HDB launches over 4,500 BTO flats, including in Bukit Merah, Queenstown under prime location model
A total of 4,583 Build-To-Order (BTO) flats were launched for sale by the Housing Board on Friday (May 27), including two projects in Bukit Merah and Queenstown under the prime location public housing (PLH) model which comes with a 6 per cent subsidy clawback clause upon their resale.
The units are spread across five housing projects in five estates, in the second sales exercise for the year.
In addition, another 1,952 flats were on offer in this year's first Sale of Balance Flats (SBF) scheme.
This means a total of 6,535 new flats were launched on Friday.
Both the Bukit Merah and Queenstown BTO projects under the PLH model come with stricter buying and selling conditions.
Bukit Merah Ridge offers 1,669 three-room and four-room flats across five blocks, ranging from 29 to 48 storeys.
The project is bounded by Henderson, Tiong Bahru and Lower Delta roads. Future residents will be served by both Redhill and Tiong Bahru MRT stations.
Prices range from $377,000 to $509,000, without grants, for a three-room flat, and $540,000 to $737,000 for a four-room flat.
Prices are slightly lower than those in last November's Rochor BTO project, which is also under the PLH model.
Buyers of the Bukit Merah flats will have to wait about 60 months - around five years - for these flats, as the project is estimated to be completed in the first quarter of 2028.
In the mature estate of Queenstown, a total of 867 three-room and four-room flats across four blocks are on offer at Ghim Moh Ascent.
The site is on Ghim Moh Road, next to Buona Vista MRT station.
Prices range from $369,000 to $481,000 for a three-room flat, and $511,000 to $691,000 for a four-room flat.
Buyers will have to wait around five years for these flats too, as this project is also estimated to be completed in the first quarter of 2028.
Under the PLH model, owners of these Bukit Merah and Queenstown flats will pay 6 per cent of the resale price or valuation, whichever is higher, to HDB when they sell their home on the open market for the first time.
Owners will also be subject to a 10-year minimum occupation period (MOP), up from the five years for other flats, before they can sell their flats on the open market.
This means owners of the Bukit Merah and Queenstown flats will likely be able to resell these flats only some time in 2038.
Standard BTO flats come with a five-year MOP and do not have a subsidy clawback clause.
The other mature estate BTO project is Kim Keat Heights in Toa Payoh, which does not fall under the PLH model.
A total of 385 two-room flexi, three-room and four-room flats are on offer across two blocks, on a site bounded by Lorong 6 and Lorong 7 Toa Payoh.
Prices start from $289,000 for a three-room flat and $420,000 for a four-room flat.
Buyers will have to wait about 55 months for these flats as the project is slated for completion in the third quarter of 2027.
In the non-mature estate of Jurong West, a total of 1,016 two-room flexi, three-room, four-room and five-room flats are on offer across seven blocks ranging from 11 to 18 storeys at Lakeside View.
The site is bounded by Kang Ching and Yuan Ching Roads and is within walking distance of both Jurong Lake Gardens and Lakeside MRT station.
Prices start from $215,000 for a three-room flat, $320,000 for a four-room flat and $412,000 for a five-room flat.
The estimated completion date is in the fourth quarter of 2026, so buyers have to wait about 46 months - just under four years - for their homes.
In the non-mature estate of Yishun, buyers can choose from 646 two-room flexi, four-room and five-room flats across five blocks at Yishun Beacon.
The site is bounded by Yishun Avenue 2 and Yishun Central 1.
Prices start from $328,000 for a four-room flat and $485,000 for a five-room flat.
Buyers will also have the shortest wait for these flats at 39 months - just over three years - as the project is slated for completion in the second quarter of 2026.
The 1,952 units offered under the SBF scheme are spread across mature and non-mature estates such as Bishan, Clementi, Hougang and Tengah.
About 34 per cent of them are completed, while the rest are in various stages of construction.
Applications for the flats close on June 2 at 11.59pm on the HDB flat portal. The flats will be allocated through balloting.
In August, about 4,900 BTO flats in towns such as Ang Mo Kio, Bukit Merah, Choa Chu Kang, Jurong East, Tampines and Woodlands will be offered.
Another 9,500 BTO flats will be offered in towns such as Bukit Batok, Kallang Whampoa, Queenstown, and Yishun in November.
The exact location of these projects and the number of flats at each site will be released closer to the launch date.
HDB is on track to launch up to 23,000 BTO flats this year.