HDB Launches 992 Flats Under Balloting Exercise
 
Date issued : 26 Sep 2008




               HDB is launching the sale of 992 flats under the Balloting Exercise today. They include surplus flats available from the Selective En bloc Redevelopment Scheme (SERS) in Ang Mo Kio, Kallang/Whampoa, Queenstown and Jurong West and balance flats in The Pinnacle@Duxton (TP@D).

    2         The flat supply comprises 128 Studio Apartments (SAs) in Ang Mo Kio, 91 units of 3-room flats, 203 units of 4-room flats and 142 units of 5-room flats in Kallang/Whampoa, Queenstown and Jurong West as well as 317 units of S1 and 111 units of S2 flats in TP@D. See Annex 1 for details.

    VARIOUS CHOICES AVAILABLE


    3         The flats offered are of different types, designs and locations and can suit the different needs, preferences and budget of flat buyers.

    4         As buying a flat is a long-term commitment, flat buyers are advised to exercise financial prudence and buy a flat that they can afford. Buyers looking for more affordable options can consider the flats at Jurong West, where prices of 3-room and 4-room flats range from $142,000 to $160,000 and $213,000 to $253,000 respectively.

    5         428 units from Singapore’s first iconic 50-storey public housing project, TP@D, will also be offered under this exercise. TP@D boasts an internationally award-winning design, with sky bridges linking its seven tower blocks and sky gardens at the 26th and 50th storeys and plug-ins like planters, balconies, bay windows and extended bays. The flat prices range from $457,000 to $555,000 for S1 flats and $545,000 to $646,000 for S2 flats. This is in line with the project’s prevailing market value, reflecting its prime location in the city, its accessibility, and design attributes. As HDB sells new flats at a discount to the market, the prices of these flats are lower compared to the market prices of resale flats in the vicinity. For example, resale prices of 4-room flats at Cantonment Close, Tanjong Pagar and Jalan Membina range from $465,000 to $560,000 while that of 5-room flats range from $593,000 to $670,000 (see Annex 2 for resale comparables in the vicinity).

    6         Buyers who do not find a flat of their choice in this BE can consider applying for a new flat under the Build-to-Order (BTO) exercises in future. The BTO is the mainstay of HDB’s new flat supply. Alternatively, they can also consider buying a resale flat where there is a range of choices in terms of budget and location. Eligible first time flat buyers can enjoy CPF Housing Grant of up to $40,000 to buy a resale flat.

    EXHIBITION AND SAMPLE UNITS


    7         An exhibition will be held at the Habitat Forum, HDB Hub, where marketing panels and 3D models of the contracts will be on display to provide interested buyers with more information on the flats.

    8         Interested buyers can also view a selection of 3 unfurnished on-site sample units to obtain a better appreciation of the flats on offer. The sample units are also available for sale in this exercise. More information on the exhibition and sample units can be found in Annex 3.

    APPLICATION PROCEDURES


    9         Applications for the new flats can be submitted online from 26 Sep 2008 (Fri) to 9 Oct 2008 (Thurs). More details of the application procedures can be found at Annex 4.

    ENQUIRIES


    10         For 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).
ANNEX 1

    LOCATION AND NUMBER OF FLATS UNDER SEP 08 BALLOTING EXERCISE

    Table 1: Flat Supply in Sep 08 BE
    Town
    Contract
    SA
    3R
    4R
    5R
    S1
    S2
    Total
    Ang Mo Kio
    (Teck Ghee Vista)
    N3 RC 10
    128
    -
    -
    -
    -
    -
    128
    Kallang/Whampoa
    (Kallang Heights#)
    N3 RC 24
    -
    -
    39
    64
    -
    -
    103
    Queenstown
    N1 RC 17
    -
    -
    -
    48
    -
    -
    48
    Jurong West#
    N3 C30A
    -
    -
    59
    1
    -
    -
    60
    N3 C30B
    -
    91
    105
    29
    -
    -
    225
    Central
    (The Pinnacle @ Duxton)
    N3 C6
    -
    -
    -
    -
    317
    111
    428
    Total
    128
    91
    203
    142
    317
    111
    992


