February 2023 BTO exercise sees 4,428 flats launched for sale
The area in Tengah may garner interest complying with the statement of ACS Primary’s relocation to Tengah in 2030. “This may lead to even more applicants vying for this batch of apartments, although we do not expect a large spike in numbers,” states Sun.
Among the remaining 3 BTO areas, one more remains in Kallang, Whampoa, along Jalan Rajah. It has 510 three- as well as four-room flats in 2 40-storey blocks. Rates begin with $326,000 for a three-room flat and from $459,000 for a four-room flat.
Sun adds that some first-time buyers may stand by up until the August BTO exercise, which is most likely when the authorities will enable new families to get an added ballot for their BTO applications.
The final site remains in the Brickland area of Tengah estate, bounded by Brickland Road and Tengah Blvd. With 1,641 units throughout 12 residential blocks, it is the largest location under the February 2023 BTO exercise including the just one with five-room flats. Some other unit types are two-room flexi, three- and four-room flats. Prices 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.
Advisors assume Farrer Park Fields to find healthy demand given its distance to community and also 2 MRT terminals– Farrer Park along with Little India, the last of which is an interchange for the Downtown and North-East Lines. “We can expect strong competitiveness for Farrer Park Fields, especially since BTO developments in the Kallang as well as Whampoa vicinity often tend to be increasingly contested when near an MRT terminal,” states Mohan Sandrasegeran, One Global Group’s superior expert for research and content creation.
The 2nd PLH property is in Kallang and Whampoa, on a site bounded by Race Course Road, Hampshire Road as well as Farrer Park Road. The development– Farrer Park Fields– are going to have seven 24-storey blocks housing 1,274 units of two-room flexi, three-room as well as 4– space apartments. Suggestive rates begin with $185,000 for a two-room flexi flat, $356,000 for a three-room flat, and $484,000 for a four-room flat.
In Jurong West, HDB is releasing 2 non commercial blocks of 18 storeys, which will place 271 units of three- and four-room condos. The area rises along Jurong West Street 93. Rates begin with $187,000 for a three-room flat as well as from $288,000 for a four-room one.
Regarding the non-PLH projects, OrangeTee & Tie’s Sun projects the Jalan Rajah area– though not near to an MRT terminal– to still bring in strong demand given its place near Toa Payoh Central, which has ample facilities.
Christine Sun, senior vice ceo of research and analytics at OrangeTee & Tie, believes this might divert some BTO demand to the resale market. “Since more aids are given, we might just anticipate a lot more qualified buyers to purchase preferred locations such as mature estates, or they may purchase a little bigger flats,” she says.
Under the February 2023 BTO exercise, 2 of the 5 sites have been assigned Prime Location Public Housing (PLH) undertakings. The very first – Ulu Pandan Glades – lies along Ghim Moh Link and even Commonwealth Avenue West in Queenstown, next to the Dover MRT Station. It will have 732 units making up three- also four-room flats. Indicative costs start from $372,000 for a three-room apartment $541,000 for a four-room flat, excluding awards.
HDB has released 4,428 flats available for sale under the February 2023 Build-To-Order (BTO) exercise. The flats are spread throughout 5 areas over four neighborhoods– Queenstown, Kallang and Whampoa, Jurong West and Tengah. This is the very first BTO exercise considering that the Funds announcement, where steps targeted at assisting newbie property buyers were revealed, including greater CPF housing assistances for those looking to get a resale flat.
On the other hand, the Jurong West site is anticipated to take advantage of its location near Pioneer MRT Terminal. Nevertheless, with only 271 flats, securing a flat via the balloting process may be difficult, states One Global Group’s Sandrasegeran.
Lee Sze Teck, Huttons Asia’s chief analysis executive, adds that bordering facilities, consisting of Farrer Park Primary School, the upcoming shopping center Piccadilly Galleria, Tekka Market as well as City Square Shopping center, further enhance the charm of the project. Lee adds that the other PLH venture in Queenstown, Ulu Pandan Glades, is close to one more PLH plan, Dover Forest, released last November. “The rates for apartments in Ulu Pandan Glades are similar to the earlier release.”
