1,016 new flats on offer in Bukit Panjang, Jurong West

TWO build-to-order (BTO) Housing Board (HDB) projects that will add 1,016 new flats to the market were launched yesterday. The launch means 9,844 flats have been released in seven months, exceeding the 9,000 units offered for the whole of last year.

The projects are Senja Gateway in Bukit Panjang and Corporation Tiara in Jurong West.

Senja Gateway at the junction of Kranji Expressway and Woodlands Road will have 741 standard flats, comprising 254 studios, 313 four-room flats and 174 five-roomers.

Studios of 35 sq m to 45 sq m will cost $67,000 to $95,000, four-room flats of 90 sq m will be from $242,000 to $306,000 while five-roomers of 110 sq m will go from $308,000 to $398,000.

Corporation Tiara in Jurong West, at the junction of Corporation Road and Yung Kuang Road, will have 275 premium flats, comprising 171 four-roomers and 104 five-roomers.

Four-roomers of between 90 sq m and 93 sq m will cost between $242,000 and $325,000 while five-room flats of 110 sq m to 113 sq m will cost between $304,000 and $389,000.

Under the BTO scheme, flats are built only when a certain level of demand for the project is met.

PropNex chief executive Mohamed Ismail expects this launch to be more than three times oversubscribed as demand is still strong due to the high cash-over-valuations (COV) asked for in the HDB resale market.

He added that the pattern of demand from past BTO launches showed that four- and five-room flats were often the most popular.

'I think demand will be sustained throughout this year and we might even see a record number of BTO flats being launched,' he said.

The HDB said that if demand from first-time buyers is sustained, it is prepared to offer up to 16,000 BTO flats this year. This is a significant supply as the total annual take-up of HDB flats in the last 10 years ranged from 7,000 in 2006 to 16,100 in 2000, with flats left unsold almost every year, the board said.

Buyers can expect about 1,400 flats to be launched in Yishun next month while upcoming projects include areas like Woodlands, Punggol and Sengkang.

The BTO stock will also be supplemented by an upcoming supply of 4,700 units under the design, build and sell scheme (DBSS) and executive condominium scheme such as a site launched for tender in Tampines Avenue 5 last month.

The HDB said it is prepared to launch more DBSS sites if demand keeps up.

Applications for the BTO flats launched yesterday can be made online at www.hdb.gov.sg until Aug 11.

Source: Straits Times, 30 Jul 2010

Premium BTO project in Punggol to be launched

The Housing and Development Board will launch a premium housing project in Punggol later this June under the Build-To-Order (BTO) system.

Sited along the Punggol Waterway, the project will offer waterfront living and boasts eco-friendly features.

In line with the project’s emphasis on energy conservation, there will be large courtyards and openings to promote natural ventilation and airflow to flats and common areas.

Solar panels will also be introduced to offset electrical consumption at the common areas.

The premium housing project targets a niche group of buyers who are prepared to pay more for its signature attributes – prime location, groundbreaking design with vantage views and eco-friendly features.

This was revealed by Senior Minister of State for National Development Grace Fu when she launched the Punggol, Remaking our Heartlands Exhibition at HDB Hub.

She said two other BTO projects will also be launched in Sengkang, providing choices for flat buyers with different budgets and preferences.

Source: Channel News Asia, 22 Jun 2010

Soaring demand for HDB's new flats

FRESH evidence has emerged of Singapore's red hot property market with the Housing Board's (HDB) latest launches attracting six applicants for every available flat.

A staggering 5,015 bids were received for 828 new flats in Sengkang and Sembawang by the application deadline of midnight on Monday.

The high level of interest outstrips that of recent years, when about four applications were typically received for each new flat, according to housing analysts.

Demand was particularly intense for five-roomers in Sengkang, where 1,341 applied for the 126 flats on offer - more than 10 applications for each flat.

This high level of interest follows January's launch of four-roomers at Limbang Green at Choa Chu Kang, which attracted 14 applications for every flat.

