5,495 BTO flats for sale in May exercise; 5 projects across mature, non-mature estates
The May 2023 BTO and SBF exercises will run from May 30 to Jun 5.
A total of 6,995 flats were launched for sale on Tuesday (May 30) under the May 2023 Build-To-Order (BTO) and Sale of Balance Flats (SBF) exercises, with flats across various towns and estates.
The BTO exercise sees 5,495 flats in mature and non-mature estates being offered. It includes the launch of five projects – including the largest one at Tengah – that are estimated to take an average waiting time of about 3.4 years.
Another 1,500 flats are under the SBF exercise, with 61 per cent of them already completed and the rest in various stages of construction.
The five BTO projects will be located in Bedok, Kallang Whampoa, Serangoon and Tengah, and will have a selection of flats ranging from that of two-room Flexis to 3Gens.
Of the five projects, one is launched under the Prime Location Public Housing model. Farrer Park Arena – which will be located in Kallang Whampoa – will have a total of 92 three-room and 477 four-room flat units. The estimated waiting time for this project’s completion is four years, which is the longest among all five BTO projects in the May 2023 exercise.
A three-room flat will cost from $362,000 before grants, while a four-room flat will cost from $505,000 before grants. The Housing & Development Board will set aside 20 per cent of Farrer Park Arena’s units to first-time families, and 2 per cent to second-time families under the Married Child Priority Scheme.
Some amenities near the Farrer Park Arena BTO flats include the Farrer Park and Little India MRT stations, marketplaces like Tekka Market, and KK Women’s and Children’s Hospital.
Named Bedok South Blossoms, the BTO project in Bedok is in a mature estate and will have 144 two-room Flexis, 120 three-room, 766 four-room, 573 five-room and 37 3Gen flat units. Prices for each type of flat start from $165,000 for a two-room Flexi, $320,000 for a three-room, $448,000 for a four-room, $588,000 for a five-room, and $605,000 for a 3Gen before grants.
The estimated waiting time for the project’s completion is 3.4 years. Nearby amenities to the project site include Tanah Merah MRT, Marketplace @ 58, Bedok Green Primary School and Bedok View Secondary School.
The second BTO project in a mature estate is Serangoon North Vista, which offers 330 four-room and five-room flat units. Each type of flat will cost from $397,000 and $558,000 respectively before grants.
Its completion is estimated to take 3.5 years, and will have amenities like the upcoming Serangoon Gardens MRT station, a community park, basketball court and schools like Serangoon Garden Secondary School within walking distance.
Two BTO projects – Plantation Verge and Parc Meadow @ Tengah – will be located in the non-mature estate of Tengah. They are both within distance of the Bukit Gombak and Chinese Garden MRT stations, community parks, shopping malls and schools like Dunearn Secondary School.
Plantation Verge will house 182 two-room Flexi, 88 three-room, 377 four-room and 324 five-room flat units, and is estimated to take around 3.6 years to fully construct.
A two-room Flexi will cost from $125,000, a three-room from $238,000, a four-room from $350,000, and a five-room from $454,000 before grants.
Parc Meadow @ Tengah has 446 two-room Flexis, 82 three-room, 791 four-room and 666 five-room flat units on sale. Cost prices for each type of flat unit will start from $127,000 for a two-room Flexi, $253,000 for a three-room, $363,000 for a four-room, and $489,000 for a five-room before grants.
First-time flat buyers that wish to apply for a BTO flat are encouraged by the Housing & Development Board to pick one from the Tengah projects, as at least 95 per cent of its units are reserved for them and buyers have to wait for a shorter period of time for their new homes. Pac Meadow @ Tengah in particular has the shortest waiting time among the five in the May 2023 BTO exercise of just over three years.
They should also check if they are eligible for any housing grants that can be used to offset their flat’s purchase price. These include the Enhanced Housing Grant, the Proximity Housing Grant and CPF Housing Grant.
In the May 2023 SBF Exercise, there are 310 two-room Flexi, 145 three-room, 326 four-room, and 113 five-room, 3Gen and Executive flat units in non-mature estates on offer. Mature estates have 196 two-room Flexis, 124 three-room, 228 four-room, and 58 five-room, 3Gen and Executive flat units on offer as well.
All flat types being heavily subsidised and priced lower than some on resale.
Prices for each flat type in non-mature estates start from $98,000 for a two-room, $119,000 for a three-room, $223,000 for a four-room, $355,000 for a five-room, $457,000 for a 3Gen, and $515,000 for an Executive before grants.
As for those in mature estates, applicants can expect for costs to start from $122,000 for a two-room Flexi, $119,000 for a three-room, $293,000 for a four-room, $435,000 for a five-room, $535,000 for a 3Gen, and $640,000 for an Executive.
Applicants for the May 2023 BTO and SBF Exercises have to first complete the Preliminary HDB Flat Eligibility check on the HDB Flat Portal before submitting a flat application from now to Jun 5.
There will be more BTO exercise launches later this year in August and November. The August exercise is expected to offer about 6,700 flats, while the November exercise will offer about 6,300 flats in mature and non-mature estates.
More details about the upcoming projects will be released closer to the exercises’ launch dates.