February 2023 BTO exercise sees 4,428 flats launched for sale
In Jurong West, HDB is introducing two non commercial blocks of 18 floors, which are going to house 271 units of three- and also four-room apartments. The area lies 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.
Meanwhile, the Jurong West location is anticipated to gain from its location near Pioneer MRT Station. Nonetheless, with only 271 flats, obtaining a flat through the balloting process might be difficult, claims One Global Group’s Sandrasegeran.
Lee Sze Teck, Huttons Asia’s chief analysis director, includes that bordering facilities, including Farrer Park Primary School, the upcoming mall Piccadilly Galleria, Tekka Market and City Square Mall, additionally increase the charm of the work. Lee adds that the many other PLH property in Queenstown, Ulu Pandan Glades, is close to one more PLH plan, Dover Forest, introduced last November. “The prices for flats in Ulu Pandan Glades resemble the earlier launch.”
The area in Tengah might garner interest adhering to the announcement of ACS Primary’s moving to Tengah in 2030. “This might cause even more candidates trying this batch of apartments, although we do not anticipate a large spike in numbers,” claims Sun.
Among the lasting 3 BTO areas, an additional is in Kallang, Whampoa, along Jalan Rajah. It has 510 three- and also four-room flats in two 40-storey blocks. Prices start from $326,000 for a three-room flat and from $459,000 for a four-room flat.
HDB has recently launched 4,428 condos to sell under the February 2023 Build-To-Order (BTO) exercise. The apartments are dispersed throughout five locations over 4 communities– Queenstown, Kallang and also Whampoa, Jurong West and Tengah. This is the very first BTO exercise since the Budget announcement, where procedures targeted at aiding new buyers were introduced, including higher CPF real estate awards for those wanting to purchase a secondhand flat.
Under the February 2023 BTO exercise, two of the five areas have been assigned Prime Location Public Housing (PLH) undertakings. The first – Ulu Pandan Glades – is located around Ghim Moh Link and Commonwealth Avenue West in Queenstown, near to the Dover MRT Terminal. It will have 732 units comprising 3- also four-room flats. Suggestive prices begin with $372,000 for a three-room flat $541,000 for a four-room flat, leaving out grants.
Sun includes that some newbie buyers may wait up until the August BTO exercise, which is likely when the state will certainly enable first-time family members to acquire an extra ballot for their BTO applications.
Advisors expect Farrer Park Fields to see healthy demand provided its distance to community as well as two MRT terminals– Farrer Park together with Little India, the latter of which is an interchange for the Downtown and North-East Lines. “We can anticipate solid competition for Farrer Park Fields, particularly given that BTO developments in the Kallang and Whampoa neighborhood often tend to be fiercely disputed when near an MRT terminal,” states Mohan Sandrasegeran, One Global Group’s superior expert for research and content creation.
Concerning the non-PLH properties, OrangeTee & Tie’s Sun expects the Jalan Rajah site– though not alongside an MRT terminal– to still draw in solid demand given its site near Toa Payoh Central, which has enough services.
The last site is in the Brickland district of Tengah estate, bounded by Brickland Road and Tengah Boulevard. With 1,641 units throughout 12 non commercial blocks, it is the most extensive site under the February 2023 BTO exercise including the just one with five-room apartments. Some other unit kinds are two-room flexi, three- and four-room flats. Rates start from $97,000 for a two-room flexi flat, from $190,000 for a three-room flat, $291,000 for a four-room flat and $401,000 for a five-room flat.
The 2nd PLH project is in Kallang as well as Whampoa, on a location bounded by Race Course Road, Hampshire Roadway and Farrer Park Road. The project– Farrer Park Fields– are going to have seven 24-storey blocks housing 1,274 units of two-room flexi, three-room and also four– room flats. Indicative prices 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.
Christine Sun, senior vice president of research and analytics at OrangeTee & Tie, believes this might lead away some BTO demand to the resell market. “Given that additional aids are provided, we might anticipate extra eligible purchasers to purchase well-known locations such as developed estates, or they might buy slightly bigger flats,” she says.
