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

The last area is in the Brickland region of Tengah estate, bounded by Brickland Roadway and Tengah Blvd. With 1,641 units around 12 housing blocks, it is the biggest site under the February 2023 BTO exercise including the just one with five-room flats. Other unit types 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 and $401,000 for a five-room flat.

HDB has launched 4,428 flats for sale under the February 2023 Build-To-Order (BTO) exercise. The condos are spread across 5 areas over four communities– Queenstown, Kallang and Whampoa, Jurong West and Tengah. This is the initial BTO exercise given that the Budget announcement, where procedures targeted at helping new property buyers were introduced, consisting of greater CPF real estate grants for those wanting to acquire a secondhand flat.

Sun adds that some new purchasers may hang around until the August BTO exercise, which is most likely when the government will certainly permit newbie families to get an extra ballot for their BTO applications.

The second PLH venture remains in Kallang and Whampoa, on an area bounded by Race Course Road, Hampshire Roadway and Farrer Park Road. The project– Farrer Park Fields– will have 7 24-storey blocks real estate 1,274 units of two-room flexi, three-room and 4– space apartments. Indicative costs 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.

Advisors assume Farrer Park Fields to see strong request offered its closeness to city and 2 MRT stations– Farrer Park along with Little India, the last of which is an interchange for the Downtown and North-East Lines. “We can prepare for strong competition for Farrer Park Fields, especially because BTO projects in the Kallang as well as Whampoa vicinity have a tendency to be increasingly disputed when near an MRT terminal,” claims Mohan Sandrasegeran, One Global Group’s superior analyst for research and content design.

The Arden Phoenix Avenue price

Christine Sun, top vice ceo of research and analytics at OrangeTee & Tie, thinks this might divert some BTO interest to the resale market. “Given that additional subsidies are offered, we might just anticipate a lot more qualified buyers to buy at prominent locations such as mature estates, or they might buy somewhat bigger apartments,” she says.

Under the February 2023 BTO exercise, 2 of the five locations have actually been designated Prime Location Public Housing (PLH) projects. The first – Ulu Pandan Glades – lies around Ghim Moh Link and even Commonwealth Avenue West in Queenstown, near the Dover MRT Terminal. It will have 732 units comprising 3- plus four-room apartments. Suggestive costs start from $372,000 for a three-room condo $541,000 for a four-room flat, leaving out subsidies.

Amongst the remaining three BTO areas, another is in Kallang, Whampoa, around Jalan Rajah. It has 510 3- as well as four-room flats in 2 40-storey blocks. Prices begin with $326,000 for a three-room flat and from $459,000 for a four-room flat.

The location in Tengah might amass interest complying with the statement of ACS Primary’s moving to Tengah in 2030. “This may cause more candidates vying for this set of flats, although we do not expect a large spike in numbers,” claims Sun.

Lee Sze Teck, Huttons Asia’s senior analysis executive, adds that bordering facilities, including Farrer Park Primary School, the coming mall Piccadilly Galleria, Tekka Market as well as City Square Shopping center, further improve the charm of the project. Lee includes that the other PLH project in Queenstown, Ulu Pandan Glades, is close to another PLH project, Dover Forest, launched last November. “The costs for apartments in Ulu Pandan Glades are similar to the earlier release.”

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

In Jurong West, HDB is releasing 2 home blocks of 18 storeys, which will place 271 units of 3- and four-room apartments. The site rises along Jurong West Street 93. Prices begin with $187,000 for a three-room flat as well as from $288,000 for a four-room one.

At the same time, the Jurong West location is anticipated to take advantage of its location near Pioneer MRT Terminal. However, with only 271 apartments, obtaining a flat via the balloting procedure may be tough, claims One Global Group’s Sandrasegeran.

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