This year's launches now top offers for whole of last year
THE Housing & Development Board (HDB) is launching two new Build-To-Order (BTO) projects with 1,016 units at Bukit Panjang and Jurong West.
This brings the number of new flats it has introduced under the scheme so far this year to 9,844 - exceeding the 9,000 for the whole of last year.
Senja Gateway, located at the junction of Kranji Expressway and Woodlands Road, will have 741 standard flats. They consist of 254 studio apartments, 313 four-roomers and 174 five-roomers.
The site is near the LRT station at Ten Mile Junction, and is surrounded by schools such as Pioneer Junior College.
A five-room flat at the estate will go for $308,000 to $398,000. According to HDB, comparable resale flats in the area cost $378,000 to $450,800.
The second project, Corporation Tiara, is at the junction of Corporation Road and Yung Kuang Road. Up for sale are 275 premium flats, comprising 171 four-roomers and 104 five-roomers.
The project will include another 190 studio apartments but HDB will put these up for sale later.
Corporation Tiara is some distance from the Lakeside and Boon Lay MRT stations. But it is near green lungs - Chinese Garden and Japanese Garden.
A five-room flat at the estate will cost $304,000 to $389,000. Prices of comparable resale flats in the vicinity range from $384,000 to $420,000.
HDB has ramped up the supply of new flats this year as prices of resale flats continue to climb - they rose 4.1 per cent in Q2 from Q1. Buyers also had to pay larger cash premiums.
The agency will be rolling out another 1,400 new flats in Yishun next month, and it plans to offer up to 16,000 BTO flats for the whole year.
HDB pointed out that the annual take-up of HDB flats ranged from 7,000 to 16,100 in the last 10 years. 'There were balance flats almost every year,' it added.
Source: Business Times, 30 Jul 2010