    Table 2: Ethnic Quota of Flats for Sale in Sep 08 BE
    Town
    Flat Type
    Total Units
    Malay
    Chinese
    Indian/Others
    Ang Mo Kio
    (Teck Ghee Vista)
    SA
    128
    31
    116
    16
    Kallang Whampoa
    (Kallang Heights#)
    4-room
    39
    39
    20
    39
    5-room
    64
    64
    50
    46
    Queenstown
    5-room
    48
    20
    42
    8
    Jurong West#
    3-room
    91
    29
    91
    22
    4-room
    164
    87
    160
    43
    5-room
    30
    9
    27
    6
    Central
    (The Pinnacle @ Duxton)
    S1
    317
    310
    200
    132
    S2
    111
    111
    72
    54
    Total
    992
    700
    778
    366

    Notes:
    # Completed Flats

ANNEX 2

    Resale comparables for The Pinnacle@Duxton


    Resale Comparables for The Pinnacle @ Duxton (S1)
    Flat Type
    Block
    Street Name
    Storey
    Floor Area (sm)
    Lease Commencement
    Resale Price
    Resale Price
    ($psm)
    Resale Approval Date
    4R
    7
    		Tg Pagar Plaza
    21 to 25
    83
    1980
    $520,000
    $6,265
    Jun-08
    4R
    8
    		Cantonment Cl
    01 to 05
    90
    2002
    $465,000
    $5,167
    Jun-08
    4R
    11
    		Cantonment Cl
    06 to 10
    90
    2002
    $470,000
    $5,222
    Jun-08
    4R
    16
    		Cantonment Cl
    26 to 30
    90
    2003
    $502,500
    $5,583
    Jun-08
    4R
    17
    		Cantonment Cl
    21 to 25
    90
    2003
    $488,000
    $5,422
    Jul-08
    4R
    18
    		Cantonment Cl
    11 to 15
    90
    2002
    $470,000
    $5,222
    Jul-08
    4R
    18
    		Cantonment Cl
    11 to 15
    90
    2002
    $500,000
    $5,556
    Jun-08
    4R
    19
    		Cantonment Cl
    16 to 20
    90
    2002
    $511,000
    $5,678
    Jun-08
    4R
    18
    		Cantonment Cl
    11 to 15
    90
    2002
    $505,000
    $5,611
    Sep-08
    4R
    19
    		Jln Membina
    06 to 10
    90
    2003
    $530,000
    $5,889
    Sep-08
    4R
    20
    		Jln Membina
    21 to 25
    90
    2003
    $510,000
    $5,667
    Jun-08
    4R
    21
    		Jln Membina
    11 to 15
    90
    2003
    $520,000
    $5,778
    Aug-08
    4R
    21
    		Jln Membina
    21 to 25
    90
    2003
    $560,000
    $6,222
    Jul-08
    4R
    118B
    		Jln Membina
    06 to 10
    91
    2003
    $515,000
    $5,659
    Jul-08
    4R
    118C
    		Jln Membina
    11 to 15
    91
    2003
    $518,000
    $5,692
    Jul-08
    4R
    118C
    		Jln Membina
    21 to 25
    85
    2003
    $493,000
    $5,800
    Jun-08
    4R
    118D
    		Jln Membina
    11 to 15
    91
    2003
    $530,000
    $5,824
    Aug-08
    4R
    118D
    		Jln Membina
    11 to 15
    91
    2003
    $545,000
    $5,989
    Jul-08
    4R
    118D
    		Jln Membina
    21 to 25
    90
    2003
    $550,000
    $6,111
    Jul-08
    4R
    118D
    		Jln Membina
    06 to 10
    91
    2003
    $500,000
    $5,495
    Jun-08
    4R
    118D
    		Jln Membina
    01 to 05
    90
    2003
    $475,000
    $5,278
    Jun-08
    4R
    118D
    		Jln Membina
    21 to 25
    92
    2003
    $510,000
    $5,543
    Jun-08
    Average
    $508,523
    $5,667
      Note: Extracted from HDB InfoWEB on 22 Sep 08

