HDB is launching two new BTO projects today – Senja Gateway
(JPG 103KB) in Bukit Panjang and Corporation Tiara
(JPG 87KB) in Jurong West. A total of 1,016 flats will be offered, comprising 254 units of Studio Apartments (SA), 484 units of 4-room and 278 units of 5-room flats. 95% of the public supply of 4- and 5-room flats will be set aside for First-Timers. The details of the flats offered in Senja Gateway and Corporation Tiara are in Annex A.
2With today’s launch, HDB would have offered a total of 9,844 new BTO flats for the first seven months of this year. This has exceeded the supply of 9,000 BTO flats offered for the whole of 2009. If demand from first-timer households is sustained, HDB is prepared to offer up to 16,000 BTO flats in 2010. This is a significant supply of flats. In comparison, the total annual take-up of HDB flats offered in the last ten years ranged from 7,000 in 2006 to 16,100 in 2000, and there were balance flats almost every year. The upcoming projects for the rest of 2010 will enjoy a good geographical spread, covering areas such as Punggol, Sengkang, Woodlands, Yishun, etc.
3 Senja Gateway
(PDF 871KB), located at the junction of Kranji Expressway and Woodlands Road, will have 741 standard flats, comprising 254 units of Studio Apartments, 313 units of 4-room and 174 units of 5-room flats. Facilities in this development include a mini-mart, eating house and shops. Residents of Bukit Panjang are well-served by the LRT system, which links to Choa Chu Kang MRT station. Commuting will be further enhanced with the future Downtown Line 2. Bukit Panjang Plaza, Greenridge Shopping Centre and Fajar Shopping Centre are within easy reach. There are also primary and secondary schools in the area.
, bounded by Corporation Road and Yung Kuang Road, will offer 275 premium flats, comprising 171 units of 4-room and 104 units of 5-room flats. Besides a child care centre and Residents’ Committee Centre within the development, residents will enjoy the wide range of facilities in the established Taman Jurong estate, such as the Taman Jurong Shopping Centre (an HDB neighbourhood centre), market/food centre and community club. There are also primary and secondary schools in the area. The Ayer Rajah Expressway is a short drive away.
5New HDB flats are priced with a generous subsidy below their market value. The market value takes into account the prices of resale flats in the area, adjusted for factors such as location, flat attributes, project design and prevailing market conditions, as determined by professional valuers. In 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.
6The selling prices for the flats range from:
$67,000 to $95,000 for a Studio Apartment;
$242,000 to $306,000 for a 4-room flat; and
$308,000 to $398,000 for a 5-room flat
$242,000 to $325,000 for a 4-room flat; and
$304,000 to $389,000 for a 5-room flat
The pricing details and resale comparables for Senja Gateway and Corporation Tiara are in Annexes A
(PDF 28KB) and B
First-time flat buyers are estimated to use 23% to 24% of their monthly household income to meet their monthly loan payments for flats in Senja Gateway and Corporation Tiara (details are in Annex B
(PDF 24KB)). For example, a 4-room unit priced at $275,000 in Senja Gateway requires a monthly mortgage instalment of about $991. A family with a household income of $4,200 will be able to service this mortgage instalment using their CPF contributions and a small cash outlay of $25.
9 HDB will continue to ensure that there is an adequate supply of new flats to meet housing demand. In Aug 2010, flat buyers can look forward to the launch of about 1,400 flats in Yishun. More details will be provided at their launch.
10The BTO supply will be supplemented by the on-coming supply of 4,700 units under the Design, Build & Sell Scheme (DBSS) and Executive Condominium (EC) Scheme to provide choices for higher-income households:
- The Yishun DBSS site awarded in May 2010 has an estimated yield of 700 units;
- Another DBSS site at Tampines PH2, launched on 23 Jun 2010 for sale by public tender, has an estimated yield of 580 units;
- Two new DBSS sites in Bedok Reservoir and Upper Serangoon, to be launched later this year, will yield another 1,000 flats;
- Four EC sites in Sengkang, Yishun and Punggol yielding an estimate of 1,985 units had been awarded in 1H2010; and
- One EC site in Jurong with an estimated yield of 460 units was launched on 2 Jul 2010 with tender closing on 12 Aug 2010.
11HDB is prepared to launch more sites for DBSS development if there is sustained demand. There are also four sites in the pipeline for EC supply located in Punggol, Pasir Ris, Bukit Panjang and Tampines, expected to yield another 1,900 units.
Applications for the new flats can be submitted online from 29 Jul 2010 (Thursday) to 11 Aug 2010 (Wednesday). More details of the application procedures and BTO Exhibition can be found in Annex C
13For 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).
The design for this contract includes 190 units of Studio Apartments which will be set aside to meet the housing needs of elderly Singapore citizens at a later date. These SAs will not be offered for public sale at this launch.