HDB offers 4,000 flats in first BTO of 2017

A total of 4,056 Housing Board flats were offered in the first build-to-order (BTO) exercise of the year yesterday.

These units, ranging from two-room Flexi to Three-Generation (3Gen) flats, are spread across six projects in the non-mature town of Punggol, and the mature towns of Clementi and Tampines.

More than 1,800, or nearly half of this BTO exercise, will consist of flats in Punggol.

This is the first tranche of 17,000 flats to be launched this year.

Without government grants, the prices range from $81,000 for a two-room Flexi flat in Punggol to more than $571,000 for a five-room flat in Clementi.

Eligible first-timer families can enjoy up to $80,000 of housing grants, comprising the Additional CPF Housing Grant of up to $40,000 and the Special CPF Housing Grant of up to $40,000, an HDB press release said yesterday.

This BTO exercise also marks the first time that families on the Fresh Start Housing Scheme can apply for a flat.

The Fresh Start scheme, launched last December, is aimed at helping second-timer families with young children living in a public rental flat to own a flat again.

Eligible families will be able to buy a two-room Flexi flat, with lease options ranging from 45 to 65 years.

They will also enjoy priority allocation of up to 10 per cent of two-room Flexi units, under the Tenants' Priority Scheme.

In a Facebook post yesterday, Minister for National Development Lawrence Wong highlighted the "bumper crop" of almost 200 3Gen flats in this BTO launch.

He wrote: "Besides flats for home-ownership, we continue to promote mutual care and support for families through our flat offerings and schemes... Married or courting couples who wish to live with their parents under one roof can apply for a 3Gen flat in Clementi for the first time, or in Tampines.

SCHEME

"Those who wish to live close to their parents can also apply for flats in Clementi or Punggol under the Multi Generation Priority Scheme."

ERA Realty's key executive officer Eugene Lim said interest is mainly expected to be concentrated in the mature estates, despite the higher prices.

He said: "The flats in Clementi will probably be the most popular in this exercise.

"The flats are located near many family-friendly amenities such as The Clementi Mall."

He said the Punggol projects will have a moderate response because of the large number of flats launched in the estate.

Said Mr Lim: "The Punggol flats are well served by the Punggol LRT system and the newly opened Town Square. The flats are expected to be popular among young families due to the affordable quantum.

"The two-room flats are expected to see strong demand from singles as seen from previous sales exercises."

As of 5pm yesterday, there were only 449 applicants for 1,603 units in Clementi, and 254 applicants for 638 units in Tampines, The Straits Times reported.

But PropNex Realty chief executive Ismail Gafoor told ST this could rise to four applicants for each Clementi flat, and five for each Tampines unit, by the time the exercise closes next Monday.

Punggol has received 831 applications for its 1,815 units. It is the only town offering two-room Flexi flats this time, and as of 5pm yesterday, they were the most heavily subscribed, with 435 applications.

A project in Woodlands had to be deferred to later this year, as a further review was needed to study the drainage and sewerage design, and how it can be integrated with the surrounding developments, HDB said.

The next BTO exercise will be held in May, with 4,600 flats in Bidadari, Geylang, Woodlands and Yishun. About 3,000 balance flats will also be offered in a concurrent Sale of Balance Flats Exercise.