HDB is launching 1,176 standard flats in a new BTO project today – Yishun Greenwalk. 95% of the flat supply will be set aside for First-Timer households. The details of the BTO flats offered in Yishun Greenwalk are in Annex A.
2With today’s launch, HDB would have offered a total of about 16,700 new flats for sale under the BTO and Sale of Balance Flat exercise since the start of 2010.
3 Yishun Greenwalk
(JPG 125KB), bounded by Yishun Ring Road, Yishun Avenue 6 and Yishun Avenue 9, is a standard contract comprising 112 units of 3-room, 602 units of 4-room and 462 units of 5-room flats. Facilities to be provided at this development are a mini-mart, an eating house, shops, a child care centre, an education centre and a Residents’ Committee Centre.
4Other facilities available in Yishun town to serve the future residents include 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 North View Primary and Secondary School, Khoo Teck Puat Hospital, Yishun Park, Yishun Pond and the SAFRA Yishun Country Club.
5New 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.
6In 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.
$150,000 to $186,000 for a 3-room flat;
$224,000 to $280,000 for a 4-room flat; and
$298,000 to $365,000 for a 5-room flat
The pricing details and resale comparables for Yishun Greenwalk are in Annexes A
(PDF 22KB) and B
9First-time flat buyers are estimated to use 21% to 24% of their monthly household income to meet their monthly loan payments for flats in Yishun Greenwalk. For example, a 4-room unit priced at $250,000 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.
10HDB will continue to ramp up its supply of new flats to meet housing demand. The total number of new flats offered under the BTO and Sale of Balance Flat exercises in 2010 will reach about 17,700. The next BTO launch in Dec 2010 will offer 1,010 flats in Punggol. More details will be provided at the launch.
11The BTO supply will be supplemented by the on-coming supply of flats/units under the Design, Build & Sell Scheme (DBSS) and Executive Condominium (EC) Scheme. Based on the land sales in 2010, there will be more than 3,000 DBSS units and 4,000 EC units. Developers have launched two Executive Condominiums (EC) projects, namely, Esparina Residences in Sengkang (573 units) and The Canopy in Yishun (406 units) in Oct 2010. More developments will be launched for sale later this year or next year.
Applications for the new flats can be submitted online from 18 Nov 2010 (Thursday) to 1 Dec 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).