February 2023 BTO exercise sees 4,428 flats launched for sale

HDB has introduced 4,428 flats available for sale under the February 2023 Build-To-Order (BTO) exercise. The condos are dispersed across five locations over 4 towns– Queenstown, Kallang and also Whampoa, Jurong West as well as Tengah. This is the initial BTO exercise considering that the Funds announcement, where procedures targeted at assisting first-time property buyers were introduced, consisting of greater CPF housing awards for those aiming to buy a secondhand flat.

Among the lasting 3 BTO locations, one more remains in Kallang, Whampoa, around Jalan Rajah. It has 510 3- and also four-room apartments in 2 40-storey blocks. Prices start from $326,000 for a three-room flat and from $459,000 for a four-room flat.

Meanwhile, the Jurong West site is expected to take advantage of its venue near Pioneer MRT Terminal. Nonetheless, with only 271 apartments, obtaining a flat through the balloting procedure might be challenging, claims One Global Group’s Sandrasegeran.

Christine Sun, top vice ceo of research and analytics at OrangeTee & Tie, believes this may draw away some BTO need to the resale market. “Since extra aids are provided, we might assume a lot more suited buyers to purchase preferred locations such as developed estates, or they might purchase somewhat larger apartments,” she states.

Lee Sze Teck, Huttons Asia’s chief research director, incorporates that bordering amenities, including Farrer Park Primary School, the forthcoming mall Piccadilly Galleria, Tekka Market and also City Square Shopping center, further enhance the appeal of the project. Lee includes that the other PLH property in Queenstown, Ulu Pandan Glades, is close to one more PLH plan, Dover Forest, launched last November. “The costs for apartments in Ulu Pandan Glades resemble the earlier release.”

Concerning the non-PLH undertakings, OrangeTee & Tie’s Sun projects the Jalan Rajah spot– though not alongside an MRT terminal– to still attract strong interest given its location near Toa Payoh Central, which has enough amenities.

The remaining site is in the Brickland district of Tengah estate, bounded by Brickland Road and Tengah Boulevard. With 1,641 units around 12 residential blocks, it is the biggest location under the February 2023 BTO exercise including the just one with five-room apartments. Other unit kinds are two-room flexi, 3- and four-room apartments. Rates 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.

In Jurong West, HDB is introducing 2 residential blocks of 18 storeys, which are going to house 271 units of 3- and four-room flats. The location lies along Jurong West Street 93. Costs begin with $187,000 for a three-room flat and from $288,000 for a four-room one.

Avenir Condo price

The second PLH property is in Kallang and Whampoa, on a site bounded by Race Course Road, Hampshire Roadway and Farrer Park Road. The development– Farrer Park Fields– will have 7 24-storey blocks housing 1,274 units of two-room flexi, three-room and 4– space apartments. Suggestive costs start from $185,000 for a two-room flexi flat, $356,000 for a three-room flat, and $484,000 for a four-room flat.

The site in Tengah might gather attraction adhering to the announcement of ACS Primary’s moving to Tengah in 2030. “This might cause even more candidates trying this set of flats, although we do not expect a big spike in numbers,” claims Sun.

Sun adds in that some new customers may wait up until the August BTO exercise, which is likely when the government will permit newbie family members to acquire an extra ballot for their BTO applications.

Specialists expect Farrer Park Fields to observe healthy interest given its proximity to town and 2 MRT terminals– Farrer Park along with Little India, the last of which is an interchange for the Downtown and North-East Lines. “We can anticipate solid rivalry for Farrer Park Fields, especially since BTO developments in the Kallang and also Whampoa vicinity tend to be very debated when near an MRT terminal,” states Mohan Sandrasegeran, One Global Group’s top analyst for research and content development.

Under the February 2023 BTO exercise, two of the 5 sites have been designated Prime Location Public Housing (PLH) projects. The very first – Ulu Pandan Glades – lies along Ghim Moh Link along with Commonwealth Avenue West in Queenstown, next to the Dover MRT Station. It will have 732 units making up 3- plus four-room condos. Indicative costs start from $372,000 for a three-room flat $541,000 for a four-room flat, excluding awards.

error: Content is protected !!