February 2023 BTO exercise sees 4,428 flats launched for sale
In Jurong West, HDB is releasing two home blocks of 18 floors, which will place 271 units of 3- as well as four-room flats. The site rises along Jurong West Street 93. Rates begin with $187,000 for a three-room flat and from $288,000 for a four-room one.
HDB has recently introduced 4,428 condos for sale under the February 2023 Build-To-Order (BTO) exercise. The condos are spread throughout 5 sites over four neighborhoods– Queenstown, Kallang and Whampoa, Jurong West as well as Tengah. This is the first BTO exercise considering that the Funds announcement, where procedures targeted at aiding new homebuyers were revealed, including greater CPF real estate awards for those seeking to acquire a resale flat.
Under the February 2023 BTO exercise, 2 of the five areas have been assigned Prime Location Public Housing (PLH) properties. The very first – Ulu Pandan Glades – is located around Ghim Moh Link along with Commonwealth Avenue West in Queenstown, near the Dover MRT Terminal. It is going to have 732 units consisting of three- and four-room flats. Indicative costs start from $372,000 for a three-room condo $541,000 for a four-room condo, omitting grants.
Lee Sze Teck, Huttons Asia’s senior analysis director, includes that bordering amenities, including Farrer Park Primary School, the upcoming mall Piccadilly Galleria, Tekka Market and also City Square Mall, additionally increase the charm of the property. Lee adds that the other PLH property in Queenstown, Ulu Pandan Glades, is close to one more PLH plan, Dover Forest, introduced last November. “The prices for flats in Ulu Pandan Glades are similar to the earlier launch.”
The final location remains in the Brickland district of Tengah estate, bounded by Brickland Road and Tengah Blvd. With 1,641 units across 12 non commercial blocks, it is the biggest location under the February 2023 BTO exercise and even the only one with five-room apartments. Some other unit types are two-room flexi, three- and four-room flats. Prices 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 3 BTO locations, one more resides in Kallang, Whampoa, along Jalan Rajah. It has 510 three- and four-room flats in two 40-storey blocks. Costs begin with $326,000 for a three-room flat and from $459,000 for a four-room flat.
The second PLH property remains in Kallang and Whampoa, on an area bounded by Race Course Road, Hampshire Roadway and also Farrer Park Road. The property– Farrer Park Fields– will have seven 24-storey blocks housing 1,274 units of two-room flexi, three-room and also 4– room apartments. 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.
Sun adds that some newbie customers might wait until the August BTO exercise, which is most likely when the state will enable newbie family members to get an added ballot for their BTO applications.
Advisors anticipate Farrer Park Fields to see healthy interest provided its distance to community as well as 2 MRT stations– Farrer Park together with Little India, the last of which is an interchange for the Downtown and North-East Lines. “We can expect solid competitiveness for Farrer Park Fields, especially considering that BTO projects in the Kallang and also Whampoa vicinity tend to be very contested when near an MRT terminal,” says Mohan Sandrasegeran, One Global Group’s senior analyst for research and content creation.
Regarding the non-PLH projects, OrangeTee & Tie’s Sun projects the Jalan Rajah spot– though not alongside an MRT station– to still bring in solid demand offered its place near Toa Payoh Central, which has ample amenities.
The site in Tengah might amass interest following the statement of ACS Primary’s relocation to Tengah in 2030. “This might result in more applicants vying for this set of flats, although we do not anticipate a large spike in numbers,” claims Sun.
Christine Sun, senior vice ceo of research and analytics at OrangeTee & Tie, strongly believes this may draw away some BTO interest to the resale market. “Given that additional subsidies are provided, we might just assume a lot more suited customers to buy at preferred locations such as mature estates, or they may acquire slightly bigger condos,” she says.
At the same time, the Jurong West area is anticipated to gain from its site near Pioneer MRT Station. However, with just 271 flats, securing a flat with the balloting procedure might be challenging, states One Global Group’s Sandrasegeran.
