February 2023 BTO exercise sees 4,428 flats launched for sale
In Jurong West, HDB is introducing 2 home blocks of 18 storeys, which are going to place 271 units of three- as well as four-room flats. The location lies along Jurong West Street 93. Prices start from $187,000 for a three-room flat as well as from $288,000 for a four-room one.
Under the February 2023 BTO exercise, two of the 5 locations have been designated Prime Location Public Housing (PLH) projects. The very first – Ulu Pandan Glades – is located along Ghim Moh Link along with Commonwealth Avenue West in Queenstown, next to the Dover MRT Station. It will have 732 units consisting of 3- and four-room apartments. Indicative rates begin with $372,000 for a three-room condo $541,000 for a four-room condo, excluding awards.
Sun adds that some newbie customers may hang around till the August BTO exercise, which is most likely when the government will allow first-time households to acquire an additional ballot for their BTO applications.
Meanwhile, the Jurong West site is expected to gain from its venue near Pioneer MRT Terminal. Nonetheless, with only 271 apartments, getting a flat via the balloting process might be difficult, claims One Global Group’s Sandrasegeran.
Advisors anticipate Farrer Park Fields to observe healthy request offered its closeness to community and two MRT stations– Farrer Park along with Little India, the latter of which is an interchange for the Downtown and North-East Lines. “We can anticipate strong competitiveness for Farrer Park Fields, especially given that BTO developments in the Kallang and also Whampoa neighborhood often tend to be increasingly debated when near an MRT terminal,” says Mohan Sandrasegeran, One Global Group’s superior analyst for research and content creation.
Amongst the remaining three BTO areas, one more resides in Kallang, Whampoa, around Jalan Rajah. It has 510 three- and also four-room flats in two 40-storey blocks. Costs begin with $326,000 for a three-room flat and from $459,000 for a four-room flat.
The remaining area remains in the Brickland region of Tengah estate, bounded by Brickland Roadway and Tengah Boulevard. With 1,641 units throughout 12 housing blocks, it is the most extensive area under the February 2023 BTO exercise and even the only one with five-room flats. Some other unit types are two-room flexi, 3- and four-room flats. Prices 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 including $401,000 for a five-room flat.
HDB has recently launched 4,428 condos available for sale under the February 2023 Build-To-Order (BTO) exercise. The flats are dispersed throughout five areas over four towns– Queenstown, Kallang and also Whampoa, Jurong West as well as Tengah. This is the initial BTO exercise since the Funds announcement, where steps targeted at aiding first-time buyers were introduced, including higher CPF housing grants for those seeking to purchase a secondhand flat.
The area in Tengah may garner attraction adhering to the statement of ACS Primary’s transfer to Tengah in 2030. “This may lead to more candidates trying this batch of apartments, although we do not expect a huge spike in numbers,” says Sun.
Pertaining to the non-PLH properties, OrangeTee & Tie’s Sun projects the Jalan Rajah spot– though not near to an MRT station– to still attract solid demand given its place near Toa Payoh Central, which has enough facilities.
Lee Sze Teck, Huttons Asia’s chief research director, includes that bordering facilities, including Farrer Park Primary School, the coming mall Piccadilly Galleria, Tekka Market and City Square Mall, additionally improve the allure of the property. Lee includes that the many other PLH project in Queenstown, Ulu Pandan Glades, is close to one more PLH plan, Dover Forest, launched last November. “The rates for flats in Ulu Pandan Glades are similar to the earlier release.”
The 2nd PLH venture is in Kallang as well as Whampoa, on a site bounded by Race Course Road, Hampshire Roadway as well as Farrer Park Road. The development– Farrer Park Fields– are going to have seven 24-storey blocks real estate 1,274 units of two-room flexi, three-room and also four– room apartments. Suggestive rates start from $185,000 for a two-room flexi flat, $356,000 for a three-room flat, and also $484,000 for a four-room flat.
Christine Sun, top vice president of research and analytics at OrangeTee & Tie, strongly believes this can divert some BTO demand to the resell market. “Considering that more assistances are given, we might just anticipate a lot more suited purchasers to purchase preferred locations such as older estates, or they may acquire somewhat larger apartments,” she states.
