HDB is launching two new BTO projects today – Woodlands Dew
(PDF 248KB) and Woodlands Meadow
(PDF 255KB) in Woodlands
(PDF 1298KB). A total of 1,329 flats will be offered, comprising 330 units of 2-room, 220 units of 3-room, 569 units of 4-room and 210 units of 5-room flats. 95% of the public supply will be set aside for First-Timers. The details of the flats offered in Woodlands Dew and Woodlands Meadow are in Annex A
2With today’s launch, HDB would have offered a total of 14,200 new flats for sale under the BTO and Sale of Balance Flat exercises since the start of 2010.
3Woodlands Dew (i.e. Woodlands N7 C26), bounded by Woodlands Avenue 9 and Woodlands Crescent, is a standard contract with 789 units of new flats, comprising 330 units of 2-room flats, 145 units of 3-room flats and 314 units of 4-room flats. Facilities provided in this development are an eating house, a supermarket, shops and an education centre.
4Located diagonally across Woodlands Dew is Woodlands Meadow. This is also a standard contract with 540 units of new flats, comprising 75 units of 3-room, 255 units of 4-room and 210 units of 5-room flats. A Residents’ Committee Centre will be provided in this development.
5Both projects will be served by the wide range of facilities in the town, such as the Admiralty MRT station, Admiralty Place and Woodlands Mart (an HDB neighbourhood centre). There are also the educational and recreational facilities such as Admiralty Primary and Secondary School and Woodlands Crescent Park.
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 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.
8The selling prices for the flats range from:
$78,000 to $105,000 for a 2-room flat;
$139,000 to $168,000 for a 3-room flat; and
$224,000 to $280,000 for a 4-room flat
$136,000 to $168,000 for a 3-room flat;
$232,000 to $279,000 for a 4-room flat; and
$270,000 to $328,000 for a 5-room flat
The pricing details and resale comparables for Woodlands Dew and Woodlands Meadow are in Annexes A
(PDF 25KB) and B
First-time flat buyers are estimated to use 14% to 22% of their monthly household income to meet their monthly loan payments for flats in Woodlands Dew and Woodlands Meadow (details are in Annex B
(PDF 22KB)). For example, a 4-room unit priced at $250,000 in Woodlands Dew requires a monthly mortgage instalment of about $901. 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.
11HDB will continue to provide an adequate supply of new flats to meet housing demand. More than 16,000 new flats will be offered in 2010. BTO projects slated for Oct to Dec 2010 include areas such as Bukit Panjang, Punggol, Sengkang and Yishun. The next launch in Oct 2010 will offer about 1,320 flats in Bukit Panjang and Sengkang. More details will be provided at their launch.
12The BTO supply will be supplemented by the on-coming supply of about 4,600 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:
The DBSS site in Bedok Reservoir has an estimated yield of 430 units and tender will close on 2 Nov 2010.
13The land sales for another two DBSS sites and two EC sites are also in the pipeline. The DBSS sites, located in Upper Serangoon and Corporation Drive, are expected to yield about 1,200 units. The EC sites located in Bukit Panjang and Tampines are expected to yield about 1,100 units. HDB is prepared to launch more sites for development if there is sustained demand.
Applications for the new flats can be submitted online from 21 Sep 2010 (Tuesday) to 4 Oct 2010 (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).