HDB launches two new BTO projects in Sengkang and Jurong West

The Housing and Development Board (HDB) launched two new Build-To-Order (BTO) projects on Friday.

Fernvale Palms in Sengkang and Boon Lay Meadow in Jurong West offer a total of 1,200 standard flats.

They comprise 240 units of 2-room, 396 units of 3-room, 512 units of 4-room and 52 units of 5-room flats.

These 1,200 new BTO flats form part of the 5,000 new flat supply which National Development Minister Mah Bow Tan announced on 1 October.

495 units will be available at Fernvale Palms, which is located near two Light Rail Transit (LRT) stations.

Selling prices for the Sengkang flats range from $129,000 to $163,000 for a 3-room flat, and $214,000 to $262,000 for a 4-room unit.

A 5-room flat will cost between $282,000 and $340,000.

Home buyers can also choose from another 705 units at Boon Lay Meadow which is situated within the established Jurong West estate.

Conveniently located along Jurong West Avenue 2, Boon Lay Meadow is served by two MRT stations, Boon Lay and Lakeside.

Prices for the flats at Boon Lay Meadow range from $86,000 to $103,000 for a 2-room flat and $138,000 to $173,000 for a 3-room unit.

A 4-room flat is priced between $223,000 and $266,000.

According to HDB, based on the income of flat applicants in the first half of this year, most households will not need to use cash to meet their monthly mortgage payments.

The housing board expects that first-time buyers will need to use between 18% and 24% of their monthly household income to meet their monthly loan commitments for these two projects.

Applications for the flats can be submitted online from Friday to 29 October.

Flat buyers can look forward to more BTO launches over the next two months.

In November and December, HDB will launch six more BTO projects with 4,000 flats. These projects will be located in towns such as Punggol, Bukit Panjang, Sembawang and Dawson.

Source : Channel NewsAsia – 16 Oct 2009

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