HDB is launching 1,010 standard flats in a new BTO project today – Punggol Topaz
(JPG 631KB). 95% of the flat supply will be set aside for First-Timer households. The details of the BTO flats offered in Punggol Topaz are in Annex A
2With today’s launch, HDB would have offered a total of 17,713 new flats for sale under the BTO and Sale of Balance Flat exercise in 2010.
3 Punggol Topaz
(PDF 2440KB), located along Punggol Way and Punggol Field, is a standard contract comprising 184 units of 3-room, 542 units of 4-room and 284 units of 5-room flats. Facilities to be provided at this development include a supermarket, an eating house, shops, a child care centre, and a Residents’ Committee Centre.
4Other facilities available in Punggol town to serve the future residents include the nearby Punggol MRT/LRT station, bus interchange, and the future town centre. The Tampines Expressway (TPE) and Kallang-Paya Lebar Expressway (KPE) are a short drive away, offering good connectivity to the rest of Singapore.
5In line with HDB’s plans to develop Punggol as an Eco-Town, Punggol Topaz is designed for Green Mark Certification, with eco-friendly features. The blocks and units layouts are oriented to minimize heat gain from the western sun. It is designed with ecologically friendly features such as dry ponds and rain gardens that help to maintain the quality of surface runoff from rainwater prior to discharge into the drainage system.
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:
$166,000 to $207,000 for a 3-room flat;
$267,000 to $329,000 for a 4-room flat; and
$335,000 to $406,000 for a 5-room flat
The pricing details and resale comparables for Punggol Topaz are in Annexes A
(PDF 12KB)and B
10First-time flat buyers are estimated to use 24% to 26% of their monthly household income to meet their monthly loan payments for flats in Punggol Topaz. For example, a 4-room unit priced at $300,000 requires a monthly mortgage instalment of about $1,081. A family with a household income of $4,100 will be able to service this mortgage instalment using their CPF contributions and a cash outlay of $138.
11In 2011, HDB is prepared to launch up to 22,000 new BTO flats, if demand is sustained. In 1Q2011, HDB will launch about 5,000 BTO flats. These BTO flats will have a good geographical spread in towns/estates such as Bukit Panjang, Jurong West, Yishun and Sengkang, etc. The next BTO launch in January 2011 will offer 1,700 flats in Bukit Batok and Yishun. More details will be provided at the launch.
12The BTO supply is 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 scheduled for 2010, there will be more than 3,000 DBSS flats and 4,000 EC units. To date, developers have launched three Executive Condominiums (EC) projects, namely, Esparina Residences in Sengkang (573 units), The Canopy in Yishun (406 units) and Privé in Punggol (680 units) for sale. More developments will be launched for sale next year.
Applications for the new flats can be submitted online from 22 Dec 2010 (Wednesday) to 4 Jan 2011 (Tuesday). More details of the application procedures and BTO Exhibition can be found in Annex C
14For enquiries, the public can:
- Log on to www.hdb.gov.sg/esales
- E-mail email@example.com
- 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).