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

HDB has released 4,428 condos available for sale under the February 2023 Build-To-Order (BTO) exercise. The flats are spread across five locations over four towns– Queenstown, Kallang and Whampoa, Jurong West and Tengah. This is the very first BTO exercise considering that the Budget plan statement, where steps targeted at aiding first-time property buyers were revealed, consisting of higher CPF housing grants for those aiming to purchase a resale flat.

The remaining location remains in the Brickland area of Tengah estate, bounded by Brickland Roadway and Tengah Boulevard. With 1,641 units around 12 housing blocks, it is the biggest area under the February 2023 BTO exercise including the just one with five-room flats. Some other unit kinds are two-room flexi, three- and four-room flats. Prices 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 including $401,000 for a five-room flat.

Pertaining to the non-PLH undertakings, OrangeTee & Tie’s Sun anticipates the Jalan Rajah site– though not close to an MRT station– to still attract strong interest given its location near Toa Payoh Central, which has adequate facilities.

The location in Tengah might gather attraction complying with the announcement of ACS Primary’s transfer to Tengah in 2030. “This may lead to more applicants vying for this set of apartments, although we do not anticipate a large spike in numbers,” says Sun.

Lee Sze Teck, Huttons Asia’s chief analysis executive, includes that surrounding amenities, including Farrer Park Primary School, the coming shopping center Piccadilly Galleria, Tekka Market and City Square Mall, further increase 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 rates for apartments in Ulu Pandan Glades are similar to the earlier launch.”

Consultants anticipate Farrer Park Fields to see healthy interest provided its closeness to town and two MRT terminals– Farrer Park and Little India, the last of which is an interchange for the Downtown and North-East Lines. “We can anticipate strong competitiveness for Farrer Park Fields, particularly considering that BTO projects in the Kallang and Whampoa vicinity have a tendency to be fiercely disputed when near an MRT terminal,” claims Mohan Sandrasegeran, One Global Group’s senior expert for research and content creation.

In Jurong West, HDB is launching 2 residential blocks of 18 floors, which can place 271 units of 3- as well as four-room apartments. The site is located along Jurong West Street 93. Costs start from $187,000 for a three-room flat and from $288,000 for a four-room one.

At the same time, the Jurong West area is anticipated to gain from its location near Pioneer MRT Terminal. Nonetheless, with only 271 apartments, getting a flat with the balloting procedure might be tough, claims One Global Group’s Sandrasegeran.

Under the February 2023 BTO exercise, two of the five sites have been designated Prime Location Public Housing (PLH) projects. The first – Ulu Pandan Glades – lies along Ghim Moh Link and even Commonwealth Avenue West in Queenstown, near the Dover MRT Station. It is going to have 732 units consisting of 3- also four-room flats. Indicative prices begin with $372,000 for a three-room apartment $541,000 for a four-room flat, excluding awards.

Christine Sun, senior vice president of research and analytics at OrangeTee & Tie, strongly believes this may divert some BTO interest to the resell market. “Given that additional assistances are given, we might just assume a lot more suited buyers to buy at popular locations such as developed estates, or they may purchase somewhat bigger apartments,” she states.

The Landmark Condo floor plan

Amongst the remaining three BTO sites, one more resides in Kallang, Whampoa, around Jalan Rajah. It has 510 three- and also four-room apartments in 2 40-storey blocks. Costs begin with $326,000 for a three-room flat and from $459,000 for a four-room flat.

Sun adds that some first-time buyers might hang around till the August BTO exercise, which is likely when the government will certainly permit newbie families to receive an extra ballot for their BTO applications.

The second PLH venture is in Kallang as well as Whampoa, on an area bounded by Race Course Road, Hampshire Road and Farrer Park Road. The development– Farrer Park Fields– are going to have seven 24-storey blocks housing 1,274 units of two-room flexi, three-room and also 4– space apartments. Suggestive prices begin with $185,000 for a two-room flexi flat, $356,000 for a three-room flat, and also $484,000 for a four-room flat.

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