February 2023 BTO exercise sees 4,428 flats launched for sale

The 2nd PLH venture is in Kallang and Whampoa, on a site bounded by Race Course Road, Hampshire Road and also Farrer Park Road. The property– Farrer Park Fields– will have seven 24-storey blocks real estate 1,274 units of two-room flexi, three-room and 4– room flats. Suggestive costs begin with $185,000 for a two-room flexi flat, $356,000 for a three-room flat, and also $484,000 for a four-room flat.

Christine Sun, senior vice ceo of research and analytics at OrangeTee & Tie, believes this can draw away some BTO interest to the resell market. “Given that more aids are provided, we might just assume extra eligible customers to buy at prominent locations such as developed estates, or they may acquire slightly bigger flats,” she says.

The location in Tengah may garner interest 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 huge spike in numbers,” says Sun.

In Jurong West, HDB is launching two non commercial blocks of 18 storeys, which will house 271 units of three- and also four-room flats. The location is located along Jurong West Street 93. Costs start from $187,000 for a three-room flat as well as from $288,000 for a four-room one.

HDB has launched 4,428 condos for sale under the February 2023 Build-To-Order (BTO) exercise. The flats are spread throughout five areas over four towns– Queenstown, Kallang and also Whampoa, Jurong West as well as Tengah. This is the first BTO exercise since the Budget plan statement, where actions targeted at helping new property buyers were announced, including greater CPF housing grants for those seeking to acquire a secondhand flat.

Newport Residences condo

The final site is in the Brickland area of Tengah estate, bounded by Brickland Road and Tengah Boulevard. With 1,641 units around 12 housing blocks, it is the biggest location under the February 2023 BTO exercise including the only one with five-room flats. Some other unit types are two-room flexi, three- and four-room apartments. Rates 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 and $401,000 for a five-room flat.

At the same time, the Jurong West location is anticipated to take advantage of its venue near Pioneer MRT Station. Nonetheless, with just 271 apartments, securing a flat through the balloting procedure may be difficult, states One Global Group’s Sandrasegeran.

Consultants anticipate Farrer Park Fields to see healthy interest offered its distance to city and two MRT stations– Farrer Park along with Little India, the last of which is an interchange for the Downtown and North-East Lines. “We can anticipate solid rivalry for Farrer Park Fields, particularly because BTO properties in the Kallang and Whampoa proximity tend to be very debated when near an MRT station,” claims Mohan Sandrasegeran, One Global Group’s top analyst for research and content development.

Among the remaining three BTO sites, another resides in Kallang, Whampoa, around Jalan Rajah. It has 510 3- and four-room flats in two 40-storey blocks. Prices begin with $326,000 for a three-room flat and from $459,000 for a four-room flat.

Lee Sze Teck, Huttons Asia’s senior research executive, adds that bordering facilities, including Farrer Park Primary School, the upcoming shopping mall Piccadilly Galleria, Tekka Market as well as City Square Mall, better improve the charm of the property. Lee includes that the many other PLH venture in Queenstown, Ulu Pandan Glades, is close to one more PLH project, Dover Forest, introduced last November. “The costs for flats in Ulu Pandan Glades resemble the earlier launch.”

Pertaining to the non-PLH projects, OrangeTee & Tie’s Sun projects the Jalan Rajah spot– though not near to an MRT terminal– to still draw in solid need provided its site near Toa Payoh Central, which has ample services.

Under the February 2023 BTO exercise, 2 of the five sites have actually been designated Prime Location Public Housing (PLH) undertakings. The original – Ulu Pandan Glades – is located around Ghim Moh Link and even Commonwealth Avenue West in Queenstown, close to the Dover MRT Station. It is going to have 732 units comprising three- plus four-room condos. Indicative prices begin with $372,000 for a three-room condo $541,000 for a four-room flat, omitting subsidies.

Sun includes that some newbie buyers may wait until the August BTO exercise, which is likely when the government will certainly permit new households to acquire an extra ballot for their BTO applications.

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