Market Watch
HDB releases 4,089 flats for sale
On Sept 11, the Housing and Development Board (HDB) released 4,089 flats for sale, with 3,373 Build-To-Order (BTO) flats, and 716 re-offered balance (ROF) flats. This will be the first sales exercise where eligible first-time HDB flat buyers can benefit from the higher income ceilings and Enhanced CPF Housing Grant (EHG), which kicked in on the same day.
“The September 2019 sales launch will likely be well-subscribed with the recent announcement of the EHG,” notes Ismail Gafoor, CEO of PropNex Realty, who adds that “with the increased income ceiling of up to $9,000 for grants, more buyers will now qualify to purchase BTO flats in both mature and non-mature estates”. He adds that now, “even middle-income families with household income of $6,000 will be able to qualify for a $35,000 grant”.
The 3,373 BTO flats on offer are spread across three projects. Two projects, Punggol Point Cove (1,179 units) and Punggol Point Crown (1,545 units), are in the non-mature town of Punggol, while Tampines Green
Glen project (649 units) is in the mature town of Tampines.
A wide selection of flats are available, from two-room flexi plus to five-room flats. Prices for the Punggol projects range from $109,000 for a two-room flexi plus to $551,000 for a five-room flat; and from $312,000 for a fourroom unit to $504,000 for a five-room flat in the Tampines project.
The “strategically-located” Tampines GreenGlen project is “likely to exceed eight times subscription rates for this sales exercise”, says Gafoor. The bigger-sized units in both Punggol and Tampines “will be highly sought after, with five-room units possibly attracting double-digit subscription”, he adds.
Flats for re-offer
The 716 unselected flats in November 2018 Sale of Balance Flats exercise will be up for re-offer, according to HDB. Out of the 716 flats, 268 units are two-room flexi, 202 units are three-room flats, 90 units are four-room flats, 49 units are five-room flats, 104 units are 3Gen, and three units are executive flats.
At least 95% of the flat supply will be set aside for first-timer families, and up to 5% for second-timer families, says HDB. As for the elderly, they may apply to purchase a two-room flexi flat, provided they are eligible. They will be shortlisted after families for the booking of flats.
“With the higher grant of up to $160,000 allotted for resale flats, we foresee that some first-timers may well consider purchasing resale flats as they could collect their keys within [the next] few months,” says Gafoor.
Applications for BTO and ROF flats can be made online on HDB’s website from Sept 11 to 17.
HDB will offer about 4,500 BTO flats in Ang Mo Kio, Tampines and Tengah this November. About 3,000 BTO flats in Sembawang and Toa Payoh will be offered next February.
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