HDB Launches Largest Batch Of Build-To-Order (BTO) Flats
 
Date issued : 30 Jun 2010

 HDB is launching three new BTO projects today – Waterway Terraces (水滨台) (JPG 288KB) in Punggol, (PDF 587KB) Fernvale Foliage (JPG 207KB) and Rivervale Arc (JPG 159KB) in Sengkang. (PDF 592KB)

2This is the largest number of BTO flats offered in a single launch so far. A total of 2,696 flats will be offered, comprising 238 units of 2-room, 399 units of 3-room, 1,585 units of 4-room and 474 units of 5-room flats. 95% of the public supply will be set aside for First-Timers. The details of the flats offered in the three BTO projects are in Annex A (PDF 77KB).


3With today’s launch, HDB would have offered a total of 8,828 new BTO flats for sale in the first six months of this year. This is equivalent to the BTO supply for the whole of 2009.



WATERWAY TERRACES (水滨台)


4Waterway Terraces (水滨台) is the award-winning “First Waterfront Housing” project designed by Group8asia and Aedas along the Punggol Waterway. It offers 1,072 premium flats, comprising 178 units of 3-room, 588 units of 4-room and 306 units of 5-room flats.


5Bounded by Punggol Way, Punggol Central and Punggol Walk, it is near the Punggol MRT, bus interchange and the future Punggol Town Centre. Facilities include a child care centre, student care centre, Residents’ Committee centre, education centre, eating house, supermarket and shops. There are also primary and secondary schools in the area. The Tampines Expressway (TPE), a short drive away, offers good connectivity to the rest of Singapore.


6In line with HDB’s plans to develop Punggol as an Eco-Town, Waterway Terraces (水滨台) is designed with eco-friendly features. Waterway Terraces (水滨台) was conferred the Green Mark (Platinum) Award for its eco features which include:

      • Fašade design which minimises heat gain;
      • Use of solar power to supplement lighting needs in common areas;
      • Provision of separate recyclable refuse chute for easy recycling;
      • On-site compost bin for depositing of garden waste for decomposition; and
      • Installation of rain gardens to clean rain and runoff water prior to discharge into the waterway.


FERNVALE FOLIAGE


7Fernvale Foliage offers 504 standard flats, comprising 336 units of 4-room and 168 units of 5-room flats. Located along Sengkang West Way, it is conveniently located near Fernvale and Thanggam LRT stations connecting to Sengkang MRT station. The Tampines Expressway (TPE) is also a short drive away. Residents’ daily needs will be met by the wet market, supermarket, and food court at Fernvale Point, and eateries located at Jalan Kayu. There are also schools in the area.



RIVERVALE ARC


8Rivervale Arc offers 1,120 standard flats, comprising 238 units of 2-room, 221 units of 3-room and 661 units of 4-room flats. It is located along Rivervale Crescent and Sengkang East Drive, within walking distance from Rumbia LRT Station. The Tampines Expressway (TPE) is a short drive away. The residents’ daily needs are catered for at the Rivervale Mall and Rivervale Plaza. There are also schools in the area.



PRICING OF NEW FLATS AT WATERWAY TERRACES (水滨台), FERNVALE FOLIAGE AND RIVERVALE ARC


9New HDB flats are priced with a generous subsidy below their 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. In 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.


10To cater to households with different incomes, HDB is offering various types of flats with a wide range of selling prices:

i)
Waterway Terraces (水滨台) is an award-winning development that caters to flat buyers who are prepared to pay more for the special designs and the unique experience of eco-friendly living by the waterway. The prices of these premium flats start from $186,000, $300,000 and $374,000 for 3-room, 4-room and 5-room flats respectively. This is a unique project intended to provide diversity and to inject character into the area.

ii)
Flat buyers with lower budgets can consider the standard flats at Fernvale Foliage and Rivervale Arc, where prices start from $68,000, $122,000, $201,000 and $279,000 for 2-room, 3-room, 4-room and 5-room flats respectively.

11The pricing details and resale comparables for Waterway Terraces (水滨台), Fernvale Foliage and Rivervale Arc are in Annexes A (PDF 77KB) and B (PDF 56KB).


12First-time flat buyers for 4-room flats in these 3 projects are estimated to use 20% to 29% of their monthly household income to meet their monthly loan payments for flats. For example, a 4-room unit at $230,000 in Rivervale Arc requires a monthly mortgage instalment of about $829. A family with a household income of $4,200 will be able to service this mortgage instalment using their CPF contributions without requiring any cash outlay.



UPCOMING SALES LAUNCHES


13To ensure an adequate supply of new flats, HDB plans to launch at least 12,000 new BTO flats by Sep 2010, and more if there is demand. The upcoming projects will have a good geographical spread, covering areas such as Bukit Panjang, Jurong West, Yishun and Woodlands.


14In Jul 2010, flat buyers can look forward to the launch of about 1,000 BTO flats in Bukit Panjang and Jurong West. More details will be provided at their launch.


15The BTO supply is supplemented by the on-coming supply of flats under the Design, Build & Sell Scheme (DBSS):

      • The Yishun DBSS site awarded in May 2010 has an estimated yield of 700 units;
      • Another DBSS site at Tampines PH2, launched last week for sale by public tender, has an estimated yield of 580 units; and
      • Two new DBSS sites in Bedok Reservoir and Upper Serangoon, to be launched later this year, will yield another 1,000 flats.

16Households with monthly incomes of not more than $10,000 can look forward to more Executive Condominium (EC) units for sale by private developers. Starting in Mar 2010, HDB has awarded tenders for four EC housing sites in Sengkang, Yishun and Punggol with a combined yield of about 2,000 units. Announced as part of the 2H2010 Government Land Sale Programme, another five EC sites in Jurong West, Punggol, Pasir Ris, Bukit Panjang and Tampines, with a combined yield of 2,360 will be put up for sale by public tender later this year.




ESTIMATED COMPLETION DATES


17The estimated completion dates of the new flats are as follows:


BTO Project
Estimated Completion Date
Waterway Terraces (水滨台)
1Q 2015*
Fernvale Foliage
2Q 2014
Rivervale Arc
1Q 2014
        Note: * ECD for Waterway Terraces (水滨台) is later than the two Sengkang projects due to site condition, unique block layout and special design features such as curvy facade, roof terraces, rain garden, etc.

    APPLICATION PROCEDURE


    18Applications for the new flats can be submitted online from 30 Jun 2010 (Wednesday), 4.00 pm to 13 Jul 2010 (Tuesday). More details of the application procedures and BTO Exhibition can be found in Annex C (PDF 64KB).



    ENQUIRIES


    19For enquiries, the public can:
        - Log on to www.hdb.gov.sg/eSales; or
        - E-mail hdbsales@hdb.gov.sg; 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).