Punggol home for two new BTO projects

Two new Built-To-Order (BTO) projects have been launched in Punggol Town making 1,429 government flats available.

In addition, the Housing and Development Board said it will launch another 7,400 BTO flats from May to September 2010, bringing the total number of flats launched in the first three quarters of 2010 to about 12,000.

It said the upcoming projects will have a good geographical spread, covering areas such as Bukit Panjang, Jurong West, Sengkang, Yishun and Woodlands.

As for the latest BTO projects, Punggol Emerald and Punggol Waves, these feature Studio Apartments along with three, four, and five-room flats catering mainly to first-timer home owners.

The Housing and Development Board said in a news release Tuesday that Punggol Emerald, located at the junction of Punggol Way and Punggol Central, will have 856 standard flats.

This will comprise 188 units of Studio Apartments, 96 units of 3-room, 350 units of 4-room and 222 units of 5-room flats, with a mini-mart and shop included as part of the development.

The Studio Apartments at Punggol Emerald will be priced from $73,000 while the 3-5 room flats will be priced from $166,000 for a 3-room unit to $333,000 for a 5-room flat.

As for Punggol Waves, it will be located south of the future Punggol Town Centre and along Punggol Walk.

The development will feature 573 units, comprising 105 units of 3-room,
259 units of 4-room and 209 units of 5-room flats, along with a Student Care Centre.

The 3-room flats will be priced from $150,000 while a 5-room unit will cost from $330,000.

The HDB said that to keep public housing affordable for first-time homebuyers, new flats are priced below equivalent market prices based on the prices of resale flats in the area, as well as factors such as location, project design and prevailing market conditions.

The purchase of the Punggol BTO flats will come under the new conditions set in March 2010, to reinforce the privileges of citizenship.

So first-time buyers in a household comprising a Singapore Citizen and a Singapore Permanent Resident will have to pay a $10,000 premium on top of HDB’s selling price.

This covers the $10,000 housing subsidy that’s withheld for the of a new HDB flat or a resale flat with the CPF Housing Grant, and will be restored should the Singapore Permanent Resident family member take up citizenship or if the couple has a Singapore Citizen child while still in ownership of that flat.

Source : Channel NewsAsia – 20 Apr 2010

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