HDB to launch another BTO project in Punggol this month

The Housing and Development Board (HDB) said it will launch another build-to-order (BTO) project in Punggol this month.

This announcement came after its latest BTO project in Punggol received good response from flat buyers.

HDB said as at 2pm Wednesday, the Punggol Residences project saw 5,147 applications for the 769 units available. This translates to a subscription rate of 6.7 times.

HDB said the strong interest shows that homebuyers recognise the project offers good value for money.

A four-room flat at Punggol Residences costs between S$264,000 and S$322,000, while a five-room flat is priced at between S$344,000 and S$409,000.

Application for Punggol Residences, launched on July 30, closes at 12 midnight on August 12.

HDB said the continued launch of new BTO projects in Punggol will further contribute towards realising the vision of Punggol as a waterfront town.

To date, HDB has launched 2,800 flats under the BTO system.

Given the strong demand, HDB will step up its supply of flats under BTO to 8,000 units or more.

Source : Channel NewsAsia – 12 Aug 2009

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