    Resale Comparables for The Pinnacle @ Duxton (S2)
    Flat Type
    Block
    Street Name
    Storey
    Floor Area (sm)
    Lease Commencement
    Resale Price
    Resale Price
    ($psm)
    Resale Approval Date
    5R
    8
    		Cantonment Cl
    11 to 15
    110
    2002
    $610,000
    $5,545
    Aug-08
    5R
    16
    		Cantonment Cl
    16 to 20
    110
    2003
    $635,000
    $5,773
    Jul-08
    5R
    17
    		Cantonment Cl
    06 to 10
    110
    2003
    $625,000
    $5,682
    Sep-08
    5R
    17
    		Cantonment Cl
    11 to 15
    110
    2003
    $601,000
    $5,464
    Jul-08
    5R
    19
    		Jln Membina
    01 to 05
    110
    2003
    $610,000
    $5,545
    Sep-08
    5R
    19
    		Jln Membina
    06 to 10
    110
    2003
    $630,000
    $5,727
    Jul-08
    5R
    118B
    		Jln Membina
    01 to 05
    110
    2003
    $593,000
    $5,391
    Aug-08
    5R
    118B
    		Jln Membina
    21 to 25
    110
    2003
    $670,000
    $6,091
    Jul-08
    5R
    118B
    		Jln Membina
    16 to 20
    110
    2003
    $648,000
    $5,891
    Jun-08
    5R
    118C
    		Jln Membina
    06 to 10
    110
    2003
    $618,000
    $5,618
    Sep-08
    Average
    $624,000
    $5,673
      Note: Extracted from HDB InfoWEB on 22 Sep 08

ANNEX 3
    DETAILS OF SAMPLE UNITS FOR VIEWING

    Open daily till 8 Oct 08, 10 am to 6 pm.


    S/N
    Contract
    Block
    Street Name
    Unit No.
    Unit Type
    01
    		Kallang Heights
    (KWN N3 RC24)
    3A
    		Upper Boon Keng Road#04-6004-room (Standard)
    02
    3A
    		Upper Boon Keng Road#04-6065-room (Standard)
    03
    		Jurong West
    N3 C30A
    338A
    		Tah Ching Road#06-274-room (Standard)




    BE EXHIBITION


    Location : Habitat Forum, BizFour, 3rd Storey, HDB Hub

    Exhibition period : 26 Sep to 9 Oct 2008

    Opening hours : 8 am to 5 pm (Weekdays)
    8 am to 1 pm (Saturday)
    Closed on Public Holidays and Sundays


ANNEX 4
    APPLICATION PROCEDURE


    Submission of Application


             Households interested in buying a flat can submit their application online at HDB’s InfoWEB at www.hdb.gov.sg from 26 Sep 08 (Fri) to 9 Oct 08 (Thurs). The administrative fee of $10 is payable by cashcard or credit card (Master Card / Visa). Those without internet access can visit HDB Hub or any of HDB’s Branch Offices to submit their application (via the e-Stations or Internet PCs that are available for use).

    2         Each household is only allowed to submit one application for the Sep 08 BE and must indicate the flat type and town that they are applying for.

    3         With effect from the May 08 BTO sales exercise, HDB had retained the particulars of applicants participating in all HDB sales exercises. Applicants submitting applications for subsequent HDB sales exercises do not need to submit their full application details. They only need to extract the information using their SingPass or SPIN number, and update changes to their particulars submitted previously, if any.

    Eligibility Conditions


    4         There are different terms and conditions for the purchase of the Studio Apartments (SAs), 3-room and 4-room/5-room/S1/S2 flats. (The eligibility conditions for purchase of SAs are stated in Appendix 1). The monthly household income ceiling for the purchase of 3-room flats is $3,000 while the monthly income ceiling for Studio Apartments (SAs) and 4-room/5-room/S1/S2 flats is $8,000. In addition, applicants must also satisfy the other eligibility conditions such as citizenship, non-ownership of private property etc.

    5         Eligible first-timer households (except for those applying for SAs) can also apply for the Additional CPF Housing Grant (AHG) of up to $30,000. To qualify, the applicant(s) must have been in continuous employment over the past 24 months at the point of flat application, and have an average gross monthly household income of $4,000 or less over the same period.

    Priority Schemes


    6         Applicants who meet the conditions of the Third Child Priority Scheme (TCPS), Married Child Priority Scheme (MCPS) or Tenants’ Priority Scheme (for 3-room flat applicants only) can request for priority allocation under these schemes. Applications under the Resettlement/Relocation (REN/RH) and Grassroots Organisation (GRO) Schemes require recommendations from the appropriate authorities managing the schemes.

    7         For the SAs, which are sold under terms and conditions slightly different from normal HDB flats, priority allocation is only given to GRO, REN/RH, and MCPS.

    8         At least 90% of the flat supply (excluding SAs) will be set aside for First-Timers. However, no additional chances will be accorded for unsuccessful First-Timers when they participate in BE.

    Selection of Flats


    9         A computer ballot will be conducted to determine the queue position of eligible applicants. Applicants will be informed of the ballot results in end-Nov 08.

