February 2023 BTO exercise sees 4,428 flats launched for sale
The area in Tengah may amass interest following the announcement of ACS Primary’s relocation to Tengah in 2030. “This might cause even more candidates vying for this batch of flats, although we do not expect a huge spike in numbers,” claims Sun.
In Jurong West, HDB is launching two home blocks of 18 floors, which are going to place 271 units of three- and four-room condos. The site rises along Jurong West Street 93. Prices start from $187,000 for a three-room flat and also from $288,000 for a four-room one.
Under the February 2023 BTO exercise, 2 of the five areas have actually been designated Prime Location Public Housing (PLH) properties. The very first – Ulu Pandan Glades – stands along Ghim Moh Link and even Commonwealth Avenue West in Queenstown, near to the Dover MRT Station. It is going to have 732 units comprising 3- and four-room flats. Suggestive costs begin with $372,000 for a three-room apartment $541,000 for a four-room condo, leaving out awards.
Specialists assume Farrer Park Fields to see strong request offered its closeness to town and 2 MRT terminals– Farrer Park and Little India, the latter of which is an interchange for the Downtown and North-East Lines. “We can expect solid competitiveness for Farrer Park Fields, specifically since BTO projects in the Kallang and also Whampoa proximity often tend to be fiercely disputed when near an MRT terminal,” states Mohan Sandrasegeran, One Global Group’s superior analyst for research and content creation.
Lee Sze Teck, Huttons Asia’s senior analysis director, incorporates that bordering amenities, including Farrer Park Primary School, the forthcoming shopping mall Piccadilly Galleria, Tekka Market as well as City Square Shopping mall, better improve the allure of the property. Lee adds that the many other PLH project in Queenstown, Ulu Pandan Glades, is close to another PLH project, Dover Forest, launched last November. “The prices for apartments in Ulu Pandan Glades are similar to the earlier release.”
HDB has recently launched 4,428 condos available for sale under the February 2023 Build-To-Order (BTO) exercise. The condos are spread throughout 5 locations over 4 neighborhoods– Queenstown, Kallang and Whampoa, Jurong West as well as Tengah. This is the initial BTO exercise given that the Budget news, where measures targeted at assisting new buyers were revealed, consisting of higher CPF housing awards for those looking to purchase a resale flat.
The 2nd PLH property is in Kallang as well as Whampoa, on a location bounded by Race Course Road, Hampshire Roadway as well as Farrer Park Road. The project– Farrer Park Fields– are going to have seven 24-storey blocks real estate 1,274 units of two-room flexi, three-room and 4– room apartments. Suggestive rates start from $185,000 for a two-room flexi flat, $356,000 for a three-room flat, moreover $484,000 for a four-room flat.
Sun includes that some first-time buyers might wait up until the August BTO exercise, which is likely when the authorities will certainly permit first-time households to get an additional ballot for their BTO applications.
At the same time, the Jurong West location is anticipated to take advantage of its venue near Pioneer MRT Station. However, with just 271 apartments, obtaining a flat through the balloting procedure might be challenging, says One Global Group’s Sandrasegeran.
The last site is in the Brickland district of Tengah estate, bounded by Brickland Roadway and Tengah Boulevard. With 1,641 units around 12 residential blocks, it is the largest area under the February 2023 BTO exercise including the just one with five-room flats. Other unit kinds are two-room flexi, three- and four-room flats. Costs begin with $97,000 for a two-room flexi flat, from $190,000 for a three-room flat, $291,000 for a four-room flat and $401,000 for a five-room flat.
Christine Sun, top vice president of research and analytics at OrangeTee & Tie, believes this can draw away some BTO demand to the resale market. “Given that more assistances are provided, we might just expect a lot more qualified customers to purchase popular locations such as developed estates, or they might get a little larger apartments,” she states.
Among the lasting three BTO sites, one more remains in Kallang, Whampoa, along Jalan Rajah. It has 510 three- and also four-room flats in two 40-storey blocks. Costs start from $326,000 for a three-room flat and from $459,000 for a four-room flat.
Regarding the non-PLH projects, OrangeTee & Tie’s Sun expects the Jalan Rajah site– though not near to an MRT station– to still attract solid need given its location near Toa Payoh Central, which has enough services.