Two new build-to-order projects meant to allay housing shortage fears
THE Housing Board is offering 1,050 flats at two new build-to-order (BTO) projects, in yet another sortie into the market to allay fears of a public housing shortage.
It launched 450 BTO units in Boon Lay and 600 in Yishun. This brings the total number of new BTO flats offered to the public this year to 6,132.
The launches are in line with the HDB's plan to offer an islandwide spread of at least 12,000 new BTO flats - in areas such as Punggol, Woodlands and Bukit Panjang - by September this year.
Next on the horizon are 2,400 additional BTO flats in Punggol and Sengkang, as well as the first public housing parcel along the Punggol waterway, the HDB said yesterday. Last month, the HDB released 1,429 flats for sale in fast-developing Punggol.
The projects launched yesterday - Boon Lay Grove in Jurong West Avenue 2 and Floral Spring @ Yishun in Yishun Avenue 11 - will be priced below 'equivalent market prices', the HDB said.
Boon Lay Grove is served by facilities from the Boon Lay estate including a shopping centre, community centre, park and schools. Sited five minutes away from the Pan-Island Expressway, it offers 300 four-room and 150 five-room flats.
Floral Spring @ Yishun, which is near an HDB neighbourhood centre, parks and schools, offers 96 studio apartments, 264 four-room and 240 five-room units.
The HDB is setting aside 95 per cent of the four- and five-room flats for first-time home buyers.
Applications for the new units are now open and will close on May 19. Those eligible can apply for a housing grant of up to $40,000.
Source: Straits Times, 7 May 2010
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