HDB launches 1,010 BTO flats in Punggol

Published December 23, 2010


HDB launches 1,010 BTO flats in Punggol

By UMA SHANKARI

THE Housing & Development Board (HDB) yesterday launched another 1,010 new flats for sale in its latest build-to-order (BTO) project, Punggol Topaz.

Including this launch, HDB has now offered a total of 17,713 new flats for sale under its BTO and sale of balance flat exercises in 2010, it said.

And the agency will continue to roll out new supply at a steady rate next year. It plans to launch about 5,000 new BTO flats in the first quarter of 2011, including 1,700 flats in Bukit Batok and Yishun in January.

For the whole of 2011, HDB is prepared to launch up to 22,000 new BTO flats if demand is sustained, it said.

Punggol Topaz, located along Punggol Way and Punggol Field, comprises 184 three-room, 542 four-room and 284 five-room standard flats. Some 95 per cent of the flat supply will be set aside for first-timer households.

Selling prices range from $166,000 to $207,000 for a three-room flat; $267,000 to $329,000 for a four-room flat; and $335,000 to $406,000 for a five-room flat.

In line with HDB's plans to develop Punggol as an eco-town, Punggol Topaz is designed with eco-friendly features to receive Green Mark certification.

PropNex expects the attractive pricing of the flats to be the biggest pull factor for potential applicants.

Based on transactions handled by the property firm in November 2010, the prices for four-room and five-room flats in Punggol Topaz are 25 per cent and 19 per cent cheaper than prevailing resale prices.

'Despite the slight drop in median resale prices in Punggol since 3Q10, this still translates to a hefty price difference and greater affordability for the BTO flats in Punggol Topaz,' said PropNex corporate communications manager Adam Tan.

He expects strong demand for the new flats due to the current popularity of Punggol - even though the number of new flats introduced by HDB this year is at a high of almost 18,000.


Source: www.businesstimes.com.sg