HDB Launches 2 New Build-To-Order Projects in Mar 2010
 
Date issued : 16 Mar 2010



     HDB is launching two new BTO projects today - Fernvale Ridge (JPG 704KB) in Sengkang and Sembawang RiverLodge (JPG 477KB) in Sembawang. A total of 828 flats will be offered, comprising 266 units of 3-room, 436 units of 4-room and 126 units of 5-room flats. 95% of these flats will be set aside for First-Timers. The details of the flats offered in Fernvale Ridge and Sembawang RiverLodge are in Annexes A (PDF 20KB) & B (PDF 20KB)



    FERNVALE RIDGE


    2 Fernvale Ridge (PDF 717KB) will have 522 standard flats, comprising 180 units of 3-room, 216 units of 4-room and 126 units of 5-room flats. Bounded by Sengkang West Way and Fernvale Link, Fernvale Ridge is served by Fernvale, Layar and Thanggam LRT stations. The Tampines Expressway (TPE) provides connectivity to the rest of Singapore. Residents’ daily needs will be met by the wet market, supermarket, and food court at Fernvale Point, and eateries located at Jalan Kayu. There are also primary and secondary schools in the area.



    SEMBAWANG RIVERLODGE


    3 Sembawang RiverLodge (PDF 793KB) will offer 306 units for sale, comprising 86 units of 3-room and 220 units of 4-room flats. Located along Sembawang Drive, residents of this new precinct will be served by the public transport network such as buses and MRT (Sembawang MRT Station), as well as the various facilities and amenities at Sun Plaza, Sembawang Mart (a market cum commercial development along Canberra Road) and Sembawang Community Club. There are also primary and secondary schools in the area.


    4The design for this contract includes 126 units of 2-room flats. These 2-room flats will not be offered for public sale at this time, and will be set aside to meet the housing needs of lower income families at a later date.




    PRICING OF NEW FLATS AT SEMBAWANG RIVERLODGE AND FERNVALE RIDGE

    5To keep public housing affordable for first-time homebuyers, new HDB flats are priced below their equivalent market prices. The market prices take 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.


    6The selling prices for the flats (applicable to SC/SC households only) range from:


    Fernvale Ridge
      $128,000 to $171,000 for a 3-room flat;
      $216,000 to $271,000 for a 4-room flat; and
      $281,000 to $352,000 for a 5-room flat
        Sembawang RiverLodge
      $128,000 to $166,000 for a 3-room flat; and
      $212,000 to $268,000 for a 4-room flat

    7The pricing details and resale comparables for Fernvale Ridge and Sembawang RiverLodge are in Annexes A (PDF 20KB) & B (PDF 20KB)


    8Eligible first-timers with a monthly household income of $5,000 or less can apply for the Additional CPF Housing Grant (AHG) of up to $40,000, which can be used to offset the initial down-payment.


    9First-time flat buyers are estimated to use 20% to 21% of their monthly household income to meet their monthly loan payments for flats in Fernvale Ridge and Sembawang RiverLodge (details are in Annex B (PDF 20KB). In other words, most flat buyers will not require any cash outlay to service their monthly instalments. For example, a 4-room unit priced at $240,000 in Sembawang RiverLodge requires a monthly instalment of about $865. A family with a household income of $4,200 can service this fully from their CPF contributions without any cash outlay.



    UPCOMING SALES LAUNCHES


    10In Apr 10, flat buyers can look forward to another 1,200 BTO flats in Punggol. These launches are part of HDB's plan to offer at least 12,000 new BTO flats this year, or more if there is demand. The new BTO projects will be in various locations like Sembawang, Punggol, Sengkang, Yishun, Woodlands etc. With today’s launch at Fernvale Ridge and Sembawang RiverLodge, HDB would have offered a total of 3,653 units of new flats under the BTO in the first three months of this year.


    11The BTO supply will be supplemented by flats under the Design, Build and Sell Scheme (DBSS) as well as Executive Condominiums (EC) for the higher income buyers. Two EC sites in Sengkang and Yishun with an estimated yield of about 900 units have been tendered for land sale in Jan this year. In Mar/Apr 2010, HDB will tender out another land parcel along Yishun Avenue 11 for housing development under the DBSS with a potential yield of 700 flats. More details will be provided at the launch of tender for the site.



    REINFORCING THE PRIVILEGES OF CITIZENSHIP


    12As announced recently, to reinforce the privileges of citizenship and encourage SPRs to take up citizenship, first-timer households comprising a Singapore Citizen (SC) and a Singapore Permanent Resident (SPR), i.e. SC/SPR households, will have $10,000 of their housing subsidy withheld when they purchase a new HDB flat or a resale flat with the CPF Housing Grant. For new flats, they will have to pay a $10,000 premium on top of HDB’s selling price, with effect from the March 2010 BTO exercise. This withheld subsidy will be restored when the SPR family member takes up citizenship or if the couple has an SC child while still in ownership of that flat. Eligible households can apply to HDB within 6 months of the change in household citizenship status to claim the $10,000 Citizen Top-Up via CPF.



    APPLICATION PROCEDURE


    13Applications for the new flats can be submitted online from 16 Mar 2010 (Tuesday) to 29 Mar 2010 (Mon). More details of the application procedures and BTO Exhibition can be found in Annex C (PDF 17KB).



    ENQUIRIES


    14For enquiries, the public can:
        - E-mail hdbsales@hdb.gov.sg;
        - Call the Sales/Resale Customer Service Line at 1800-866 3066 on weekdays from 8 am to 5 pm; 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).