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HDB Launches 4,989 Flats in August 2021 BTO Exercise
HDB launched 4,989 flats for sale today, under the August 2021 Build-to-Order (BTO) exercise. The flats on offer are spread across seven projects in Hougang, Jurong East, Kallang Whampoa, Queenstown and Tampines.
2 Given the strong demand for housing, especially in mature estates, HDB has been building more new flats in mature estates in recent years, to provide options for flat buyers wishing to stay near their family members living in these estates for better mutual care and support. In this latest BTO launch, we will offer flats in the mature estates of Kallang Whampoa, Queenstown, and Tampines. HDB’s Chief Executive Officer, Mr Tan Meng Dui said, “To meet the strong housing demand, HDB is launching almost 5,000 new flats in the August 2021 BTO exercise, with more than half located in mature estates. Notwithstanding the delays of BTO projects under construction, HDB remains committed to provide a steady supply of new HDB flats to meet future housing needs. We are also working hard with our industry partners and relevant agencies to keep ongoing BTO projects on track, amidst the difficult challenges facing the construction industry.”
3 A wide selection of flats, ranging from 2-room Flexi to 5-room flats, is offered to meet the diverse housing needs of first-timers, second-timer families, seniors and singles. Further details can be found in Annex A1.
Flats Priced with Generous Subsidy
4 The new flats are priced with a generous subsidy, taking into account factors such as location, flat attributes and prevailing market conditions. Hence, their prices are considerably lower than the transacted prices of comparable resale flats nearby. For 2-room Flexi flats, their prices further take into account the length of lease chosen, as shown in Annex A2.
5 Eligible first-timer families can also benefit from the Enhanced CPF Housing Grant (EHG) of up to $80,000. With EHG, flat buyers will pay prices starting from $28,000 for a 2-room Flexi flat, $124,000 for a 3-room flat, $264,000 for a 4-room flat, and $347,000 for a 5-room flat (see Table 1 for the BTO flat prices and the comparable resale prices).
Table 1: Flat Prices in August 2021 BTO Exercise
Hougang Citrine ~
Toh Guan Grove
Note: Selling prices are rounded up to the nearest thousand dollars.
^ Unless otherwise stated, the starting prices of the flats are based on 99-year leases. For illustration purposes, the assumed EHG amounts are:
i) 2-room Flexi flat: $80,000
ii) 3-room flat: $75,000 in non-mature towns and $60,000 in mature towns
iii) 4-room flat: $60,000 in non-mature towns and $45,000 in mature towns
iv) 5-room flat: $45,000 in non-mature towns and $30,000 in mature towns
The starting prices after grant amounts are illustrative, assuming that the household incomes of eligible first-time buyers of flats in the mature towns are higher. The actual grant amount received will depend on the buyers’ income and eligibility. Read more on EHG in HDB InfoWEB.
~ Prices include the costs of floor finishes, internal doors and sanitary fittings.
# Details on the comparable resale flats can be found on the HDB Flat Portal. In making comparison, please take into account the differences in attributes between the comparable resale flats and the BTO flats.
^^ Singles who apply for a 2-room Flexi flat under the Single Singapore Citizen (SSC) Scheme will pay $15,000 more than married couples. Eligible singles can also apply for the EHG of up to $40,000. The actual grant amounts will vary according to income.
6 Applications for the flats launched in the August 2021 BTO exercise can be made online on HDB InfoWEB from today, 11 August 2021 (Wednesday) to 17 August 2021 (Tuesday). Applicants can apply for only one flat type/category in one town under the BTO exercise.
7 Applicants who wish to take up an HDB housing loan for their flat purchase need to produce a valid HDB Loan Eligibility (HLE) letter when they book a flat, except for young couples who are eligible for deferment of income assessment. The HLE letter will indicate the loan amount based on applicants’ individual financial situation. All applicants are encouraged to apply for an HLE letter early, at www.hdb.gov.sg/hleapply, so that they can book a flat within their budget.
8 All the information on the BTO flats on offer is available on the HDB InfoWEB, and members of the public have 7 days to make an application online. There is no need to visit HDB Hub to get the information or make an application. Applicants without internet access may seek support from their family members. Those who need further assistance, such as seniors without family support, may call the HDB Sales/Resale Customer Service Line at 1800 - 866 3066 for help.
9 HDB will shortlist applicants using a computer ballot, and not on a first-come-first-served basis. There is therefore no need to rush to apply online at HDB InfoWEB within the first few hours or even first few days of the application window. The number of applications received will also be updated regularly on the HDB InfoWEB. Applicants are advised to apply for flats with lower application rates for better chances of success. More details on the application procedures can be found in Annex B.
10 Flat buyers are advised to take the estimated project completion timelines into consideration before applying for a flat. The implementation of necessary safe management measures at construction sites arising from the COVID-19 pandemic has led to some slow-down in construction progress. In addition, projects with challenging site conditions, more complex designs, large number of dwelling uinits or storeys may take longer than usual to complete.
11 For the BTO projects launched in August 2021, the waiting times range from 37 to 67 months, or about 3 to 5.5 years, with a median waiting time of just over 4 years. This is close to the range of 3 to around 5 years for the waiting times of BTO projects launched in the past year, excluding shorter waiting time flats which have waiting times that are less than 3 years. Queen’s Arc in Queenstown, with the longest waiting time at 67 months, is an exception. This is mainly due to the additional preparation works required for the site as well as the design of the project – one of the residential blocks within the project, at 39 storeys high, is taller than most of the other BTO projects. Hence, a longer construction time is required for this project.
12 Those who are in urgent need of housing may consider buying a resale flat instead where first-time buyers may enjoy up to $160,000 in housing grants.
13 Come November 2021, HDB will offer about 4,400 BTO flats in towns/estates such as Choa Chu Kang, Hougang, Jurong West, Kallang Whampoa and Tengah. The projects are still under review, and more details will be announced when ready. Including the projects to be offered in November, HDB is on track to launch about 17,000 BTO flats in 2021. This is higher than the 14,600 and 16,800 flats launched in 2019 and 2020, respectively, and will be supplemented by the balance flats which are offered via the SBF exercises and open booking.
14 In February 2022, HDB will offer about 2,000 to 3,000 BTO flats in towns/estates such as Geylang, Tengah and Yishun. This number is subject to review as more project details will be firmed up closer to the launch date. More information on the BTO flats is available on the HDB InfoWEB. HDB will continue to monitor the housing demand and make adjustments where necessary.