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HDB launches almost 9,000 flats in May

PropertyGuru

Artist’s impression of the EastCreek @ Canberra BTO project. Source: HDB The Housing and Development Board (HDB) launched 8,940 new flats for sale on Tuesday (24 May) under its May 2016 sales exercise.
They comprise 3,770 Build-To-Order (BTO) flats across four projects in the non-mature towns of Bukit Panjang and Sembawang, and another two projects in the mature estates of Ang Mo Kio and Bedok. The remaining 5,170 units are balance flats comprising unsold flats from previous BTO launches.
The flat types range from typical 3- to 5-room units, as well as 2-room Flexi and 3Gen flats. Prices start from $74,000 for a 2-room Flexi flat at the EastCreek @ Canberra project, excluding grants.
In a statement, the HDB said eligible first-time buyers can enjoy up to $80,000 in housing grants, comprising the Additional CPF Housing Grant and the Special CPF Housing Grant.
“With 25 percent of May’s BTO launch being in matured estates (Ang Mo Kio and Bedok), it will go a long way in meeting demand. There will always be strong demand in mature estates as land is limited. As such, we expect about four to five applications per unit there,” said Mohamed Ismail, CEO of PropNex Realty.
“In the other non-mature towns (Bukit Panjang and Sembawang), we expect about two applications per unit.”

May 2016 BTO exercise
May 2016 BTO exercise

Source: HDB


Meanwhile, applicants are advised to apply for a BTO flat in non-mature towns to enjoy a higher chance of success in securing a flat, said the HDB.
They can submit their applications online on the HDB InfoWEB from today to 30 May 2016.
This is the second sales launch for 2016, and brings the total number of flats launched for sale in the first half of the year to 13,110 units.
The next sales launch will take place in August 2016, whereby the HDB will offer around 4,810 BTO flats in Hougang, Sembawang, Tampines and Yishun.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

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