February 2023 BTO exercise sees 4,428 flats launched for sale
The second PLH venture is in Kallang as well as Whampoa, on a site bounded by Race Course Road, Hampshire Road as well as Farrer Park Road. The property– Farrer Park Fields– will have 7 24-storey blocks real estate 1,274 units of two-room flexi, three-room as well as four– space flats. 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.
Christine Sun, top vice president of research and analytics at OrangeTee & Tie, believes this may draw away some BTO need to the resell market. “Considering that additional subsidies are given, we might assume extra qualified purchasers to buy at prominent locations such as mature estates, or they might get somewhat larger flats,” she says.
The area in Tengah might garner attraction adhering to the statement of ACS Primary’s transfer to Tengah in 2030. “This might lead to even more applicants trying this set of flats, although we do not anticipate a huge spike in numbers,” states Sun.
Sun adds in that some new buyers might hang around till the August BTO exercise, which is most likely when the authorities will permit new family members to receive an added ballot for their BTO applications.
Under the February 2023 BTO exercise, 2 of the 5 locations have been designated Prime Location Public Housing (PLH) undertakings. The very first – Ulu Pandan Glades – is located along Ghim Moh Link and Commonwealth Avenue West in Queenstown, close to the Dover MRT Terminal. It will have 732 units making up 3- plus four-room apartments. Suggestive rates begin with $372,000 for a three-room flat $541,000 for a four-room flat, excluding grants.
On the other hand, the Jurong West area is anticipated to benefit from its venue near Pioneer MRT Station. However, with just 271 apartments, obtaining a flat via the balloting procedure may be tough, claims One Global Group’s Sandrasegeran.
Among the remaining 3 BTO locations, one more remains in Kallang, Whampoa, along Jalan Rajah. It has 510 three- and four-room flats in 2 40-storey blocks. Rates start from $326,000 for a three-room flat and from $459,000 for a four-room flat.
Specialists expect Farrer Park Fields to find healthy request provided its distance to town and also 2 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, specifically given that BTO properties in the Kallang and also Whampoa proximity tend to be increasingly contested when near an MRT terminal,” states Mohan Sandrasegeran, One Global Group’s senior expert for research and content development.
In Jurong West, HDB is releasing 2 residential blocks of 18 storeys, which are going to place 271 units of 3- as well as four-room condos. The area rises along Jurong West Street 93. Prices begin with $187,000 for a three-room flat and also from $288,000 for a four-room one.
The remaining location is in the Brickland district of Tengah estate, bounded by Brickland Road and Tengah Blvd. With 1,641 units around 12 non commercial blocks, it is the biggest location under the February 2023 BTO exercise and even the only one with five-room apartments. Other unit kinds 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.
Lee Sze Teck, Huttons Asia’s chief research director, incorporates that bordering facilities, consisting of Farrer Park Primary School, the forthcoming shopping center Piccadilly Galleria, Tekka Market and also City Square Mall, additionally boost the allure of the work. 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.”
HDB has recently released 4,428 flats for sale under the February 2023 Build-To-Order (BTO) exercise. The apartments are spread throughout five areas over 4 neighborhoods– Queenstown, Kallang and Whampoa, Jurong West and Tengah. This is the initial BTO exercise given that the Funds statement, where steps targeted at helping first-time property buyers were revealed, including higher CPF real estate assistances for those wanting to purchase a secondhand flat.
Regarding the non-PLH properties, OrangeTee & Tie’s Sun anticipates the Jalan Rajah spot– though not near to an MRT station– to still bring in strong interest provided its location near Toa Payoh Central, which has sufficient features.
