HDB launches largest BTO offering in November exercise, application period extended to 9 days
Three of the 10 projects - two in Queenstown and one in Kallang Whampoa - fall under the Prime Location Public Housing (PLH) model.
SINGAPORE: The Housing and Development Board (HDB) on Wednesday (Nov 23) launched more than 9,600 flats for sale under the November Build-To-Order (BTO) exercise, the largest BTO offering in a single launch.
HDB also extended the application period for the November BTO and Sales of Balance (SBF) exercise to nine days, up from the typical seven days. This is to allow prospective buyers more time to consider the wide range of flats offered.
Applicants will be able to make their flat applications from Nov 23 to Dec 1 and applications can be made online on HDB InfoWEB.
HDB reminded buyers that applications for the new flats are shortlisted using a computer ballot and not on a first come-first served basis.
Applicants can apply for only one flat type or category in one town under either exercise, and they do not need to visit HDB Hub to get the information or make an application.
HDB said the vast majority of flats in non-mature estates are set aside for first-timers.
"With a higher proportion of flats launched in non-mature estates and additional ballot chances for first-timers, first-timer applicants who apply for a BTO flat in the non-mature estates enjoy a higher chance of success in securing a flat," it said.
A total of 9,655 flats were launched under the November BTO exercise, with the units spread across 10 projects in both mature and non-mature estates in Kallang Whampoa, Queenstown, Bukit Batok, Tengah, and Yishun.
About 60 per cent or 5,681 units are offered in non-mature estates, making up almost half the number of flats offered in non-mature estates in the whole of 2022, said HDB.
PRIME LOCATION PROJECTS
Three projects - Ghim Moh Natura, Ulu Pandan Banks and Kallang Horizon - are offered under the Prime Location Public Housing (PLH) model.
The PLH was introduced last year to ensure that new public housing in prime and central locations remains affordable and accessible to Singaporeans.
As flats under the PLH model are priced with additional subsidies on top of the subsidies already provided for all BTO flats, owners of these flats will have to return to HDB 6 per cent of the higher resale price or valuation upon selling their units.
Both Ghim Moh Natura and Ulu Pandan Banks will be located in Queenstown, while Kallang Horizon will be located in Kallang Whampoa.
With the three additional projects, there will be a total of 10 projects under the PLH model.
For the first time, HDB is providing some two-room flexi units under the PLH model in Ghim Moh Natura.
The subsidy recovery will similarly apply to two-room Flexi flats sold on 99-year leases. However, the recovery will not apply to two-room Flexi flats on short leases as those flats cannot be sold on the market.
WAITING TIME FOR BTO PROJECTS
For BTO projects launched in November, the median waiting time is about 4.5 years.
HDB advised buyers who are looking to move into their flats sooner to consider applying for the units at Garden Waterfront I & II @ Tengah, which has the shortest waiting time at about 3.3 years or 40 months.
Projects with a large number of dwelling units, higher storeys, challenging site conditions or more complex designs may take a longer time to complete.
"Nonetheless, the median waiting time of all the BTO projects launched in 2022 remains between 4 to 4.5 years," said HDB.
For BTO flats under the PLH model, flat prices before housing grants start from S$$206,000 for a two-room Flexi flat in Queenstown. For a three-room flat and four-room flat in Kallang Whampoa, flat prices before housing grants start from S$$335,000 and S$509,000 respectively.
Prices are also lower in non-mature estates. In Yishun, flat prices excluding grants start from S$$84,000 for a two-room Flexi flat, S$$175,000 for a three-room flat, S$$248,000 for a four-room flat and S$366,000 for a five-room unit.
In Queenstown, prices start at S$392,000 for a three-room unit and S$551,000 for a four-room unit.
HDB's Chief Executive Officer Tan Meng Dui said the number is bigger than the total flat supply of a typical BTO sales exercise, thus offering a wide range of affordable flats for buyers.
"With 95 per cent of 4-room and larger flats in this bumper crop set aside for first-timer households, and additional ballot chances for them, we encourage first-time applicants to apply for flats in the non-mature estates to increase their chances of securing a new BTO flat."
Together with 1,071 units offered under the Sale of Balance Flats exercise, a total of 10,726 new flats are offered in this sales exercise, said HDB.
The balance flats are offered at various locations and about 31 per cent of the flats have been completed, while the rest are in various stages of construction.
HDB has offered a total of 27,118 flats in 2022, this includes the 3,023 SBF and 911 flats offered via open booking.
FUTURE BTO PROJECTS
In February 2023, HDB will offer about 4,400 BTO flats in towns or estates such as Jurong West, Tengah, Kallang Whampoa, and Queenstown.
Between 3,800 to 4,800 flats will be offered in towns or estates such as Tengah, Bedok, Kallang Whampoa, Serangoon, and Queenstown in May 2023.
"This number is subjected to review as more project details will be firmed up closer to the launch date.
"HDB will continue to monitor the housing demand closely and is prepared to launch up to 100,000 flats in total from 2021 to 2025 if needed."