HDB has just put up 4000 new BTO flats for first-time buyers. Located in mature estates such as Pasir Ris, Tampines, Woodlands and Punggol, with MRT stations nearby, they start at $76,000 for a studio apartment.
Costa Ris BTO flats in Pasir Ris. Image courtesy of HDB.
The single largest batch of Build-to-Order (BTO) flats ever offered by the Housing Board (HDB) was launched yesterday.
Nearly 4,000 new flats in six projects have been launched in Pasir Ris, Punggol, Tampines and Woodlands. Many are close to MRT stations and other facilities.
At least 95 per cent of the flats will be set aside for first-time buyers.
The latest offering of 3,957 flats lifts the total number of BTO flats launched in the first five months of this year to 12,000.
Punggol Parcvista BTO flats. Image courtesy of HDB.
The latest batch easily surpasses the 3,185 launched last month.
HDB is offering a wide range of flats for all budgets.
First-time buyers will be allowed to take advantage of the existing grants such as the Additional Central Provident Fund (CPF) Housing Grant.
Some buyers are also entitled to the Special CPF Housing Grant – only applicable when purchasing a three-room standard flat in Punggol Parcvista and Woodlands Peak.
Excluding grants, studio apartments will start from $76,000, three-room flats start from $166,000 and five-room units from $335,000.
The largest number of flats among the latest batch are four-roomers – 1,630 – while two-roomers are the fewest, at 353.
PropNex corporate communications manager Adam Tan said the move shows the Government has ‘responded to the public’s demand for affordable housing’.
‘All the estates are rather well-developed and should see a huge take-up rate from potential buyers,’ he added.
Mr Tan expects an oversubscription of the flats on offer as the BTO flats are being sold at lower prices than similar resale flats in those areas.
Tampines Green Leaf BTO flats. Image courtesy of HDB.
‘The three-room flats in Tampines GreenLeaf and Tampines GreenWood, for example, are a whopping 35 per cent cheaper than resale flats in that town and should therefore be very popular with first-time buyers with a tight budget.’
The names of the projects are Costa Ris and Golden Lily in Pasir Ris, Punggol Parcvista, Tampines GreenLeaf, Tampines GreenWood and Woodlands Peak.
Applications can be lodged online until next Thursday.
Editor’s Commentary:
Young couples hoping to start their families have something to cheer for. This may answer the affordability issue for young couples and those who can form a family unit. What about other types of families or individuals who may not qualify to buy new flats? Are there any options other than buying resale flats or private property which they may not be able to afford?
Related posts:
Loading ...
[...] the market last Friday when new National Development Minister Khaw Boon Wan announced that more build-to-order (BTO) flats would be built this [...]