February 2023 BTO exercise sees 4,428 flats launched for sale
Among the remaining 3 BTO sites, one more is in Kallang, Whampoa, around Jalan Rajah. It has 510 3- and four-room flats in 2 40-storey blocks. Rates begin with $326,000 for a three-room flat and from $459,000 for a four-room flat.
Relating to the non-PLH properties, OrangeTee & Tie’s Sun projects the Jalan Rajah site– though not alongside an MRT terminal– to still bring in strong demand given its location near Toa Payoh Central, which has sufficient amenities.
Consultants expect Farrer Park Fields to find healthy demand given its proximity to community and 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 prepare for strong competitiveness for Farrer Park Fields, especially considering that BTO projects in the Kallang and Whampoa vicinity have a tendency to be very disputed when near an MRT station,” says Mohan Sandrasegeran, One Global Group’s senior analyst for research and content development.
The last location remains in the Brickland district of Tengah estate, bounded by Brickland Road and Tengah Blvd. With 1,641 units throughout 12 housing blocks, it is the biggest site under the February 2023 BTO exercise including the just one with five-room flats. Some other unit kinds are two-room flexi, 3- 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 including $401,000 for a five-room flat.
Lee Sze Teck, Huttons Asia’s chief analysis director, adds that surrounding amenities, consisting of Farrer Park Primary School, the forthcoming shopping mall Piccadilly Galleria, Tekka Market and also City Square Mall, further improve the appeal of the property. Lee adds that the other PLH project in Queenstown, Ulu Pandan Glades, is close to another PLH project, Dover Forest, introduced last November. “The rates for flats in Ulu Pandan Glades resemble the earlier release.”
The location in Tengah may garner attraction following the news of ACS Primary’s transfer to Tengah in 2030. “This might result in more applicants vying for this batch of apartments, although we do not anticipate a huge spike in numbers,” states Sun.
HDB has recently introduced 4,428 condos available for sale under the February 2023 Build-To-Order (BTO) exercise. The condos are dispersed across 5 sites over four communities– Queenstown, Kallang and also Whampoa, Jurong West as well as Tengah. This is the initial BTO exercise given that the Budget announcement, where actions targeted at assisting new buyers were introduced, including greater CPF real estate assistances for those wanting to acquire a resale flat.
On the other hand, the Jurong West location is expected to take advantage of its venue near Pioneer MRT Terminal. Nonetheless, with just 271 apartments, getting a flat with the balloting process may be tough, claims One Global Group’s Sandrasegeran.
Sun adds in that some newbie customers might hang around till the August BTO exercise, which is most likely when the government will certainly permit newbie households to receive an added ballot for their BTO applications.
Christine Sun, top vice ceo of research and analytics at OrangeTee & Tie, strongly believes this might divert some BTO need to the resale market. “Since more subsidies are offered, we might just assume extra qualified customers to purchase prominent locations such as developed estates, or they may purchase a little bigger apartments,” she claims.
In Jurong West, HDB is introducing two home blocks of 18 floors, which are going to house 271 units of three- and also four-room flats. The site is located along Jurong West Street 93. Costs begin with $187,000 for a three-room flat and also from $288,000 for a four-room one.
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 development– Farrer Park Fields– are going to have seven 24-storey blocks real estate 1,274 units of two-room flexi, three-room as well as 4– space flats. Indicative prices begin with $185,000 for a two-room flexi flat, $356,000 for a three-room flat, and $484,000 for a four-room flat.
Under the February 2023 BTO exercise, 2 of the five sites have actually been designated Prime Location Public Housing (PLH) properties. The original – Ulu Pandan Glades – stands along Ghim Moh Link and even Commonwealth Avenue West in Queenstown, close to the Dover MRT Station. It will have 732 units making up 3- also four-room apartments. Indicative rates begin with $372,000 for a three-room flat $541,000 for a four-room condo, leaving out grants.