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

Under the February 2023 BTO exercise, 2 of the five locations have actually been designated Prime Location Public Housing (PLH) properties. The original – Ulu Pandan Glades – lies around Ghim Moh Link and Commonwealth Avenue West in Queenstown, close to the Dover MRT Station. It is going to have 732 units comprising three- also four-room flats. Indicative costs begin with $372,000 for a three-room apartment $541,000 for a four-room flat, leaving out awards.

The last site remains in the Brickland district of Tengah estate, bounded by Brickland Roadway and Tengah Blvd. With 1,641 units throughout 12 residential blocks, it is the most extensive site under the February 2023 BTO exercise and the only one with five-room flats. Some other unit types are two-room flexi, 3- and four-room apartments. Costs begin with $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.

Pertaining to the non-PLH projects, OrangeTee & Tie’s Sun anticipates the Jalan Rajah spot– though not close to an MRT station– to still attract strong need offered its place near Toa Payoh Central, which has sufficient services.

Specialists assume Farrer Park Fields to see healthy request offered its closeness 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 anticipate solid competitiveness for Farrer Park Fields, especially considering that BTO developments in the Kallang and Whampoa vicinity often tend to be fiercely debated when near an MRT station,” claims Mohan Sandrasegeran, One Global Group’s senior analyst for research and content design.

Sun adds in that some new customers might hang around up until the August BTO exercise, which is most likely when the government will certainly enable new family members to get an extra ballot for their BTO applications.

In Jurong West, HDB is releasing two home blocks of 18 storeys, which can place 271 units of three- and also four-room flats. The area lies 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.

Lee Sze Teck, Huttons Asia’s senior analysis executive, adds that surrounding facilities, including Farrer Park Primary School, the upcoming shopping center Piccadilly Galleria, Tekka Market and also City Square Shopping center, better boost the appeal of the work. Lee includes that the other PLH property in Queenstown, Ulu Pandan Glades, is close to one more PLH project, Dover Forest, launched last November. “The costs for apartments in Ulu Pandan Glades are similar to the earlier launch.”

On the other hand, the Jurong West site is anticipated to take advantage of its site near Pioneer MRT Station. Nonetheless, with only 271 apartments, obtaining a flat through the balloting process might be tough, claims One Global Group’s Sandrasegeran.

The area in Tengah may gather attraction following the statement of ACS Primary’s relocation to Tengah in 2030. “This may lead to more applicants trying this batch of apartments, although we do not expect a huge spike in numbers,” states Sun.

Among the remaining three BTO areas, one more is in Kallang, Whampoa, around Jalan Rajah. It has 510 three- and four-room flats in 2 40-storey blocks. Costs begin with $326,000 for a three-room flat and from $459,000 for a four-room flat.

Blossoms By The Park condominium

HDB has recently launched 4,428 flats for sale under the February 2023 Build-To-Order (BTO) exercise. The flats are dispersed across 5 locations over four neighborhoods– Queenstown, Kallang and also Whampoa, Jurong West and Tengah. This is the initial BTO exercise since the Budget plan statement, where actions targeted at helping first-time property buyers were announced, including higher CPF housing awards for those aiming to get a secondhand flat.

Christine Sun, top vice president of research and analytics at OrangeTee & Tie, strongly believes this might lead away some BTO demand to the resale market. “Given that additional subsidies are given, we might anticipate a lot more eligible purchasers to buy at popular locations such as older estates, or they might get somewhat bigger flats,” she claims.

The second PLH venture remains in Kallang as well as Whampoa, on a location bounded by Race Course Road, Hampshire Roadway and Farrer Park Road. The development– Farrer Park Fields– will have 7 24-storey blocks real estate 1,274 units of two-room flexi, three-room and also four– space flats. Suggestive prices start from $185,000 for a two-room flexi flat, $356,000 for a three-room flat, and $484,000 for a four-room flat.

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