The blistering demand for the developments at Fernvale Ridge in Sengkang and Sembawang RiverLodge is being attributed to the escalating prices of resale flats, which set a fresh record in the last quarter of last year.
HDB resale flat prices have risen by some 40 per cent over the past three years. 'Demand has shifted from the resale market directly to HDB's new flat queue, as many first-time buyers are likely to have been priced out of the resale flat market,' said Dennis Wee Properties director Chris Koh.

PropNex chief executive Mohamed Ismail was not surprised by the high level of demand given that new flats were priced about 30 per cent lower than resale flats.

'Couples who do not need flats so urgently will definitely join the queue,' he noted.

HDB launched the Sengkang and Sembawang projects under its build-to-order (BTO) scheme, which builds only when a certain demand is reached and has a typical waiting time of three years. Combined, the projects offer 266 three-room, 436 four-room and 126 five-room units.

Fernvale Ridge's 216 four-room flats attracted 1,671 applications, while its 180 three-roomers received 491 bids.

At Sembawang RiverLodge, the 220 four-room flats pulled 1,234 applications, while the 86 three-roomers drew 278.

Another 126 two-room flats in Sembawang RiverLodge will not be offered for sale, but set aside for lower-income families at a later date, said HDB.

Mr Ismail said he expects the demand for new flats to remain high given that resale flat prices are likely to stay robust at least in the short-term.

But Mr Koh suggested that demand for BTO projects might be less than it seems if flat applicants do not take-up flats when they are finally offered to them.

'Some buyers who join the queue might be afraid to lose out, but are not that serious about buying,' he said.
HDB has offered 3,653 flats this quarter, with a further 1,200 BTO units to be launched in Punggol next month.


Source, Straits Times 31 March 2010

HDB offers 828 new BTO flats

Projects in Sengkang and Sembawang may see big demand

THE Housing and Development Board (HDB) is offering 828 flats in Sengkang and Sembawang through two new build-to-order (BTO) projects.

These are the first BTO projects to be launched after the government adjusted some public housing policies early this month.

HDB is gauging interest in the 522-unit Fernvale Ridge in Sengkang, and the 306-unit Sembawang RiverLodge. Fernvale Ridge, bounded by Sengkang West Way and Fernvale Link, will be near the Fernvale, Layar and Thanggam LRT stations. There will be 180 three-room flats, 216 four-room flats and 126 five-room flats.

The selling price for a five-roomer will range from $281,000 to $352,000. According to HDB, the price of a comparable five-room resale flat in the vicinity is $415,000 to $461,000.

The other BTO project, Sembawang RiverLodge, is at Sembawang Drive. The nearest MRT station is at Sembawang, where Sun Plaza is also located.

Of the 306 units available, 86 will be three-roomers and 220 will be four-roomers.

HDB added that the project is designed to house another 126 two-room flats, but it will set these aside ‘to meet the housing needs of lower income families at a later date’.

A four-room flat at Sembawang RiverLodge will cost $212,000 to $268,000. The price of a comparable resale four-roomer nearby is $275,000 to $350,000.

PropNex CEO Mohamed Ismail expects both BTO projects to be popular and they could each be oversubscribed by at least eight times. One reason is because the sites will have three, four, or five-room flats – not studio apartments – which are suitable for young couples starting a family, he said.

Sembawang RiverLodge could stand out, he said. This is because residents will get ‘a taste of waterfront living’ with Sungei Sembawang nearby and the estate will have amenities such as a supermarket.

Applications for the new flats will close on March 29. With these two projects, HDB would have offered 3,653 new BTO flats in the first three months of the year. It plans to release 1,200 BTO flats in Punggol next month.

First-timer households comprising a Singapore citizen and permanent resident applying for flats will have to pay a $10,000 premium on top of HDB’s selling price. The $10,000 will go back to them if the PR family member becomes a citizen, or if the couple has a child who is a citizen.

