HDB is launching three BTO projects today – Golden Daisy in Bukit Batok
(PDF 961KB), Orchid Spring @ Yishun and Vista Spring @ Yishun
(PDF 1355KB). A total of 1,728 standard flats will be offered, comprising 180 Studio Apartments, 192 units of 2-room, 252 units of 3-room, 828 units of 4-room and 276 units of 5-room flats. 95% of the flat supply (excluding Studio Apartments) will be set aside for First-Timer households. The details of the BTO flats offered in Golden Daisy, Orchid Spring @ Yishun and Vista Spring @ Yishun are in Annex A.
2 Golden Daisy
(PDF 321KB), located along Bukit Batok Street 21, will have 180 Studio Apartments. Residents will be well-served by the wide range of facilities in the town such as the Bukit Batok MRT Station, bus interchange, West Mall shopping centre, Bukit Batok East Point (an HDB neighbourhood centre) and Bukit Batok East Community Club. The Pan Island Expressway (PIE) offers good connectivity to the rest of Singapore.
3 Orchid Spring @ Yishun
(PDF 269KB), located along Yishun Avenue 11, is a standard contract with 948 units of new flats, comprising 192 units of 2-room, 252 units of 3-room and 504 units of 4-room flats. A child care centre will be provided in this precinct.
Adjacent to Orchid Spring @ Yishun and bounded by Yishun Avenue 1 and Yishun Street 41 is Vista Spring @ Yishun
(PDF 55KB), with 600 standard flats comprising 324 units of 4-room and 276 units of 5-room flats. Facilities to be provided in this development are an eating house, a mini-mart, shops and a Residents’ Committee Centre.
5Both projects will be served by the wide range of facilities in Yishun 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 the Northbrooks Secondary School, North View Primary and Secondary School, Khoo Teck Puat Hospital, Yishun Park and Yishun Pond.
6New HDB flats are priced with 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 prevailing market conditions.
7In addition, eligible first-timers buying 2-room and bigger new flats and 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.
8The selling prices for the flats range from:
$83,000 to $118,000 for a Studio Apartment
Orchid Spring @ Yishun and Vista Spring @ Yishun
$93,000 to $112,000 for a 2-room;
$150,000 to $183,000 for a 3-room flat;
$230,000 to $278,000 for a 4-room flat; and
$292,000 to $353,000 for a 5-room flat
The pricing details and resale comparables for Golden Daisy, Orchid Spring @ Yishun and Vista Spring @ Yishun are in Annexes A and B
10First-time flat buyers are estimated to use 19% to 23% of their monthly household income to meet their monthly loan payments for flats in Orchid Spring @ Yishun / Vista Spring @ Yishun. For example, a 4-room unit priced at $255,000 in Orchid Spring @ Yishun / Vista Spring @ Yishun requires a monthly mortgage instalment of about $919. A family with a household income of $4,100 will be able to service this mortgage instalment solely using their CPF contributions.
11HDB has ramped up its new flat supply significantly to meet the demand from first-timer households. In 2011, HDB has plans to offer up to 22,000 new flats under BTO, if demand is sustained. This is 24% more than the 17,700 flats launched for sale under BTO and Sale of Balance Flats Exercise in 2010. In the first six months of 2011, flat buyers can look forward to about 11,000 new BTO flats. These projects will have a good geographical spread in towns/estates such as Bukit Panjang, Jurong West, Punggol, Sengkang and Yishun. The next BTO launch in February 2011 will offer about 1,600 flats in Bukit Panjang and Sengkang. More details will be provided at the launch.
12The BTO supply will be supplemented by the housing units under the Design, Build & Sell Scheme (DBSS) and the Executive Condominium (EC) Housing Scheme. The land sales launched in 2010 will yield more than 3,000 DBSS flats and 4,000 EC units. Among them, the developers have launched a total of 1,659 units in three Executive Condominiums (EC) projects, namely, Esparina Residences in Sengkang (573 units), The Canopy in Yishun (406 units) and Privé in Punggol (680 units) for sale in 2010. Recently, another EC project, Austville Residences in Sengkang (540 units) has just been launched for sale by the private developer. The remaining projects will be launched for sale by the developers when ready.
13For 2011, based on the land sales scheduled, there will be about 4,000 DBSS flats and 4,000 EC units. In the first half of 2011, HDB will release for tender four sale sites under DBSS with a potential yield of about 2,700 flats. Under the Government Land Sales (GLS) Programme, HDB will also release four sale sites for EC developments with a potential yield of about 2,300 EC units in the first half of 2011.
Applications for the new flats can be submitted online from 25 Jan 2010 (Tuesday) to 7 Feb 2011 (Monday). More details of the application procedures and BTO Exhibition can be found in Annex C
15For enquiries, the public can:
- Log on to www.hdb.gov.sg/esales; or
- E-mail email@example.com; 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).