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

Lee Sze Teck, Huttons Asia’s senior research executive, includes that surrounding amenities, including Farrer Park Primary School, the forthcoming mall Piccadilly Galleria, Tekka Market and also City Square Shopping mall, additionally enhance the allure of the project. Lee adds that the other PLH project in Queenstown, Ulu Pandan Glades, is close to another PLH project, Dover Forest, released last November. “The rates for apartments in Ulu Pandan Glades are similar to the earlier launch.”

Specialists expect Farrer Park Fields to observe healthy demand offered its distance to town as well as two MRT terminals– Farrer Park along with Little India, the last of which is an interchange for the Downtown and North-East Lines. “We can expect strong competitiveness for Farrer Park Fields, specifically since BTO developments in the Kallang as well as Whampoa vicinity often tend to be increasingly disputed when near an MRT station,” says Mohan Sandrasegeran, One Global Group’s senior expert for research and content creation.

Christine Sun, top vice ceo of research and analytics at OrangeTee & Tie, believes this may draw away some BTO need to the resell market. “Considering that more assistances are offered, we may assume a lot more qualified purchasers to buy at prominent locations such as older estates, or they might purchase slightly bigger flats,” she claims.

Among the lasting 3 BTO locations, an additional resides in Kallang, Whampoa, around Jalan Rajah. It has 510 3- and four-room flats in two 40-storey blocks. Rates start from $326,000 for a three-room flat and from $459,000 for a four-room flat.

Sun adds that some newbie buyers might hang around till the August BTO exercise, which is likely when the authorities will certainly permit newbie families to get an additional ballot for their BTO applications.

In Jurong West, HDB is launching two residential blocks of 18 floors, which can place 271 units of 3- as well as four-room apartments. The location 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.

The 2nd PLH project remains in Kallang as well as Whampoa, on an area bounded by Race Course Road, Hampshire Road 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 as well as four– area apartments. Suggestive prices 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.

At the same time, the Jurong West area is expected to take advantage of its venue near Pioneer MRT Station. However, with only 271 apartments, getting a flat with the balloting process might be challenging, says One Global Group’s Sandrasegeran.

The site in Tengah might garner interest complying with the announcement of ACS Primary’s relocation to Tengah in 2030. “This might result in more candidates vying for this batch of apartments, although we do not anticipate a huge spike in numbers,” states Sun.

Pertaining to the non-PLH properties, OrangeTee & Tie’s Sun projects the Jalan Rajah spot– though not near to an MRT station– to still attract strong interest given its place near Toa Payoh Central, which has sufficient features.

Terra Hill Hoi Hup Realty and Sunway

The remaining location remains in the Brickland district of Tengah estate, bounded by Brickland Road and Tengah Blvd. With 1,641 units throughout 12 non commercial blocks, it is the largest site under the February 2023 BTO exercise and even the just one with five-room flats. Some other unit types are two-room flexi, 3- and four-room flats. Costs begin with $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.

Under the February 2023 BTO exercise, 2 of the 5 sites have been designated Prime Location Public Housing (PLH) undertakings. The first – Ulu Pandan Glades – lies around Ghim Moh Link and Commonwealth Avenue West in Queenstown, close to the Dover MRT Terminal. It will have 732 units making up three- and four-room apartments. Suggestive rates start from $372,000 for a three-room apartment $541,000 for a four-room flat, leaving out grants.

HDB has launched 4,428 condos to sell under the February 2023 Build-To-Order (BTO) exercise. The apartments are dispersed throughout five sites over four towns– Queenstown, Kallang and also Whampoa, Jurong West and Tengah. This is the initial BTO exercise since the Budget announcement, where procedures targeted at assisting first-time buyers were announced, consisting of higher CPF housing awards for those seeking to get a secondhand flat.

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