SINGAPORE: A total of 8,748 new flats were launched on Thursday (May 18) under the May 2017 Build-to-Order (BTO) and Sale of Balance Flats exercise, the Housing and Development Board (HDB) said.
There will be six new BTO projects – two in Woodlands, one in Yishun, two in Bidadari and one in Geylang – with 4,802 flats. The flats are priced from S$73,000 for a two-room Flexi flat in Woodlands to S$622,000 for a 3Gen flat in Bidadari.
A total of 3,946 balance flats in 11 non-mature towns and 14 mature towns and estates are also on offer. These flats are priced from S$73,000 for a two-room Flexi unit to S$480,000 for an executive flat.
Starting from this sales exercise, HDB will implement the Deferred Downpayment Scheme, where elderly flat owners aged 55 years and above who “right size” to a two-room Flexi or three-room uncompleted flat may defer the downpayment on their new flat until they collect their keys.
The scheme will be extended automatically to eligible flat buyers and will help ease the cash flow for elderly flat owners whose funds are tied up in their existing home, HDB said.
Applications for new flats can be submitted online at HDB's website from now until next Wednesday.
National Development Minister Lawrence Wong on Thursday said in a Facebook post that the "bumper crop" of flats will give potential home-buyers more options to find a home that meets their budgets and needs.
He urged those who are flexible with location to consider improving their flat application chances by trying for those in non-mature estates of Woodlands and Yishun, considering that those in the mature estates of Bidadari and Geylang "tend to be more popular and the application rates higher".
This is the second BTO launch this year, bringing the total number of BTO flats offered this year to 8,858 units. Together with the 3,946 balance flats offered in this exercise, HDB has launched a total of 12,804 flats for sale in the first half of this year.
Another 3,850 flats in Bukit Batok and Sengkang will be launched in August, HDB said.