Source: Business Times, 17 Mar 2010

828 new flats for Sengkang, Sembawang

THE Housing Board has launched two build-to-order (BTO) projects that will deliver 828 new flats to the market.

The developments - Fernvale Ridge in Sengkang and Sembawang RiverLodge in Sembawang - comprise 266 three-room, 436 four-room and 126 five-room units.

Another 126 two-room flats in Sembawang RiverLodge will not be offered for sale. They will be set aside for lower-income families at a later date, said the HDB yesterday.

This is the first time the HDB has set aside flats. It said that two-room flats generally received fewer applications in BTO launches but they were central in helping families in financial difficulties get suitable housing.

The low-income group was placed in the spotlight recently during this month's Budget debate with several MPs asking whether this group had inadvertently been left out in the pursuit of growth and if substantial government support had been provided for them.

Yesterday's launch is part of a broader HDB plan to offer at least 12,000 new flats this year. So far 3,653 flats have been offered this quarter with a further 1,200 BTO units to be launched in Punggol next month. Future launches have been earmarked for estates such as Yishun and Woodlands. Construction on BTO projects is triggered once a certain level of sales has been achieved.

Sembawang RiverLodge comprises 86 three-roomers and 220 four-roomers and will be built along Sembawang Drive. Fernvale Ridge, bounded by Sengkang West Way and Fernvale Link, will offer 180 three-room units, 216 four-roomers and 126 five-room units.

Three-roomers of 65 sq m at Sembawang RiverLodge are priced between $128,000 and $166,000 while those at Fernvale Ridge will go for between $128,000 and $171,000.

Four-room flats of 90 sq m in Sembawang RiverLodge are going for between $212,000 and $268,000 while those at Fernvale Ridge will cost $216,000 to $271,000.

Five-roomers of between 110 sq m and 113 sq m in Fernvale Ridge in Sengkang will sell for $281,000 to $352,000.

PropNex chief executive Mohamed Ismail said the developments will be huge hits as the number of units offered this time around is only about half the 1,534 units offered during last month's BTO, even as buyer demand remains strong.

He expects both projects to be oversubscribed by at least eight times given their 'very attractive pricing' and close proximity to schools, a key selling point for young couples with children on the horizon.

'Recent BTOs have offered studio apartments which do not make much sense to a young couple who are looking to start a family, as they will be locked into the BTO flat for a further five years after collecting their keys,' he added.

The HDB said that this year's BTO supply will be supplemented by flats under the Design, Build and Sell Scheme (DBSS) as well as executive condominiums (ECs) to cater for higher-income buyers.

Besides the two EC sites offered for sale in January, the HDB will tender out another land parcel in Yishun Avenue 11 under the DBSS for a potential yield of 700 flats by next month. Applications for the new BTO flats can be made online at www.hdb.gov.sg until March 29.

Source, Straits Times 17 March 2010

High demand for new HDB flats

BUYERS have rushed to the HDB's first build-to-order (BTO) projects launched this year, with one category of flats attracting 14 times more applications than homes available.


The intense interest in the developments at Choa Chu Kang and Hougang mirrors the flood of applications for two similar BTO projects at Dawson in Queenstown just before the new year.

The new estates - both in well-established areas - had attracted a total of 6,848 applications for 1,291 units ranging from studios to four-room units by 5pm yesterday.

Mr Eugene Lim, associate director of ERA Asia-Pacific, told The Straits Times: 'For a long time, HDB programmes have been in areas like Punggol and Sengkang. It is now offering more choices for people.

It is a welcome move as far as buyers are concerned.'

Limbang Green estate at Choa Chu Kang was the star attraction when applications opened on Jan 5.
Its 188 four-room flats have pulled in 2,681 applications - a take-up rate of about 14 times - while the 128 three-room units had reaped 402 bidders.


Things were a little less intense at Buangkok Vale in Hougang, but home seekers were still out in force with 2,608 hopefuls chasing 458 four-room units.


