Farrer Park Fields which has 1,274 two-room flexi, three-room and four-room flats on a site between Little India and Farrer Park MRT stations. PHOTO: HDB
Ulu Pandan Glades in Queenstown is situated in the eastern half of Dover Forest and is near Dover MRT station. PHOTO: HDB
Ulu Pandan Glades is the second of three BTO projects to be launched in the eastern half of Dover Forest. PHOTO: HDB
SINGAPORE – The Housing Board (HDB) launched 4,428 Build-To-Order (BTO) flats for sale on Tuesday, including two projects under the prime location public housing (PLH) model in Dover Forest and Farrer Park.
These two projects – one in the mature estate of Queenstown and the other in the mature estate of Kallang/Whampoa – come with stricter buying and selling conditions, including a 6 per cent subsidy clawback upon their sale.
There are three other projects in the first sales exercise of the year – another in Kallang/Whampoa that does not come under the PLH model, and in the non-mature estates of Jurong West and Tengah.
The five projects have a median waiting time of about 4.4 years. HDB said all four-room flats offered in the two non-mature estates are below $400,000, before grants.
A total of 732 three-room and four-room units are on offer in Ulu Pandan Glades in Queenstown. It is situated in the eastern half of Dover Forest and is near Dover MRT station.
Prices range from $372,000 to $498,000 – without grants – for a three-room unit, and from $541,000 to $711,000 for a four-room one, making these flats the most expensive in this launch. Buyers will also have to wait the longest for these homes, as they will take about 68 months – or nearly six years – to be completed.
Ulu Pandan Glades is the second of three BTO projects to be launched in the eastern half of Dover Forest.
The first, Ulu Pandan Banks, also came under the PLH model in the November 2022 sales exercise. This BTO project is nearer to the MRT station than Ulu Pandan Glades is.
Demand was muted, with most first-time applicants likely to have a chance to select a unit. Prices ranged from $362,000 to $504,000 for a three-room flat, and from $546,000 to $725,000 for a four-room unit.
The second PLH project in the current sales exercise is Farrer Park Fields, which has 1,274 two-room flexi, three-room and four-room flats on a site between Little India and Farrer Park MRT stations.
Bound by Race Course, Hampshire and Farrer Park roads, the BTO project sits within a 10ha site – about the size of 19 football fields – which is planned to house about 1,600 new flats in total.
About 20 per cent of the site will be set aside as open spaces for sports and recreational uses, including a 1.2ha central green space comprising a field and a park.
Prices for this project range from $356,000 to $449,000 for a three-room flat, and from $484,000 to $631,000 for a four-room one. Buyers will have to wait for about 53 months – almost 4½ years.
The other BTO project in Kallang/Whampoa is Rajah Summit, which offers 510 three-room and four-room flats on a site in Jalan Rajah next to Kallang River.
Rajah Summit offers 510 three-room and four-room flats on a site in Jalan Rajah next to Kallang River. PHOTO: HDB
Prices range from $326,000 to $443,000 for a three-room flat, and from $459,000 to $631,000 for a four-room one. The waiting time is 58 months, or slightly under five years.
Flat owners in the two PLH projects will have to pay 6 per cent of the resale price or valuation, whichever is higher, to HDB when they sell their homes on the open market for the first time. The clawback applies to the first resale transaction and not to subsequent ones.
Owners will also be bound by a 10-year minimum occupation period (MOP) before they can sell. Standard BTO flats come with a five-year MOP and do not have a subsidy clawback clause.
Owners are also not allowed to rent out their whole units, even after the MOP is over.
For the BTO projects in Tengah and Jurong West, at least 95 per cent of the four-room and larger flats, and at least 85 per cent of the three-room ones, are set aside for first-time applicant families. Buyers will have to wait for just under four years.
In Tengah, 1,641 two-room flexi, three-room, four-room and five-room flats are on offer at Brickland Weave, on a site in Brickland Road near Choa Chu Kang town.
Prices range from $291,000 to $375,000 for a four-room flat, and from $401,000 to $503,000 for a five-room one.
In Tengah, 1,641 two-room flexi, three-room, four-room and five-room flats are on offer at Brickland Weave. PHOTO: HDB
In Jurong West, 271 three-room and four-room flats are on offer at Jurong West Crystal, near Jurong West Sports Centre.
These flats are the most affordable in this launch, with prices from $187,000 to $249,000 for a three-room flat, and from $288,000 to $372,000 for a four-room one.
In Jurong West, 271 three-room and four-room flats are on offer at Jurong West Crystal, on a site near Jurong West Sports Centre. PHOTO: HDB
Applications close at 11.59pm on March 6 on the HDB flat portal. Flats will be allocated through balloting.
In May 2023, about 5,400 BTO flats in towns such as Tengah, Bedok, Kallang/Whampoa and Serangoon will be launched.
At the August launch, HDB will offer between 5,200 and 6,200 flats in Choa Chu Kang, Tengah, Bukit Merah, Kallang/Whampoa and Queenstown.
HDB said it is monitoring demand closely and is prepared to launch up to 100,000 flats from 2021 to 2025.
Property analysts said the two PLH projects are likely to be most in-demand among home seekers due to their proximity to major transport nodes and the city centre.
OrangeTee & Tie senior vice-president of research and analytics Christine Sun said some home seekers who were initially planning to go for BTO flats may now consider purchasing HDB resale flats, given the increased CPF Housing Grant announced during Budget 2023.
This would divert some demand from the BTO market and ease application rates, she added.
Huttons Asia senior director of research Lee Sze Teck said Tengah’s Brickland Weave may see some interest this round, as some blocks in the project may fall within 1km of Anglo-Chinese School (ACS) Primary when it shifts to Tengah in 2030.
“But, nevertheless, there are two parcels of land zoned for education use at the doorstep of Brickland Weave. The downside of this BTO is the lack of an MRT station and retail amenities within walking distance,” he noted.
“Source:[HDB offers 4,428 BTO flats; projects in Dover Forest, Farrer Park under prime housing model] © Singapore Press Holdings Limited. Permission required for reproduction”
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