February 2023 BTO exercise sees 4,428 flats launched for sale
The 2nd PLH venture is in Kallang as well as Whampoa, on an area bounded by Race Course Road, Hampshire Roadway as well as Farrer Park Road. The development– Farrer Park Fields– will have seven 24-storey blocks real estate 1,274 units of two-room flexi, three-room and four– space 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.
Under the February 2023 BTO exercise, 2 of the 5 locations have actually been marked Prime Location Public Housing (PLH) properties. The original – Ulu Pandan Glades – lies along Ghim Moh Link and Commonwealth Avenue West in Queenstown, close to the Dover MRT Station. It will have 732 units comprising three- plus four-room flats. Suggestive costs begin with $372,000 for a three-room flat $541,000 for a four-room flat, leaving out grants.
Concerning the non-PLH undertakings, OrangeTee & Tie’s Sun expects the Jalan Rajah area– though not near to an MRT station– to still bring in strong need provided its location near Toa Payoh Central, which has enough features.
At the same time, the Jurong West location is expected to take advantage of its site near Pioneer MRT Terminal. Nevertheless, with only 271 apartments, getting a flat through the balloting process might be difficult, says One Global Group’s Sandrasegeran.
HDB has recently released 4,428 condos available for sale under the February 2023 Build-To-Order (BTO) exercise. The apartments are spread across five areas over 4 communities– Queenstown, Kallang and Whampoa, Jurong West as well as Tengah. This is the first BTO exercise considering that the Budget statement, where steps targeted at helping first-time buyers were announced, consisting of higher CPF housing awards for those wanting to acquire a resale flat.
Lee Sze Teck, Huttons Asia’s chief research director, incorporates that bordering facilities, consisting of Farrer Park Primary School, the forthcoming shopping center Piccadilly Galleria, Tekka Market as well as City Square Mall, further increase the charm of the project. Lee adds that the other PLH property in Queenstown, Ulu Pandan Glades, is close to another PLH project, Dover Forest, launched last November. “The prices for flats in Ulu Pandan Glades are similar to the earlier release.”
Christine Sun, top vice president of research and analytics at OrangeTee & Tie, believes this can draw away some BTO demand to the resell market. “Since more aids are offered, we might expect more qualified customers to buy at popular locations such as mature estates, or they may acquire slightly bigger apartments,” she says.
Consultants anticipate Farrer Park Fields to see healthy request provided its closeness to city and 2 MRT terminals– Farrer Park together with Little India, the last of which is an interchange for the Downtown and North-East Lines. “We can expect strong competition for Farrer Park Fields, particularly since BTO properties in the Kallang and Whampoa neighborhood often tend to be increasingly contested when near an MRT terminal,” states Mohan Sandrasegeran, One Global Group’s top analyst for research and content design.
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 lies along Jurong West Street 93. Prices begin with $187,000 for a three-room flat and also from $288,000 for a four-room one.
Sun adds that some first-time purchasers may hang around until the August BTO exercise, which is likely when the government will enable newbie families to receive an additional ballot for their BTO applications.
The site in Tengah might amass interest following the statement of ACS Primary’s moving to Tengah in 2030. “This might result in more candidates vying for this set of apartments, although we do not anticipate a big spike in numbers,” says Sun.
The last site remains in the Brickland district of Tengah estate, bounded by Brickland Roadway and Tengah Blvd. With 1,641 units throughout 12 housing blocks, it is the largest location under the February 2023 BTO exercise including the just one with five-room apartments. Other unit kinds are two-room flexi, three- and four-room apartments. Costs begin with $97,000 for a two-room flexi flat, from $190,000 for a three-room flat, $291,000 for a four-room flat and $401,000 for a five-room flat.
Amongst the lasting 3 BTO sites, another is in Kallang, Whampoa, along Jalan Rajah. It has 510 three- as well as four-room flats in 2 40-storey blocks. Prices begin with $326,000 for a three-room flat and from $459,000 for a four-room flat.