The estate also attracted 480 applicants keen to buy from a pool of 113 three-room apartments.
Studios had their fans as well, with 521 applications for the 276 units offered in Limbang Green, although two-room flats, while over-subscribed, received a relatively modest response.


Choa Chu Kang prices range from $64,000 for a studio unit to $278,000 for a four-room flat, while Hougang's two-room units start at $88,000 to about $288,000 for a four-room apartment.
The final tally of applications will be posted on the HDB website at 2pm today.


Mr Lim pointed out that both projects are in areas with good infrastructure and older estates, but price is also a factor.


BTO flats - only built once a certain sales level has been achieved - are becoming more attractive given the rising prices of resale HDB units.


'Using the Choa Chu Kang flats as a guide, selling price is $100,000 cheaper than what you can get from the resale market,' Mr Lim said.


The new launches are likely to be the first of many, with the HDB stating earlier this month that it will offer 12,000 new BTO flats this year if demand stays robust.


Ngee Ann Polytechnic real estate lecturer Nicholas Mak said the Government might have to provide more large- sized flats to meet demand.


He said: 'The HDB might have to run this kind of exercise every month and after every quarter or so to see if the 12,000 figure is enough for this year.'


Supply can reduce when over-subscription falls, he said.

While thousands of buyers were making a beeline for BTO flats, some tried a different tack after finding the overwhelming number of applicants daunting.


Marketing representative Wan'er Chong, 26, and her partner opted for a Bishan apartment in the HDB's design, build and sell scheme instead.

'We were allowed to choose our unit, and there was no balloting. It was possible to buy the flat on the same day, no wait required,' she said.

Another advantage was that the flat would come fully furnished, eliminating renovation costs, she added.


Source, Straits Times 19 January 2010

New BTO flats to come after Dawson rush

THE scramble for the Dawson HDB build-to-order (BTO) flats came to an end yesterday with some flats more than 11 times subscribed.

The two-week application window resulted in a flood of applications for five-room flats, which attracted 2,090 applications for the 176 available. There were 11.9 applications for each available unit.

But home seekers need not be discouraged by the daunting odds as the Housing Board yesterday announced that it will offer a fresh batch of BTO flats for sale next Tuesday.

Buyers can look forward to another 1,300 BTO flats in Choa Chu Kang and Hougang, the board said in a statement yesterday. 'HDB will continue to launch more BTO projects in 2010 if there is sustained demand for new flats.'

At Dawson, 6,015 applications were received for the 1,102 available four-room flats and 806 applications for the 270 three-room flats.

Demand for studio apartments outstripped supply by a factor of 10.7, with 429 applications for just 40 units.

Buyer interest was slightly less intense for paired units under the multi-generational scheme, with 379 applications for the 65 such flats available.

First-time buyers, who formed 70 per cent of all applicants, will be given priority. Ninety-five per cent of the flats, including those offered in Bukit Panjang and Sembawang, will be set aside for them.

Systems analyst Victoria Chew, 26, who applied for a four-room paired unit in Dawson, said she will look for a resale flat while waiting for her queue position to be announced in February.

Ms May Lee, 23, who also applied for a paired flat, was similarly unfazed by the high number of applications.

'There's no point worrying. When another good BTO project comes along, we can always apply again,' she said.

Ngee Ann Polytechnic real estate lecturer Nicholas Mak said that the centrally located Dawson flats are likely to make good long-term investments as they can be rented out once owners have adequately satisfied HDB's rental criteria.

Elsewhere, this month's two other BTO projects - Segar Grove in Bukit Panjang and Montreal Dale in Sembawang - attracted widespread interest as well.

There were 1,116 applications for Segar Grove's 196 four-room flats, while Montreal Dale's 152 four-room flats drew 1,085 applications. The two-room flats were, on average, 52 per cent subscribed.

The final update on number of applications received will be posted on www.hdb.gov.sg at 2pm today.


Source, Straits Times 29 Decemeber 2009