HDB launches 2 new Build-To-Order projects
Date issued : 11 Feb 2010
2 Punggol Crest will have 750 standard flats, comprising 240 units of 2-room, 240 units of 3-room and 270 units of 4-room. Located along Punggol Place, it is served by the Punggol MRT, LRT stations, bus interchange, and the future Punggol Town Centre. The Tampines Expressway is a short drive away, offering good connectivity to the rest of Singapore. There are also primary and secondary schools in the area.
3 Treegrove @ Woodlands offers 784 premium flats, comprising 192 units of Studio Apartment, 220 units of 3-room and 372 units of 4-room flats. Conveniently located along Woodlands Avenue 7 and next to 888 Plaza, residents will enjoy easy access to a wide variety of goods and services at their doorstep. The Woodlands MRT station, Admiralty MRT station, Bus interchange, Seletar Expressway and Bukit Timah Expressway provide easy access to the rest of Singapore. There are also primary and secondary schools in the area.
HDB is launching two new BTO projects today, Punggol Crest in Punggol and Treegrove @ Woodlands in Woodlands, offering a total of 1,534 flats. The flat supply comprises 192 units of Studio Apartments, 240 units of 2-room, 460 units of 3-room and 642 units of 4-room flats. 95% of the 2-, 3- and 4-room flats will be set aside for First-Timers. Flat details for Punggol Crest and Treegrove @ Woodlands are in Annex A.
4 To 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.
5 The selling prices for the flats range from:
$90,000 to $114,000 for a 2-room flat;
$153,000 to $189,000 for a 3-room flat; and
$247,000 to $301,000 for a 4-room flat
Treegrove @ Woodlands
$64,000 to $89,000 for a Studio Apartment;
$141,000 to $175,000 for a 3-room flat; and
$228,000 to $288,000 for a 4-room flat
6 The pricing details and resale comparables for Punggol Crest and Treegrove @ Woodlands are in Annexes A and B.
7 In addition to enjoying a generous market subsidy on the selling price, eligible first-timers with an average monthly household income of $5,000 or less 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.
8 First-time flat buyers are expected to use 18% to 27% of their monthly household income to meet their monthly loan payments for flats in Punggol Crest and Treegrove @ Woodlands (details are in Annex B ). As such, most of the new flat buyers can service their loan payments fully using their monthly CPF contributions (i.e. 23% of income). For example, a 4-room unit priced at $260,000 in Treegrove @ Woodlands requires a monthly instalment of about $937. A family with a household income of $4,300 can service this fully from their CPF contributions without any cash outlay.
9 HDB will launch 12,000 new BTO flats this year, or more if there is demand. Launches will be scheduled monthly for the next few months. With today’s launch at Punggol Crest and Treegrove @ Woodlands, HDB would have offered a total of 2,825 units of new flats under the BTO in the first two months of this year.
10 In Mar 2010, flat buyers can look forward to another 1,000 BTO flats in Sembawang and Sengkang. In total, HDB is planning to offer about 7,000 BTO flats in 1H2010. The projects will have a good geographical spread over areas such as Punggol, Yishun and Jurong West. More details will be provided at their launch.
11 Applications for the new flats can be submitted online from 11 Feb 2010 (Thursday) to 24 Feb 2010 (Wednesday). More details of the application procedures and BTO Exhibition can be found in Annex C
12 For enquiries, the public can:
- E-mail firstname.lastname@example.org;
- 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).