HDB launches more than 5,000 new flats in August sales exercise

HDB launches more than 5,000 new flats in August sales exercise

The Housing and Development Board (HDB) has launched 5,101 flats for sale under the August 2018 Build-to-Order (BTO) and Re-Offer of Balance Flats (ROF) exercise, it said in a press release on Tuesday (Aug 28).

The flats include 4,375 BTO units in Punggol and Yishun and another 726 ROF units across various towns and estates, HDB said.

BTO EXERCISE

The BTO flats on offer are spread across four projects in the non-mature towns of Punggol and Yishun.

This comprises 2,112 units in Punggol and 2,263 units in Yishun.

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

“With these grants, buyers of two-room Flexi, three-room, four-room and five-room flats could pay as little as S$4,000, S$103,000, S$188,000 and S$329,000 respectively,” HDB said.

The flats in Punggol are expected to be more popular than those in Yishun, mainly due to accessibility and potential sea view units, analysts said.

PropNex Realty CEO Ismail Gafoor said he expects subscriptions for the flats in Punggol to exceed the supply by three to four times.

“This is due to the winning formula of great location near the sea, connectivity, wide range of facilities and surrounding amenities,” Mr Ismail said.

ERA Realty Network’s key executive officer Eugene Lim agreed that the Punggol flats are likely to receive greater interest from buyers – particularly from young families – in spite of their higher selling price.

“The Punggol flats are expected to be the more popular among the two despite the slightly higher prices, as they are located near the upcoming Punggol Coast MRT station and the Punggol Digital District,” said Mr Lim.

“The Yishun flats are located slightly further away from the MRT station. However, the attractive price will be a draw for applicants; prices start from S$248,000 before grants for a four-room flat,” he added.

ROF EXERCISE

In addition to the BTO flats, HDB will also offer 726 unselected flats from the November 2017 Sale of Balance Flats (SBF) and February 2018 ROF exercises.

They comprise 67 units of two-room Flexi, 171 units of three-room, 294 units of four-room, 152 units of five-room, 33 units of 3Gen and nine units of executive flats across various towns and estates, said HDB.

“HDB will set aside at least 95 per cent of the flat supply for first-timer families and up to 5 per cent for second-timer families.”

It added that the elderly may apply if they meet the prevailing eligibility conditions to buy a two-room Flexi flat and that families will enjoy priority for flat selection.

HDB also announced on Tuesday that flat buyers taking an HDB loan can now choose to keep up to S$20,000 each in their CPF Ordinary Account (OA), instead of fully utilising the balance.

“This option will be available to flat buyers who have yet to collect the keys to their new flats, as well as resale applications received from today.”

NEXT SALES EXERCISE IN NOVEMBER

Applications for new flats launched in the August 2018 BTO and ROF exercise can be submitted online on the HDB InfoWEB from Aug 28 until Sep 3, HDB said.

The next BTO sales exercise will be in November, where HDB will offer about 3,800 flats in Sembawang, Sengkang, Tampines, Tengah and Yishun.

On Sunday, HDB announced that more than 2,000 flats located at a waterfront housing district in Punggol will be launched this month.

The flats are within the first two housing projects for Punggol Point District and are expected to be completed in 2023.

It was announced last month that about 4,300 new flats in Punggol and Yishun will be offered for sale in August.

HDB has said that it will launch 16,000 new flats for sale this year, down from its previous estimate of 17,000 flats.

Source: Channel NewsAsia – 28 Aug 2018

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