THE Housing & Development Board (HDB) has launched its first 2009 build-to-order (BTO) project at Woodlands.
Champions Court, at the junction of Champions Way and Woodlands Avenue 1, has 815 units,
comprising 224 studio apartments, 182 three-room, 224 four-room and 185 five-room flats.
About 50 per cent of the units are studio apartments and three-room flats, in line with the government's commitment to provide a greater supply of smaller dwellings this year, HDB said.
The studio apartments will have elderly-friendly features such as grab bars and non-slip flooring.
Three-room flats cost from $118,000 to $142,000, four-room flats from $194,000 to $227,000 and five-room flats from $247,000 to $296,000.
The units are being offered at less than equivalent market prices so they are affordable for first-time buyers, HDB said.
Eugene Lim, associate director for ERA Asia-Pacific, said: 'HDB seems to have deliberately priced the flats well below resale flats in the area.'
Likewise, PropNex chief executive Mohamed Ismail said that based on HDB's Q4 2008 figures, flats at Champions Court are priced 27 to 40 per cent lower than resale flats in the area.
The project is expected to be well received and could be about five times over-subscribed, Mr Ismail said.
Both analysts also reckon the location will be a draw.
'Woodlands is a mature estate,' said Mr Ismail. 'Besides being within walking distance of Woodlands Regional Centre and the MRT station, Champions Court is within 1km of a good number of schools. So I expect it to be quite popular.'
Source: Business Times, 27 Feb 2009