HDB is offering 3,032 flats for sale today. This is the largest supply of flats in a single launch this year. Home buyers will have a wide variety of flats to choose from, as this launch includes the Sale of Balance Flats exercise for flats located across 10 towns. It comprises:
a) 1,408 new flats in Yishun under the Build-to-Order (BTO) system; and
b) 1,624 balance flats spread over 10 non-mature towns/estates under the Sale of Balance Flats (SBF) exercise.
2With this launch, HDB would have offered 12,876 flats for sale since the start of 2010.
3 Yishun Riverwalk
(JPG 600KB), bounded by Yishun Ring Road, Yishun Street 31 and Yishun Avenue 6
(PDF 893KB), will have 1,408 standard flats comprising 254 units of Studio Apartments, 250 units of 3-room, 652 units of 4-room and 252 units of 5-room flats. Facilities provided in this development include an eating house, a mini-mart, two shops, a child care centre and a Residents’ Committee Centre.
Yishun Riverwalk will also be served by the wide range of facilities in the town, such as the Yishun MRT station, bus interchange, Northpoint Shopping Centre and Yishun Mall (an HDB neighbourhood centre). There are also educational, medical and recreational facilities nearby such as North View Primary and Secondary School, Khoo Teck Puat Hospital, Yishun Park and SAFRA Yishun Country Club. Details of the flats offered in Yishun Riverwalk are in Annex A1
SBF exercises are conducted when HDB accumulates enough balance units from previous exercises. 1,624 flats located across 10 towns are being offered for sale in this exercise. They comprise 55 units of 2-room flats; 53 units of 3-room standard flats; 8 units of 3-room premium flats; 1,081 units of 4-room flats; 338 units of 5-room flats and 89 units of Executive (EF) flats. Details of the flats offered and available ethnic quota are in Annex A2
6Applicants can apply for either the BTO or SBF exercise. Based on the response from the last SBF exercise, HDB expects high application rates for the SBF flats. Applicants who wish to have a higher chance of success in booking a flat are encouraged to apply for a BTO flat.
7All flats offered in this launch enjoy a generous subsidy below their market value. The market value, as determined by professional valuers, takes into account the prices of comparable resale flats in the area, adjusted for factors such as location, flat attributes, design, availability of flats for occupation and the prevailing market conditions.
8In addition to the subsidised selling price, eligible first-timers earning not more than $5,000 per month can also apply for the Additional CPF Housing Grant (AHG) of up to $40,000. The AHG can be used to offset the initial down-payment.
9The selling prices for the flats range from:
$63,000 to $87,000 for a Studio Apartment;
Sale of Balance Flats
$141,000 to $181,000 for a 3-room flat
$214,000 to $268,000 for a 4-room flat; and
$287,000 to $350,000 for a 5-room flat
$104,000 to $126,000 for a 2-room flat;
$164,000 to $237,000 for a 3-room flat
$190,000 to $380,000 for a 4-room flat;
$281,000 to $496,000 for a 5-room flat; and
$354,000 to $482,000 for an Executive flat
The pricing details and resale comparables for Yishun Riverwalk under BTO are in Annex B1.
11Flat buyers are advised to exercise financial prudence and buy a flat that they can afford. Buyers looking for more affordable options can consider the BTO flats at Yishun Riverwalk.
12For flats purchased in Yishun Riverwalk, first-time flat buyers are estimated to use 21% to 24% of their monthly household income to meet their monthly loan payments (details in Annex B1). For example, a 4-room unit priced at $240,000 in Yishun Riverwalk requires a monthly mortgage instalment of about $865. A family with a household income of $4,200 will be able to service this mortgage instalment using their CPF contributions without any cash outlay.
13HDB will continue to provide an adequate supply of new flats to meet housing demand. HDB will increase the total new flat supply to more than 16,000 new flats in 2010.
14BTO projects slated for the rest of 2010 include areas such as Bukit Panjang, Punggol, Sengkang and Woodlands. The next launch in Sep 10 will offer about 1,320 flats in Woodlands. More details will be provided at the launch.
15The BTO supply will be supplemented by the upcoming supply of 3,824 units under the Design, Build & Sell Scheme (DBSS) and Executive Condominium (EC) Scheme, to provide choices for higher-income households. The details are as follows:
Two DBSS sites, one in Yishun awarded in May 2010 has an estimated yield of 700 units and the other at Tampines PH2, awarded on 6 Aug 2010, has an estimated yield of 580 units.
Four EC sites in Sengkang, Yishun and Punggol awarded in 1H2010 have an estimated yield of 2,059 units.
Another EC site in Punggol with an estimated yield of 485 units was launched on 5 Aug 2010 with tender closing on 23 Sep 2010.
16The land sales for another three DBSS sites and three EC sites are also in the pipeline. The DBSS sites, located in Bedok Reservoir, Upper Serangoon and Corporation Drive, are expected to yield 1,640 units and the EC sites, located in Pasir Ris, Bukit Panjang and Tampines, are expected to yield 1,415 units. HDB is prepared to launch more sites for DBSS development if there is sustained demand.
Applications for the new flats can be submitted online from 31 Aug 2010 (Tuesday) to 13 Sep 2010 (Monday). More details of the application procedures and BTO and SBF Exhibition can be found in Annex C
18For enquiries, the public can:
- Log on to www.hdb.gov.sg/esales; or
- E-mail firstname.lastname@example.org; or
- Visit the HDB Sales Office to speak with our Customer Service Officers during office hours (Mon to Fri 8 am to 5 pm, Saturday 8 am to 1 pm).