All posts tagged: BTO

New HDB flats, commercial facilities to be built next to Kembangan MRT station

New HDB flats, commercial facilities to be built next to Kembangan MRT station

OTHER FACILITIES IN THE PIPELINE “There are plans to provide plaza spaces for residents’ recreational activities, and these could serve as additional activity areas for events organised by the People’s Association,” said HDB. A planned jogging path, approximately 1.5 times longer than the current one, will link the neighbourhood and linear parks. Also in the works are a dedicated cycling path along Jalan Kembangan and an enhanced Siglap Park Connector, giving cyclists better access to East Coast Park and Bedok Reservoir As for commercial facilities, HDB noted that a supermarket, eating house and shops may be provided in the proposed development. A preschool, residents’ network centre, and a kidney dialysis centre and outpatient healthcare facility may also be introduced as part of the facilities, it said. To improve access to public transport, a sheltered linkway connecting the new development to Kembangan MRT station may be built. The existing bus stop along Jalan Kembangan could also be upgraded to “incorporate a bus bay where buses can call at the bus stop without obstructing traffic along the road”, said HDB. …

HDB resale prices rise 4.9% in 2023, smallest increase since 2019

HDB resale prices rise 4.9% in 2023, smallest increase since 2019

SINGAPORE: Prices of Housing Board resale flats rose by 4.9 per cent in 2023, a significantly smaller increase compared with the 10.4 per cent price gain in the previous year and the 12.7 per cent growth in 2021. It also marks the slowest year-on-year increase since 2019 when prices grew by 0.1 per cent. The full-year figure comes as data released by the Housing and Development (HDB) on Friday (Jan 26) showed that for the fourth quarter of 2023, resale prices rose by 1.1 per cent, lower than the 1.3 per cent growth in the previous quarter. While some analysts attributed the fourth-quarter figure to the year-end lull, they noted other factors such as the timing of Build-to-Order (BTO) launches in October and December which may have prompted buyers to consider new flats instead. “The timing of these BTO launches appeared to have a notable impact, capturing the attention of many potential home owners. “These potential home owners were possibly swayed by the appeal of brand-new flats, (and) might have redirected their interest away from the resale market to explore these …

Commentary: Tengah residents’ complaints reflect age-old problem of moving into non-mature estates

Commentary: Tengah residents’ complaints reflect age-old problem of moving into non-mature estates

POTENTIAL FINANCIAL GAINS On the other hand, the benefit of buying a BTO flat in new estates like Tengah is that homeowners may see capital appreciation in the years to come. Buyers would be willing to pay more for the improved accessibility and amenities. First-time buyers who bought a BTO flat in non-mature estates like Punggol and Sengkang have profited significantly from selling their house in the resale market after both towns became more built up. When BTO flats in Punggol and Sengkang were first launched in the early 2000s, the price of four-room flats ranged from S$129,000 to S$205,000. These owners saw the value of their homes tripling when they sold a decade later, with resale prices ranging from S$356,000 to S$650,000.  So Tengah residents willing to ride out daily inconveniences could enjoy a financial pay-off years later. Across the 18 BTO projects in Tengah, the median prices of four-room flats were below S$355,000, while five-room flats ranged between S$430,000 to S$485,000. HDB resale prices have seen robust growth, though cooling measures implemented in …

Spacing out BTO launches could increase chances of getting a flat, but some may turn to resale market: Analysts

Spacing out BTO launches could increase chances of getting a flat, but some may turn to resale market: Analysts

SINGAPORE: The spacing out of Build-to-Order (BTO) launches this year could increase applicants’ chances of getting a flat, but the longer wait between sales exercises may see some turn to the resale market, said property analysts. A total of 19,600 new public housing flats will be launched in three batches in 2024 – in February, June and October, the Housing and Development Board (HDB) said on Monday (Jan 8). It is the first time since 2015 that HDB will hold three instead of four BTO sales exercises in a year.  INCREASED CHANCES Property analysts shed some light on how this approach could improve an applicant’s chance of securing a flat.   Although the total number of flats offered throughout the year remains consistent, the head of research and data analytics at Singapore Realtors Inc (SRI) Mohan Sandrasegeran told CNA the key difference lies in the increased density of options in each separate exercise. This approach essentially focuses on the concentration of available units in each exercise rather than “spreading them thinly” across more exercises.   …

3 BTO exercises in 2024, one fewer than usual

3 BTO exercises in 2024, one fewer than usual

SINGAPORE: For the first time since 2015, the Housing and Development Board (HDB) will hold three instead of four Build-to-Order (BTO) sales exercises in a year. A total of 19,600 new public housing flats will be launched in three batches in 2024 – February, June and October. “With three BTO launches instead of four, home buyers can look forward to a bigger housing supply at each launch. This will enable them to select from a wider range of flats and locations,” said HDB on Monday (Jan 8). In 2023, HDB launched 22,800 BTO flats across four sales exercises, an average of 5,700 flats per exercise. This year’s average – across three exercises – is set to be higher at 6,533. Applicants at every BTO launch “will now be able to enjoy a higher chance of success in finding a flat that meets their budget and needs”, said HDB. “In addition, this will reduce the extent of overlap between the selection exercises and provide greater certainty for home buyers.” Buyers currently apply for a flat via BTO sales …