SINGAPORE – The Housing Board launched 9,144 Build-To-Order (BTO) flats for sale on Oct 15, including the first flats in two new housing estates – Mount Pleasant in Toa Payoh town and Berlayar on the former Keppel Club site in Bukit Merah.
In all, 10 projects are on sale across Ang Mo Kio, Bedok, Bishan, Bukit Merah, Jurong East, Sengkang, Toa Payoh and Yishun.
The subsidy clawback rate for Berlayar Residences, the first project in the new Berlayar estate forming part of the Greater Southern Waterfront, was set at 14 per cent – the highest so far. The rate for Prime flats in the July sales exercise was between 11 per cent and 12 per cent.
This means when such flats are sold, owners will have to pay HDB a percentage of the resale or valuation price, whichever is higher.
These clawbacks correspond to the extent of the extra subsidies offered, said HDB. There is also a 10-year minimum occupation period (MOP) for these flats.
The rate was set at 12 per cent for Mount Pleasant Crest in Toa Payoh and Redhill Peaks in Bukit Merah. At Bishan Terraces, it is 10 per cent.
The rate was set at 12 per cent for Redhill Peaks in Bukit Merah.
PHOTO: HDB
The only Plus project, Oak Ville @ AMK, comes with a subsidy clawback of 7 per cent. The 1,425-unit project in Ang Mo Kio Avenue 5, near ITE College Central and Anderson Secondary School, also has a 10-year MOP.
The only Plus project, Oak Ville @ AMK, comes with a subsidy clawback of 7 per cent.
PHOTO: HDB
Berlayar Residences will have 880 units of two-room flexi, three- and four-room flats on a site between Telok Blangah and Labrador Park MRT stations.
The wait for a flat there is four years and eight months.
Prices (without grants) range from $218,000 to $369,000 for a two-room flexi flat, $420,000 to $562,000 for a three-room unit, and $578,000 to $788,000 for a four-room flat.
The upcoming blocks will be between 19 and 46 storeys high, and one will have rental flats.
The wait for a flat at Berlayar Residences is four years and eight months.
PHOTO: HDB
The development – which kickstarts a plan to transform Singapore’s southern coast – will form part of 7,000 HDB flats and 3,000 private homes to be built on the former Keppel Club site.
The overall Greater Southern Waterfront comprises 30km of coastline from Marina East to Pasir Panjang. Some 2,000ha of land – twice the size of Punggol – has been earmarked for future redevelopment.
Mount Pleasant Crest in Toa Payoh will house 1,348 two-room flexi, three- and four-room flats on a site in Thomson Road. It will also have 270 public rental flats.
The wait for a flat there is four years and 11 months.
The project will form part of 6,000 BTO flats across four projects planned for the new estate, which was home to the Old Police Academy. Buyers of the three- and four-room flats can opt for slightly cheaper open-concept “white flats” without partition walls.
Prices (without grants) range from $209,000 to $373,000 for a two-room flexi flat, $411,000 to $552,000 for a three-room unit, and $558,000 to $787,000 for a four-room flat.
For comparison, three-room resale flats in Toa Payoh recently transacted at between $768,000 and $850,000, and four-room resale flats at between $1.07 million and $1.19 million, said HDB.
The remaining five projects fall under the Standard classification. These flats do not have a subsidy recovery clause when they are sold, and come with a five-year MOP.
Four Standard projects in Bedok, Sengkang, and Yishun – with a total of 3,294 units – will have shorter waiting times of less than three years.
The first two in Yishun – Chencharu Grove and Yishun Glade – offer a combined 1,395 units with a wait of two years and seven months.
At Chencharu Grove, located within the new housing estate near Khatib MRT station, prices (without grants) range from $154,000 to $226,000 for a two-room flexi flat and $295,000 to $362,000 for a three-room flat. A four-room flat will cost between $358,000 and $439,000, while a five-room flat will cost between $510,000 and $597,000.
Chencharu Grove is located within the new housing estate near Khatib MRT station.
PHOTO: HDB
Yishun Glade (pictured) and Chencharu Grove offers a combined 1,395 units with a wait of two years and seven months.
PHOTO: HDB
The third in Sengkang, the 830-unit Fernvale Plains near Kupang LRT station, has a waiting time of two years and eight months.
Fernvale Plains will also have 207 community care apartments, which come with senior-friendly fittings such as wheelchair-accessible bathrooms.
PHOTO: HDB
It will also have 207 community care apartments, which come with senior-friendly fittings such as wheelchair-accessible bathrooms, as well as health and community services that are meant to help seniors live independently.
The last project with a shorter waiting time, Ping Yi Court in Chai Chee Street in Bedok, houses 862 units with a wait of two years and nine months.
Ping Yi Court houses 862 units with a wait of two years and nine months.
PHOTO: HDB
From October’s BTO exericse, a second component of the Family Care Scheme comes into effect, which grants applicants – including singles – priority if they jointly apply for two units in the same BTO project with their parents.
In July, first-timer singles were granted priority access within the existing quota for single buyers when they buy a two-room flexi flat near or with their parents.
Applications will close at 11.59pm on Oct 22 on the HDB Flat Portal.
In the next BTO exercise in February, HDB will offer about 4,600 flats in Bukit Merah, Sembawang, Tampines and Toa Payoh. About 3,000 balance flats will also be on offer.
