February 2023 BTO exercise sees 4,428 flats launched for sale
The area in Tengah might gather interest adhering to the announcement of ACS Primary’s transfer to Tengah in 2030. “This might lead to even more candidates vying for this set of flats, although we do not expect a big spike in numbers,” says Sun.
Meanwhile, the Jurong West site is anticipated to gain from its venue near Pioneer MRT Terminal. Nonetheless, with just 271 flats, securing a flat through the balloting procedure may be tough, says One Global Group’s Sandrasegeran.
Christine Sun, senior vice ceo of research and analytics at OrangeTee & Tie, believes this may divert some BTO interest to the resale market. “Since extra aids are provided, we might expect more eligible customers to buy at prominent locations such as mature estates, or they might purchase a little bigger flats,” she states.
Among the remaining 3 BTO sites, another is in Kallang, Whampoa, around Jalan Rajah. It has 510 3- and four-room apartments in two 40-storey blocks. Prices start from $326,000 for a three-room flat and from $459,000 for a four-room flat.
In Jurong West, HDB is launching 2 home blocks of 18 storeys, which can house 271 units of 3- and four-room apartments. The location is located along Jurong West Street 93. Rates begin with $187,000 for a three-room flat and from $288,000 for a four-room one.
The 2nd PLH venture remains in Kallang and Whampoa, on a location bounded by Race Course Road, Hampshire Road as well as Farrer Park Road. The project– Farrer Park Fields– are going to have seven 24-storey blocks real estate 1,274 units of two-room flexi, three-room and also 4– room apartments. Indicative costs begin with $185,000 for a two-room flexi flat, $356,000 for a three-room flat, and also $484,000 for a four-room flat.
Under the February 2023 BTO exercise, 2 of the 5 areas have been designated Prime Location Public Housing (PLH) properties. The original – Ulu Pandan Glades – lies around Ghim Moh Link and Commonwealth Avenue West in Queenstown, next to the Dover MRT Station. It is going to have 732 units consisting of 3- and four-room flats. Indicative costs start from $372,000 for a three-room flat $541,000 for a four-room flat, omitting awards.
Regarding the non-PLH properties, OrangeTee & Tie’s Sun projects the Jalan Rajah spot– though not near to an MRT station– to still draw in strong demand provided its site near Toa Payoh Central, which has enough amenities.
The remaining area remains in the Brickland area of Tengah estate, bounded by Brickland Roadway and Tengah Blvd. With 1,641 units across 12 residential blocks, it is the most extensive area under the February 2023 BTO exercise including the only one with five-room flats. Some other unit types are two-room flexi, 3- and four-room apartments. Costs 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 including $401,000 for a five-room flat.
Lentor Hills Residences condominium
Consultants expect Farrer Park Fields to see healthy request offered its distance to city as well as 2 MRT terminals– Farrer Park and Little India, the latter of which is an interchange for the Downtown and North-East Lines. “We can prepare for strong competitiveness for Farrer Park Fields, especially considering that BTO developments in the Kallang and Whampoa neighborhood tend to be very disputed when near an MRT station,” says Mohan Sandrasegeran, One Global Group’s senior expert for research and content development.
HDB has released 4,428 condos to sell under the February 2023 Build-To-Order (BTO) exercise. The condos are dispersed throughout 5 sites over four neighborhoods– Queenstown, Kallang and also Whampoa, Jurong West as well as Tengah. This is the initial BTO exercise since the Budget announcement, where steps targeted at assisting new buyers were revealed, including greater CPF real estate grants for those looking to purchase a resale flat.
Lee Sze Teck, Huttons Asia’s senior analysis executive, incorporates that surrounding facilities, including Farrer Park Primary School, the coming shopping center Piccadilly Galleria, Tekka Market as well as City Square Shopping mall, further improve the allure of the project. Lee adds that the many other PLH project in Queenstown, Ulu Pandan Glades, is close to another PLH plan, Dover Forest, launched last November. “The costs for apartments in Ulu Pandan Glades are similar to the earlier launch.”
Sun adds that some newbie purchasers may hang around up until the August BTO exercise, which is likely when the government will allow new families to receive an added ballot for their BTO applications.
