The second Build-To-Order (BTO) exercise for 2022 has made landfall.
A total of 4,583 BTO flats were made available for sale by the Housing & Development Board (HDB) on Friday, located in Jurong West, Yishun, Toa Payoh, Bukit Merah, and Queenstown.
For the latter two, they are under the Prime Location Public Housing Model (PLH Model).
In addition, another 1,952 flats are on offer in this year’s first Sales of Balances (SBF) scheme, which is essentially a pool of unsold flats from past BTO launches or remaining flats from the Selective En-bloc Redevelopment Scheme (SERS).
Therefore, a total of 6,535 new flats are on sale.
Compared to the BTO exercise in February, the waiting time for flats available will be significantly longer.
BTO Flats in Toa Payoh
The only mature estate project in this BTO exercise that is not under the PLH Model is in Toa Payoh, called Kim Keat Heights.
The project consists of two blocks ranging from 27 to 36 stories, with 385 two-room flexi, three-room and four-room flats. Both blocks will have some rental flats as well.
The site sits along Lorong 6 and Lorong 7 in Toa Payoh.
Buyers will have to wait for approximately 55 months – 4 and a half years – as the project is expected to be completed in the third quarter of 2027.
The prices for the flats are as follows:
- $162,000 and above for a two-room flexi
- $289,000 and above for a three-room flat
- $420,000 and above for a four-room flat
BTO Flats in Jurong West
For the non-mature estate in Jurong West, it offers the largest number of flats.
Lakeside View has a total of 1,016 two-room flexi, three-room, four-room and five-room flats across seven blocks that are 11- to 18-stories tall.
The project is located along Kang Chin and Yuan Ching Roads. It is within distance to both Jurong Lake Gardens and Lakeside station.
The construction for Lakeside View is slated for completion by the fourth quarter of 2026.
The waiting period is around 46 months, which is just under four years.
The prices for the available flats are as follows:
- $107,000 and above for two-room flexi (Type 1)
- $133,000 and above for two-room flexi (Type 2)
- $215,000 and above for a three-room flat
- $320,000 and above for a four-room flat
- $412,00 and above for a five-room flat
BTO Flats in Yishun
Besides the other two BTO projects in Yishun that were launched in the February exercise, Yishun Beacon is the third project in the same area.
It is bounded by Yishun Avenue 2 and Yishun Central 1.
It also has the shortest waiting time among the five projects at 39 months – just a little over three years – as it should be completed by the second quarter of 2026.
Buyers can choose from 646 two-room flexi, four-room, and five-room flats across five buildings.
The prices are as follows:
- $123,000 and above for a two-room flexi
- $328,000 and above for a four-room flat
- $485,000 and above for a five-room flat
BTO Flats in Bukit Merah (PLH Model)
In the mature estate of Bukit Merah, Bukit Merah Ridge offers 1,669 three-room and four-room flats across five buildings.
The project is situated along Henderson, Tiong Bahru, and Lower Delta Roads. The nearest MRT stations are Redhill and Tiong Bahru.
Without any grants, a three-room flat’s price ranges from $377,000 to $509,000, while a four-room flat can fetch anywhere from $540,000 to $737,000.
Buyers of this property will have to wait for 60 months, as the estimated date of completion is the first quarter of 2028.
BTO Flats in Queenstown
For the second BTO project under the PLH Model, Ghim Moh Ascent has a total of 867 three-room and four-room flats across four blocks.
This is the tallest project among the five, as there will be two 40-storey blocks, and another two blocks that are between eight- and 31-storey high.
It is located next to Buona Vista MRT station and is near Ghim Moh Road, Ghim Moh Close, and the Rail Corridor.
Its prices range from $369,000 to $481,000 for a three-room flat, and $511,000 to $691,000 for a four-room flat.
Similarly, buyers have to wait 60 months for these flats, as it’s predicted that this project will only be completed in the first quarter of 2028.
Prime Location Public Housing Model Conditions
For this particular BTO exercise, the stricter buying conditions under the PLH Model still apply.
There is a Minimum Occupancy Period (MOP) of 10 years before any resales can occur.
HDB will give out additional subsidies to lower the costs of the mature estate under the PLH Model, but there will be a 6% clawback clause for the first buyer upon resale.
Even after the PLH Model flats are resold, they can never be rented out in its entirety; the whole point of flats under the PLH Model is to encourage genuine occupancy by the residents.
20% of the flats will be reserved for first-timer families, while 2% will be set aside for second-timer families under the HDB’s Married Child Priority scheme.
The scheme also gives priority to applicants whose children or parents live in the same area.
For anyone who’s familiar with the details of said schemes, you’ve probably noticed that the quota has been by one-third.
According to HDB’s public statement, it is to provide more opportunities to Singaporeans who don’t have any family living in that area.
Other Important Details
Applications for these flats will close on 2 June, at 11:59pm on the HDB portal.
The flats will be allocated through balloting, as per usual.
For families or individuals who are eager to acquire their new homes earlier, HDB recommends the non-mature estates as they have a shorter waiting time.
As for the 1,952 units offered under the SBF scheme, the estates are spread across Bishan, Clementi, Hougang and Tengah.
Roughly 34% have been completed, while the others are in the midst of construction.
In August, another 4,900 BTO flats in areas such as Ang Mo Kio, Choa Chu Kang, JurongEast, Tampines and Woodlands will be launched.
Come November, 9,500 BTO flats will be offered in places like Bukit Batok, Kallang Whampoa, Queenstown, and Yishun.
The exact location and number of flats at the aforesaid sites will be released nearer to the launch date.
Featured Image: Housing & Development Board
