since the Budget statement, where measures targeted at assisting first-time buyers were announced, including higher CPF housing grants for those aiming to purchase a resale flat.
On the other hand, the Jurong West area is expected to benefit from its venue near Pioneer MRT Station. However, with just 271 apartments, obtaining a flat with the balloting process might be challenging, claims One Global Group’s Sandrasegeran.