HDB launches 1,527 BTO flats in Jurong West and Sengkang

HDB has launched two new Build-To-Order projects, Boon Lay Fields in Jurong West and Compassvale Ancilla in Sengkang. A total of 1,527 new flats are being offered.

Prices at Compassvale Ancilla range from S$77,000 for a studio apartment to S$444,000 for a five-room flat.

Flats at Boon Lay Fields sell for between S$168,000 for a three-room unit and S$391,000 for a five-room flat.

The application period for submission of applications will be reduced to one week.

HDB will inform applicants of their ballot results within three weeks of the launch.

Selection of flats will start from the fourth week onwards, instead of the ninth week previously.

HDB said the faster turnaround will enable applicants to know their queue number for the current launch, before deciding whether to apply for the next BTO launch.

Eligible first-timers applicants earning not more than S$5,000 per month can also apply for the Additional CPF Housing Grant (AHG) of up to S$40,000.

The AHG can be used to offset the initial down-payment.

First-time flat buyers are estimated to use 24 to 30 per cent of their monthly household income to meet their monthly loan payments for flats in Boon Lay Fields and Compassvale Ancilla.

HDB said it has ramped up its new flat supply significantly to meet the demand from first-timer households.

Four more BTO projects are planned for launch in April and six more in May.

In the first half of this year, HDB plans to offer up to 14,000 new flats under BTO.

For the whole of 2011, HDB can offer up to 22,000 new flats under BTO, if demand is sustained.

The BTO supply will be supplemented by the housing units under the Design, Build & Sell Scheme (DBSS) and the Executive Condominium (EC) Housing Scheme.

For 2011, land sites for 4,000 DBSS flats and 4,000 EC units are scheduled for sale.

Source : Channel NewsAsia – 24 Mar 2011

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