February 2023 BTO exercise sees 4,428 flats launched for sale
Under the February 2023 BTO exercise, 2 of the five sites have actually been marked Prime Location Public Housing (PLH) properties. The original – Ulu Pandan Glades – lies along Ghim Moh Link along with Commonwealth Avenue West in Queenstown, near the Dover MRT Station. It will have 732 units consisting of three- also four-room apartments. Suggestive costs begin with $372,000 for a three-room apartment $541,000 for a four-room flat, omitting subsidies.
Christine Sun, senior vice ceo of research and analytics at OrangeTee & Tie, believes this may draw away some BTO demand to the resell market. “Given that additional subsidies are given, we might expect extra qualified buyers to purchase prominent locations such as mature estates, or they might acquire somewhat larger apartments,” she states.
On the other hand, the Jurong West site is expected to take advantage of its site near Pioneer MRT Terminal. Nonetheless, with just 271 apartments, getting a flat with the balloting process might be tough, claims One Global Group’s Sandrasegeran.
In Jurong West, HDB is releasing two residential blocks of 18 floors, which will place 271 units of 3- and four-room condos. The site is located along Jurong West Street 93. Prices start from $187,000 for a three-room flat and from $288,000 for a four-room one.
Regarding the non-PLH projects, OrangeTee & Tie’s Sun anticipates the Jalan Rajah area– though not close to an MRT terminal– to still draw in solid demand offered its place near Toa Payoh Central, which has enough facilities.
The 2nd PLH property remains in Kallang and Whampoa, on a site bounded by Race Course Road, Hampshire Road and Farrer Park Road. The project– Farrer Park Fields– will have seven 24-storey blocks real estate 1,274 units of two-room flexi, three-room and 4– area apartments. Indicative rates start from $185,000 for a two-room flexi flat, $356,000 for a three-room flat, moreover $484,000 for a four-room flat.
Specialists anticipate Farrer Park Fields to find strong interest provided its distance to town and two MRT stations– Farrer Park together with Little India, the latter of which is an interchange for the Downtown and North-East Lines. “We can expect strong competitiveness for Farrer Park Fields, especially given that BTO properties in the Kallang and Whampoa neighborhood tend to be fiercely contested when near an MRT station,” claims Mohan Sandrasegeran, One Global Group’s top analyst for research and content creation.
Sun adds in that some newbie customers may hang around until the August BTO exercise, which is likely when the state will allow newbie families to obtain an additional ballot for their BTO applications.
Among the lasting 3 BTO sites, another is in Kallang, Whampoa, along Jalan Rajah. It has 510 3- as well as four-room flats in two 40-storey blocks. Rates start from $326,000 for a three-room flat and from $459,000 for a four-room flat.
HDB has recently launched 4,428 flats to sell under the February 2023 Build-To-Order (BTO) exercise. The condos are spread throughout 5 locations over four communities– Queenstown, Kallang and also Whampoa, Jurong West and Tengah. This is the initial BTO exercise considering that the Budget announcement, where steps targeted at aiding first-time property buyers were revealed, including greater CPF housing grants for those looking to buy a resale flat.
The final area is in the Brickland area of Tengah estate, bounded by Brickland Road and Tengah Boulevard. With 1,641 units throughout 12 residential blocks, it is the biggest location under the February 2023 BTO exercise and even the just one with five-room flats. Some other unit types are two-room flexi, three- and four-room apartments. 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.
Lee Sze Teck, Huttons Asia’s chief analysis director, incorporates that bordering amenities, including Farrer Park Primary School, the coming shopping center Piccadilly Galleria, Tekka Market and also City Square Mall, better boost the charm of the work. Lee includes that the other PLH property in Queenstown, Ulu Pandan Glades, is close to another PLH plan, Dover Forest, launched last November. “The prices for flats in Ulu Pandan Glades resemble the earlier release.”
The location in Tengah might amass attraction adhering to the statement of ACS Primary’s transfer to Tengah in 2030. “This might lead to even more candidates vying for this batch of flats, although we do not expect a big spike in numbers,” says Sun.
