Friday, May 7, 2010

HDB offers another 1,050 new BTO flats

THE Housing & Development Board (HDB) is offering 1,050 new flats in Jurong West and Yishun under the build-to-order (BTO) scheme.

This brings the number of new BTO units it has launched since January to 6,132, and more will be coming up.

Over at Jurong West Avenue 2, Boon Lay Grove will offer 450 flats. The estate is near Boon Lay Shopping Centre, and is some distance from the Boon Lay and Lakeside MRT stations.

There will be 300 four-room flats and 150 five-room flats. Home seekers can expect to pay $298,000 - $358,000 for a five roomer. According to HDB, the price of a comparable five-room resale flat in the area is $365,000 - $415,000.

The second BTO project at Yishun Avenue 11, Floral Spring @ Yishun, will have 600 flats comprising 96 studio apartments, 264 four-roomers and 240 five-roomers.

The estate is near a HDB neighbourhood centre and a park. It is some distance from the Khatib and Yishun MRT stations.

The price for a five-room flat at Floral Spring @ Yishun ranges from $289,000 - $332,000. A comparable five-room resale flat in the vicinity will go for $340,000 - $374,000.

Applications for the new flats will close on May 19. PropNex believes that demand for both projects will be strong, and each could be oversubscribed by at least six times.

This is despite the fact that both projects will be some distance from an MRT station. Residents may have to walk at least 10 to 15 minutes to reach the nearest one, PropNex pointed out.

HDB plans to launch at least 12,000 new BTO flats by September. It will be releasing some 2,400 BTO flats in Punggol and Sengkang next month, and some of these will be from the first public housing parcel along the Punggol waterway.

Source: Business Times, 7 May 2010

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