HDB Launches 4,170 Flats in First BTO Exercise of 2016
Today, HDB launched 4,170 new flats for sale under the February 2016 Build-To-Order (BTO) exercise. Spread across three projects located in the non-mature towns of Bukit Batok and Sengkang, and the mature estate of Bidadari, they make up the first tranche of 18,000 flats to be launched in 2016.
2 A wide range of flats, comprising 2-room Flexi to Three-Generation (3Gen) flats, will be offered in this BTO exercise to meet the housing needs of first-timers, second-timers, multi-generation families, elderly and singles. Further details can be found in Annex A.
3 Eligible first-timer families can enjoy up to $80,000 of housing grants, comprising the Additional CPF Housing Grant (AHG) (up to $40,000) and the Special CPF Housing Grant (SHG) (up to $40,000). With these grants, buyers of 2-room Flexi, 3-room, 4-room and 5-room flats pay as little as $4,0001, $93,000, $211,000 and $314,000 respectively.
4 New HDB flats are priced with a generous subsidy, taking into account factors such as location, flat attributes and prevailing market conditions. HDB’s prices are considerably lower than transacted prices of comparable resale flats in the vicinity (see Table 1 for the BTO prices and the comparable resale prices).
Table 1: February 2016 BTO Prices
West Plains @
* Come in two sizes of 36 sqm (Type 1) and 45 sqm (Type 2).
^ The assumed housing grants are meant for applicants applying as a family nucleus or two singles under the Joint Singles Scheme for a 2-room Flexi BTO flat. SHG is applicable only to 2-room Flexi, 3-room and 4-room flats in the non-mature towns. With the SHG enhancement announced at NDR 2015, eligible first-time flat buyers with income up to $8,500 would now enjoy SHG of up to $40,000:
The actual grant amounts vary based on income and choice of flat type. Read more on various CPF Housing Grants available.
+ Buyers are required to pay at least 5% of the published price using their own CPF and/or cash savings when the total housing grants (i.e. AHG and SHG) that they are eligible for exceed 95% of the published price of flat. Excess housing grants, if any, can be used to pay for OCS items and premiums that singles and Singapore Citizen/Singapore Permanent Resident households have to pay, before they are credited into the Singaporean buyer’s CPF SA/RA and MA.
# Details on the respective resale comparables in the vicinity for each BTO project can be found on the HDB e-Sales website. The differences in attributes between the resale comparables and the BTO flats should be taken into account when making a comparison.
@ Singles who apply for the 2-room Flexi flats under the Single Singapore Citizen Scheme will pay $15,000 more than married couples. Eligible singles can also apply for AHG and SHG. The additional amount payable and the grants will vary based on the choice of lease tenure. The actual grant amounts will vary according to income. Read more on various CPF Housing Grants available.
5 The 2-room Flexi flats are priced taking into account the lease tenure and whether the buyers are first-timers, second-timers, or others. The price range of 2-room Flexi flats on short leases is shown in Annex B.
6 First-timer families will continue to enjoy priority in flat allocation2. Married/courting couples who wish to live together with their parent(s) can apply for a 3Gen flat in Bidadari. Other multi-generation families who wish to live near each other in the same BTO project can apply for flats in Alkaff Oasis, West Plains @ Bukit Batok or Anchorvale Plains under the Multi-Generation Priority Scheme 3(MGPS).
7 Applicants are advised to apply for a BTO flat in non-mature towns to enjoy a higher chance of success in securing a flat.
8 Regular updates on the number of applications submitted for the various flat types/towns will be published on the HDB InfoWEB. Applicants are advised to check for updates before submitting their application.
9 Applicants who wish to take up an HDB housing loan for their flat purchase must produce a valid HDB Loan Eligibility (HLE) Letter when they book a flat. They are encouraged to apply for an HLE Letter early so that they can plan their flat purchase in advance. The HLE Letter will indicate the maximum loan that can be offered based on individuals’ financial situation. Applicants can check their loan eligibility and apply for an HLE letter at www.hdb.gov.sg/hleapply.
10 Application for new flats launched in the February 2016 BTO exercise can be submitted online on the HDB InfoWEB from today, 24 February 2016 (Wednesday) to 1 March 2016 (Tuesday). Applicants can apply for only one flat type in one town.
11 More details on application procedures can be found in Annex C.
12 For enquiries, the public can:
- Log on to esales.hdb.gov.sg; or
- E-mail email@example.com; or
- Visit the HDB Sales Office to speak with our Customer Relations Executives during office hours
(Monday to Friday 8 am to 5 pm, Saturday 8 am to 1 pm).
13 In May 2016, HDB will offer about 4,070 BTO flats in Ang Mo Kio, Bedok, Bukit Merah, Bukit Panjang and Sembawang. About 5,000 balance flats will be offered in a concurrent Sale of Balance Flats (SBF) exercise. More information on the flats to be offered under the May 2016 BTO exercise is available on the HDB InfoWEB.
 In this case, the total grants are $80,000 and the selling price is $80,000. A minimum payment of 5% of the published price, i.e. $4,000 is needed, and the excess AHG/SHG will be credited into the buyers’ CPF Special Account (SA) /Retirement Account (RA) and Medisave Account (MA).
 At least 85% (for 4-room and 5-room flats) and 70% (for 3-room flats) of the BTO public flat supply in the non-mature towns are set aside for first-timer families. For flats in the mature estate of Bidadari, at least 95% (for 3-room and bigger flats) of the public flat supply will be set aside for first-timer families.
 HDB will set aside up to 15% of the 2-room Flexi and 3-room flats in a BTO project (subject to a minimum of 20 units each) for parents applying under MGPS. The same number of 2-room Flexi and bigger flats will be set aside in the same BTO project for their married children.