The Housing and Development Board of Singapore commenced the sale of 5,291 flats under the August 2017 Build-To-Order (BTO) and the inaugural Re-Offer of Balance Flats (ROF) exercises. According to the housing board, these flats comprise 3,897 BTO units and 1,394 ROF units spread across various towns and estates.
The BTO flats on sale are scattered in three projects in the non-mature towns of Bukit Batok and Sengkang.
ERA Realty Network Key Executive Officer Eugene Lim said the Bukit Batok flats are split between two projects: Skyvista@Bukit Batok and West Scape@Bukit Batok. The flats in these locations are expected to be popular given their proximity to the Jurong Lake District and Tengah New Town.
On the other hand, the Sengkang flats are served by Bakau and Rumbia LRT stations, which allow for easy intra-town travelling.
"Residents of flats facing the river will also enjoy a relatively unblocked view and waterfront living. Although the relatively close distance to Paya Lebar Airbase might be a deterrent, the imminent relocation of the airbase by around 2030 should serve as a form of consolation," Lim wrote in a note sent to the media.
PropNex Realty CEO Ismail Gafoor threw in his sentiment and said that the demand for the BTO flats in the said areas is seen to be strong.
In particular, he noted that home seekers will point their eyes to the flats at the Bukit Batok given its proximity to central and with the upcoming developments of the West Zone Master Plan.
He predicted that the subscription rate for the 4-room and 5-room flats in Bukit Batok can exceed 5 times the subscription due to the limited number of units launched.
Meanwhile, Ismail highlighted that the inaugural ROF exercises should see a promising turnout.
"With 71 percent of the units already completed, first timers who are in urgent need for a flat will be keen to take up these ready units.
Since HDB announced that it will set aside at least 95 percent of the flat supply for first-timer families, this presents more opportunities for first-time buyers to secure a unit," he explained.
He furthered, "We can expect strong demand for these ROF units which are available across 25 towns as these units are priced approximately 20 percent to 30 percent lower than resale flats at the same areas."
HDB noted that eligible first-time families can avail of up to $80,000 housing grants. These include the Additional Central Provident Fund (CPF) Housing Grant of up to $40,000 and the Special CPF grant.
"With these grants, buyers of 2-room Flexi, 3-room, 4-room and 5-room flats could pay as little as $4,000, $84,000, $192,000, and $312,000, respectively," HDB noted.
