HDB launches almost 7,000 new flats in May sales exercise

HDB launches almost 7,000 new flats in May sales exercise

Minister for National Development Lawrence Wong said on Tuesday that the launch would help young couples - those who are still studying or serving National Service (NS), as well as those who have just completed their studies or NS - to buy their first homes sooner. 

SINGAPORE: The Housing and Development Board (HDB) has launched 6,992 flats for sale under the May 2018 Build-to-Order (BTO) and Sale of Balance Flats (SBF) exercise, it said in a press release on Tuesday (May 22).

Of the total, 3,970 are BTO units and 3,022 are SBF units across various towns and estates, HDB added.

BTO EXERCISE

The BTO flats are spread across four projects - two of which are in the non-mature towns of Sengkang and Yishun and another two in the mature towns of Toa Payoh and Tampines.

Eligible first-timer families can enjoy up to S$80,000 of housing grants, comprising the Additional CPF Housing Grant (AHG) (up to S$40,000) and the Special CPF Housing Grant (SHG) (up to S$40,000). 

"With these grants, buyers of 2-room Flexi, 3-room, 4-room and 5-room flats could pay as little as S$4,000, S$112,000, S$196,000 and S$330,000 respectively," HDB said.

HDB BTO May 2018

SBF EXERCISE

In addition to the BTO flats, HDB will also offer 3,022 balance flats under the SBF exercise. 

"They comprise 754 units of 2-room Flexi, 655 units of 3-room, 1,143 units of 4-room, 305 units of 5-room, 157 units of 3Gen and 8 units of executive flats across various towns/estates," HDB said.

The majority of the flats offered under the SBF exercise are reserved for first-timer families. Eligible first-timer singles may also apply for a 2-room flexi flat in non-mature towns. 

Application for new flats launched in the May 2018 BTO and SBF exercises can be submitted online on the HDB InfoWEB from May 22 until May 28, HDB said.

HDB said it will offer about 4,300 flats in Punggol and Yishun in August 2018. 

Casa Spring Yishun
Artist's impression of Casa Spring Yishun. (Image: HDB)

Minister for National Development Lawrence Wong said on Tuesday that the launch would help young couples - those who are still studying or serving National Service (NS), as well as those who have just completed their studies or NS - to buy their first homes sooner. 

"We will allow them to defer their income assessment for housing grants and loan purposes," he said in the Facebook post. 

Tampines Greenvines HDB
Artist's impression of Tampines Greenvines. (Image: HDB)

Mr Wong first announced the deferment of income assessment in March in Parliament, saying that the Government can "exercise some flexibility to support (young couples) in their marriage and parenthood journey". 

These couples will be able to apply for their flat first, then have their incomes assessed for grants or loans just before key collection. 

Mr Wong added that while waiting for the flat to be ready, couples can start working to build up their finances. 

"With the various flat types and locations to choose from, I hope all home-buyers will be able to find a home that meets their budget and needs," said Mr Wong. 


Fernvale Dew
Artist's impression of Fernvale Dew. (Image: HDB)

Source: CNA/mn

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