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

The area in Tengah might amass attraction adhering to the statement of ACS Primary’s relocation to Tengah in 2030. “This might result in more candidates vying for this set of apartments, although we do not expect a huge spike in numbers,” claims Sun.

Under the February 2023 BTO exercise, two of the five locations have actually been marked Prime Location Public Housing (PLH) properties. The original – Ulu Pandan Glades – lies around Ghim Moh Link and even Commonwealth Avenue West in Queenstown, close to the Dover MRT Terminal. It is going to have 732 units consisting of 3- and four-room flats. Indicative rates begin with $372,000 for a three-room apartment $541,000 for a four-room flat, omitting subsidies.

Sun adds that some new buyers may wait up until the August BTO exercise, which is likely when the government will permit new households to obtain an extra ballot for their BTO applications.

The final area remains in the Brickland area of Tengah estate, bounded by Brickland Road and Tengah Blvd. With 1,641 units across 12 residential blocks, it is the biggest area under the February 2023 BTO exercise and even the only one with five-room apartments. 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 and $401,000 for a five-room flat.

HDB has recently launched 4,428 condos to sell under the February 2023 Build-To-Order (BTO) exercise. The flats are dispersed across five locations over 4 neighborhoods– Queenstown, Kallang and Whampoa, Jurong West as well as Tengah. This is the very first BTO exercise considering that the Budget plan statement, where actions targeted at helping first-time homebuyers were introduced, including greater CPF housing assistances for those aiming to get a secondhand flat.

Among the remaining three BTO locations, another is in Kallang, Whampoa, along Jalan Rajah. It has 510 3- and four-room flats in two 40-storey blocks. Prices begin with $326,000 for a three-room flat and from $459,000 for a four-room flat.

Lee Sze Teck, Huttons Asia’s chief analysis director, incorporates that bordering amenities, consisting of Farrer Park Primary School, the upcoming shopping center Piccadilly Galleria, Tekka Market as well as City Square Shopping center, better boost the appeal of the work. Lee includes that the many other PLH property in Queenstown, Ulu Pandan Glades, is close to one more PLH plan, Dover Forest, launched last November. “The rates for flats in Ulu Pandan Glades resemble the earlier release.”

Christine Sun, top vice president of research and analytics at OrangeTee & Tie, believes this can divert some BTO interest to the resale market. “Given that additional assistances are given, we might just anticipate more qualified buyers to purchase prominent locations such as developed estates, or they may get slightly larger flats,” she says.

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In Jurong West, HDB is introducing 2 non commercial blocks of 18 floors, which are going to place 271 units of 3- and four-room condos. The location lies along Jurong West Street 93. Rates begin with $187,000 for a three-room flat and from $288,000 for a four-room one.

Advisors assume Farrer Park Fields to observe healthy demand given its closeness to city as well as 2 MRT stations– Farrer Park and Little India, the latter of which is an interchange for the Downtown and North-East Lines. “We can anticipate strong competition for Farrer Park Fields, especially because BTO projects in the Kallang as well as Whampoa proximity tend to be very debated when near an MRT station,” says Mohan Sandrasegeran, One Global Group’s top expert for research and content development.

Pertaining to the non-PLH properties, OrangeTee & Tie’s Sun anticipates the Jalan Rajah site– though not near to an MRT station– to still bring in strong interest offered its place near Toa Payoh Central, which has ample services.

The 2nd PLH property remains in Kallang and Whampoa, on a site bounded by Race Course Road, Hampshire Roadway and also 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 four– area apartments. Indicative rates begin with $185,000 for a two-room flexi flat, $356,000 for a three-room flat, moreover $484,000 for a four-room flat.

On the other hand, the Jurong West area is expected to take advantage of its venue near Pioneer MRT Station. However, with just 271 flats, obtaining a flat via the balloting process may be challenging, claims One Global Group’s Sandrasegeran.

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