February 2023 BTO exercise sees 4,428 flats launched for sale
The location in Tengah might garner attraction following the announcement of ACS Primary’s relocation to Tengah in 2030. “This might lead to even more candidates trying this set of flats, although we do not anticipate a big spike in numbers,” claims Sun.
Christine Sun, top vice ceo of research and analytics at OrangeTee & Tie, believes this may lead away some BTO need to the resale market. “Given that extra aids are provided, we may assume extra eligible customers to purchase prominent locations such as developed estates, or they might get a little bigger condos,” she says.
Specialists expect Farrer Park Fields to see strong demand offered its closeness to town and 2 MRT terminals– Farrer Park and Little India, the last of which is an interchange for the Downtown and North-East Lines. “We can expect solid competition for Farrer Park Fields, specifically given that BTO projects in the Kallang as well as Whampoa vicinity have a tendency to be increasingly disputed when near an MRT terminal,” states Mohan Sandrasegeran, One Global Group’s superior expert for research and content development.
Sun includes that some first-time customers may hang around till the August BTO exercise, which is likely when the authorities will enable newbie family members to get an additional ballot for their BTO applications.
On the other hand, the Jurong West area is expected to gain from its venue near Pioneer MRT Station. Nevertheless, with only 271 apartments, obtaining a flat through the balloting process may be difficult, says One Global Group’s Sandrasegeran.
HDB has recently introduced 4,428 condos for sale under the February 2023 Build-To-Order (BTO) exercise. The flats are spread throughout 5 locations over 4 neighborhoods– Queenstown, Kallang and Whampoa, Jurong West and Tengah. This is the very first BTO exercise considering that the Budget plan announcement, where steps targeted at assisting new homebuyers were announced, consisting of greater CPF real estate grants for those aiming to acquire a resale flat.
The second PLH venture is in Kallang and Whampoa, on a location bounded by Race Course Road, Hampshire Roadway and 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 and also 4– area flats. Indicative rates 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.
In Jurong West, HDB is releasing two non commercial blocks of 18 storeys, which can house 271 units of 3- and also four-room apartments. The site rises along Jurong West Street 93. Rates start from $187,000 for a three-room flat and also from $288,000 for a four-room one.
The last location is in the Brickland district of Tengah estate, bounded by Brickland Road and Tengah Blvd. With 1,641 units throughout 12 residential blocks, it is the largest site under the February 2023 BTO exercise and even the just one with five-room apartments. Other unit types are two-room flexi, three- and four-room apartments. 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.
Among the remaining three BTO locations, an additional resides in Kallang, Whampoa, around Jalan Rajah. It has 510 3- and four-room flats in 2 40-storey blocks. Prices start from $326,000 for a three-room flat and from $459,000 for a four-room flat.
Under the February 2023 BTO exercise, two of the five areas have been designated Prime Location Public Housing (PLH) properties. The very first – Ulu Pandan Glades – lies along Ghim Moh Link along with Commonwealth Avenue West in Queenstown, next to the Dover MRT Terminal. It will have 732 units comprising 3- also four-room flats. Suggestive rates begin with $372,000 for a three-room flat $541,000 for a four-room flat, leaving out subsidies.
Regarding the non-PLH properties, OrangeTee & Tie’s Sun projects the Jalan Rajah site– though not close to an MRT terminal– to still bring in strong need given its site near Toa Payoh Central, which has adequate facilities.
Lee Sze Teck, Huttons Asia’s senior analysis executive, includes that surrounding amenities, consisting of Farrer Park Primary School, the upcoming shopping mall Piccadilly Galleria, Tekka Market and City Square Shopping center, additionally increase the appeal of the work. Lee adds that the many other PLH project in Queenstown, Ulu Pandan Glades, is close to one more PLH plan, Dover Forest, launched last November. “The prices for flats in Ulu Pandan Glades resemble the earlier launch.”