HDB launches 3 BTO projects with 1,728 flats

Published January 26, 2011

HDB launches 3 BTO projects with 1,728 flats
Bt Batok project will have 180; projects in Yishun will have total of 1,548 units

By UMA SHANKARI

THE Housing & Development Board (HDB) yesterday launched for sale three more build-to-order (BTO) projects - one at Bukit Batok and two at Yishun - with a total of 1,728 standard flats.

The Bukit Batok project, Golden Daisy, will comprise solely of 180 studio apartments which will sell for between $83,000 and $118,000 each.

The two projects in Yishun - Orchid Spring @ Yishun and Vista Spring @ Yishun - offer a mix of two-room, three-room, four-room and five-room flats. Orchid Spring @ Yishun, located along Yishun Avenue 11, will have 948 units while the adjacent Vista Spring @ Yishun offers 600 flats.

Prices at the two projects range from $93,000 to $112,000 for a two-room flat; $150,000 to $183,000 for a three-room flat; $230,000 to $278,000 for a four-room flat; and $292,000 to $353,000 for a five-room flat.

Analysts said the attractive pricing of the Yishun flats would be a draw and expect that over-subscription rates for the projects could be as high as five times. The two projects are located in the same vicinity as a sold-out private condominium project, The Estuary.

'Pricing is attractive when compared to resale flats in the same locality that are about 22-24 years old. The new three-room flats are 30-40 per cent cheaper, while the four-room and five-room flats are 7-12 per cent and 16-21 per cent cheaper respectively,' said ERA's key executive officer Eugene Lim.

The flats at Yishun are clearly targeted at young couples and families, analysts said. Besides playgrounds, fitness stations and a jogging track, Orchid Spring even boasts a child care centre within the development itself.

By contrast, the 180 units at Golden Daisy are meant for senior citizens, observed PropNex corporate communications manager Adam Tan. But the apartments are not likely to be keenly contested for as studio apartments are never in very high demand, Mr Tan added.

HDB has ramped up its new flat supply significantly to meet the demand from first-timer households.

This year, the agency will offer up to 22,000 new flats under its BTO scheme if demand is sustained. This is 24 per cent more than the 17,700 flats offered for sale under the BTO scheme and sale of balance flats exercise in 2010.

In the first six months of 2011, about 11,000 new BTO flats will be offered. The upcoming projects will have a good geographical spread in towns such as Bukit Panjang, Jurong West, Punggol, Sengkang and Yishun, HDB said.


Source: www.businesstimes.com.sg