February 2023 BTO exercise sees 4,428 flats launched for sale

The last area remains in the Brickland district of Tengah estate, bounded by Brickland Roadway and Tengah Blvd. With 1,641 units around 12 non commercial blocks, it is the most extensive area under the February 2023 BTO exercise and even the only one with five-room flats. Some other unit types are two-room flexi, 3- and four-room flats. Costs start from $97,000 for a two-room flexi flat, from $190,000 for a three-room flat, $291,000 for a four-room flat including $401,000 for a five-room flat.

Consultants assume Farrer Park Fields to find healthy demand provided its closeness to town as well as two MRT terminals– Farrer Park along with Little India, the latter of which is an interchange for the Downtown and North-East Lines. “We can anticipate strong competition for Farrer Park Fields, especially since BTO projects in the Kallang and also Whampoa vicinity tend to be increasingly contested when near an MRT station,” says Mohan Sandrasegeran, One Global Group’s superior expert for research and content design.

Sun adds in that some newbie buyers might stand by up until the August BTO exercise, which is likely when the authorities will permit new families to obtain an additional ballot for their BTO applications.

Pertaining to the non-PLH projects, OrangeTee & Tie’s Sun expects the Jalan Rajah spot– though not close to an MRT station– to still bring in solid demand offered its site near Toa Payoh Central, which has enough features.

Under the February 2023 BTO exercise, 2 of the five sites have actually been marked Prime Location Public Housing (PLH) properties. The first – Ulu Pandan Glades – stands around Ghim Moh Link and Commonwealth Avenue West in Queenstown, near the Dover MRT Terminal. It will have 732 units making up three- plus four-room flats. Suggestive prices begin with $372,000 for a three-room apartment $541,000 for a four-room flat, leaving out grants.

Christine Sun, top vice ceo of research and analytics at OrangeTee & Tie, strongly believes this may lead away some BTO need to the resell market. “Since extra assistances are given, we may expect extra eligible purchasers to purchase well-known locations such as mature estates, or they may acquire slightly larger apartments,” she claims.

Among the remaining 3 BTO sites, an additional is in Kallang, Whampoa, along Jalan Rajah. It has 510 3- as well as four-room apartments in two 40-storey blocks. Rates start from $326,000 for a three-room flat and from $459,000 for a four-room flat.

The site in Tengah may gather attraction complying with the statement of ACS Primary’s relocation to Tengah in 2030. “This might cause even more applicants vying for this set of apartments, although we do not expect a large spike in numbers,” claims Sun.

HDB has released 4,428 flats to sell under the February 2023 Build-To-Order (BTO) exercise. The apartments are dispersed across five locations over 4 towns– Queenstown, Kallang and Whampoa, Jurong West and Tengah. This is the very first BTO exercise considering that the Funds news, where actions targeted at helping newbie homebuyers were announced, including higher CPF housing grants for those seeking to buy a resale flat.

In Jurong West, HDB is launching 2 residential blocks of 18 floors, which are going to place 271 units of 3- and also four-room apartments. The site is located along Jurong West Street 93. Prices start from $187,000 for a three-room flat as well as from $288,000 for a four-room one.

Sky Eden Bedok, Bedok Central

The 2nd PLH project is in Kallang and Whampoa, on a location bounded by Race Course Road, Hampshire Roadway and also Farrer Park Road. The property– Farrer Park Fields– will have 7 24-storey blocks real estate 1,274 units of two-room flexi, three-room as well as 4– room flats. Suggestive costs start from $185,000 for a two-room flexi flat, $356,000 for a three-room flat, and also $484,000 for a four-room flat.

At the same time, the Jurong West site is anticipated to take advantage of its location near Pioneer MRT Terminal. However, with only 271 flats, securing a flat with the balloting procedure may be tough, claims One Global Group’s Sandrasegeran.

Lee Sze Teck, Huttons Asia’s senior analysis executive, adds that surrounding amenities, including Farrer Park Primary School, the upcoming mall Piccadilly Galleria, Tekka Market as well as City Square Shopping mall, better enhance the appeal of the property. Lee adds that the other PLH project in Queenstown, Ulu Pandan Glades, is close to one more PLH project, Dover Forest, launched last November. “The rates for apartments in Ulu Pandan Glades resemble the earlier launch.”

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