    10         The selection exercise will commence from Jan 09. Applicants can only select a flat according to the flat-type and town that they applied for. An option fee of $250, $1,000 or $2,000 is payable upon selection of an SA, 3-room or 4-room/5-room/S1/S2 flat respectively and can be paid by cash/cheque/NETS.

    11         Applicants with queue numbers exceeding the flat supply can check the availability of flats on the HDB InfoWeb or via teletext. Selection of flats by those applicants with queue numbers exceeding the flat supply would be subject to availability of supply and ethnic quota when their turns are due.

    12         With effect from May 2008 BTO exercise, First-Timer applicants who reject 2 chances to select a flat in BTO/BE exercises will have their First-Timer priorities removed for a 1-year period from HDB’s sales exercise.


Appendix 1

    Main Eligibility Conditions for Purchase of Studio Apartments & Key Conditions of Sale/ Lease Administration


    (A) Eligibility conditions


    (i) Age / Citizenship
    • The main applicant must be a Singapore Citizen (SC) and at least 55 years old at the time of application.
    • Co-applicant(s), if any, who are the main applicant's spouse, parents, siblings or children must be:
        * SCs or Singapore Permanent Residents (SPRs) and
        * At least 21 years old at the time of application.
    • Co-applicant(s) other than those listed above must be:
        * SCs and
        * At least 35 years old at the time of application.

    (ii) Family Nucleus
    • An applicant who is unmarried, divorced or widowed may apply for an SA on his own. If he is married, he must include his spouse in his application.

    (iii) Income Ceiling
    • The total gross income of all persons listed in the application must not exceed $8,000 a month at the time of application.

    (iv) Ownership/ Share in property
        Owner of HDB flat
          • If the applicant currently owns or has a share in an HDB flat, whether bought direct from the HDB or from the open market, he may apply or be listed as an occupier in the SA application. However, he will have to dispose of his share in the flat within 6 months from the date of taking possession of the SA. Otherwise, he will have to surrender the SA to the HDB and forfeit a sum equivalent to 5% of the purchase price and/or any other amount as determined by the HDB.
            • The sale of his current flat in the open market is subject to the HDB's approval and resale policies, rules and regulations at the time of sale.
              Owner of Private Property
              • If the applicant currently owns or has a share in a private property, he may still apply for an SA or be listed as an occupier in the application for an SA. However, the disposal of interest in the private property must be finalised before he takes possession of the SA. If he fails to do so, his application will be cancelled, and the option fee and/or any other amount as determined by the HDB will be forfeited.

            (v) Time Bar
            • If the applicant is the current owner or ex-owner of a flat bought direct from the HDB, under the Sale of Flats to Sitting Tenants Scheme, or a resale flat under the CPF Housing Grant Scheme, he may apply to buy a SA provided he has satisfied a minimum occupation period of 5 years (excluding any period of subletting of the whole flat), computed from the date of purchase of that flat to the date of submission of SA application.
            • If there are more than one applicant owning HDB flats, only the applicant who is an SC aged 55 years or above needs to have satisfied the 5-year occupation period.

            (vi) Use of CPF
            • An applicant aged at least 55 years old may use his CPF to buy an SA after he has set aside the full cash component of his Minimum Sum. The SA would then be pledged for the amount of CPF used, up to the maximum pledge allowed under the Minimum Sum Scheme.

            (B) Tenure

            The SA is sold on a 30-year lease from the date of taking possession with an option to extend for another 10 years, subject to HDB’s approval.

            C) Lease Administration Conditions

            (i) The SA cannot be sold in the open market. It must be returned to HDB if the owner no longer wishes to live in it or becomes ineligible to do so. If the SA is returned to HDB, HDB will pay, at its absolute discretion, a pro-rated sum of the original selling price based on the remaining lease of the SA.

            (ii) An owner or ex-owner of an SA is not eligible to apply for an SA again

            (iii) An owner or ex-owner of an SA, who has previously bought a flat either direct from HDB, or under the Sale of Flats to Sitting Tenants Scheme, or bought from the open market under the CPF Housing Grant Scheme, is not allowed to apply for such flats again or rent an HDB flat.
              (iv) An owner of an SA may be allowed to invest in private property if he has physically occupied the SA for at least five years. He will have to continue living in the SA after the purchase of the private property.

              (v) An owner or ex-owner of an SA, who has never sold any flat bought either direct from HDB, or under the Sale of Flats to Sitting Tenants Scheme, or bought from the open market under the CPF Housing Grant Scheme, will have to fulfil the 5-year time bar from the date of purchase of the SA before he can apply for another flat from HDB
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