Demand in the mature towns expected to be strong

SINGAPORE — A total of 4,056 flats in Punggol, Clementi and Tampines were launched on Tuesday in the first Build-To-Order (BTO) sales exercise of the year, which was also open to the families on the Fresh Start Housing Scheme for the first time.

Most of the units are in the Punggol (1,815) and Clementi (1,603) projects, while the Tampines project has 638 units. Compared with some of the previous Housing and Development Board (HDB) launches, the latest exercise got off to a relatively quiet start. Other upcoming executive condo launches include Hundred Palms Residences ECYio Chu Kang EC, Inz Residence EC, Anchorvale Lane EC,  while existing ones include The Terrace EC, Brownstone EC, The Vales EC, Parc Life EC , Sol Acres EC, The Visionaire, Bellewoods EC, Signature at Yishun, The Criterion EC and Northwave ECHundred Palms Residences details and Hundred Palms EC show flat will be available shortly.

Overall, for the three-room and bigger flats, there were 1,099 applicants for 3,343 units, or a subscription rate of 0.3, as of 5pm on Tuesday. For the two-room Flexi flats, available in Punggol in this exercise, there were 435 applicants for 713 units, or a subscription rate of 0.6.

The flats, spread across six projects, are the first of 17,000 flats to be launched this year to help ease waiting times for home-buyers, especially young couples looking for BTO units. Families on the Fresh Start scheme, which aims to help second-timer families with young children staying in a public rental flat to own a flat again, can apply for the two-room Flexi flats.

In May, the HDB will be offering 4,600 flats in Bidadari, Geylang, Woodlands and Yishun, while around 3,000 balance flats will be offered in a concurrent Sale of Balance Flats Exercise.

A project in Woodlands scheduled to be launched in this exercise was deferred, as further review was needed because of site conditions.

“The timeline for the launch of BTO projects may occasionally be adjusted when more time is need to review the project design to take into account complex site conditions or new developments,” said an HDB spokesperson in response to queries.

“In the case of the Woodlands site, due to the complexity of the site conditions, further review is needed to study the drainage and sewerage design, and how it can be integrated with the surrounding developments.”

Among the flats launched on Tuesday, those in Clementi were priced more steeply. The 3-Gen flats have indicative prices of S$549,000 to S$709,000, five-room flats are S$571,000 to S$694,000, and four-room flats are S$432,000 to S$550,000. In Punggol, five-room flats are going for S$383,000 to S$498,000, while the four-room flats are S$257,000 to S$365,000.

Three-Gen flats in Tampines have been priced between S$409,000 and S$475,000, five-room flats at S$397,000 to S$469,000, and four-room flats at S$299,000 to S$347,000.

PropNex Realty said the demand in the mature towns of Tampines and Clementi could be strong, as these two estates are popular among applicants who prefer to stay near their parents and relatives.

CEO Ismail Gafoor said fewer flats were launched in Tampines while the flats were more affordably priced, and this could mean a higher subscription rate.

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