Today, HDB launched 3,995 new flats for sale under the February 2015 Build-To-Order (BTO) exercise. These flats are spread across five projects located in the non-mature towns of Bukit Batok and Hougang, and the mature town of Geylang. This is the first batch of the 16,900 BTO flats that HDB has planned for 2015.

2    To better help flat buyers plan their finances and flat purchase, from this sales exercise onwards, flat applicants who intend to take out an HDB housing loan will also need to produce a valid HDB Loan Eligibility (HLE) letter at the point of booking a flat. Previously, they only needed to produce the HLE letter when they sign the Agreement for Lease, which is four months after booking a flat.

February 2015 BTO Exercise

3     The 3,995 new flats in this exercise comprise Studio Apartments (SAs), 2-room to 5-room flats, as well as Three-Generation (3Gen) flats, to meet the diverse housing needs of first-timers, second-timers, multi-generation families, elderly and singles.

4     First-timers will continue to enjoy priority flat allocation, with at least 85% (for 4-room and 5-room flats) and 70% (for 2-room and 3-room flats) of the BTO public flat supply set aside for them. Eligible first-timer singles have the option of applying for a 2-room flat in West Edge @ Bukit Batok, Buangkok ParkVista and Buangkok Tropica.

5     Married/courting couples who wish to live together with their parent(s) can apply for a 3Gen flat at West Rock @ Bukit Batok. This is the first time 3Gen flats are offered in Bukit Batok. Other multi-generation families who wish to live near each other in the same BTO project can apply for flats in West Edge @ Bukit Batok, MacPherson Spring, Buangkok ParkVista or Buangkok Tropica under the Multi-Generation Priority Scheme¹ (MGPS).

^{[1] HDB will set aside up to 15% of the SAs, 2-room 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 and bigger flats will be set aside in the same BTO project for their married children.}

6     Eligible first-timer families can enjoy up to $60,000 of housing grants, comprising the Additional CPF Housing Grant (AHG) (up to $40,000) and the Special CPF Housing Grant (SHG) (up to $20,000). With these grants, 2-room, 3-room, 4-room and 5-room flats can be purchased from $13,000, $108,000, $220,000 and $340,000 respectively (see Table 1). Further details can be found in Annex A.

Table 1: February 2015 BTO Prices

<sup>Note:
* 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 BTO flat. SHG is applicable only to 2-room, 3-room and 4-room flats in the non-mature estates:</sup>

• ^{i) 2-room flat: $60,000 (comprising AHG of $40,000 and SHG of $20,000 where applicable)
  ii) 3-room flat: $50,000 (comprising AHG of $30,000 and SHG of $20,000 where applicable)
  iii) 4-room flat: $35,000 (comprising AHG of $15,000 and SHG of $20,000 where applicable)
  iv) 5-room flat / 3Gen flat: $10,000 (AHG only)}

• ^{The actual grant amounts vary based on income and choice of flat type. Read more on various CPF Housing Grants available.}

^{# SAs are sold on a 30-year lease, beginning from the date of key collection. Prices are inclusive of the elderly-friendly fittings/finishes.
@ Singles who apply for the 2-room 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 actual grant amounts will vary based on income. Read more on the various CPF Housing Grants available.}

Submission of HDB Loan Eligibility Letter at Point of Flat Booking

7     Since 1 January 2007, all potential flat buyers who wish to take up an HDB concessionary loan must first obtain an HLE letter, to be produced when they sign the Agreement for lease, four months after booking a flat. The HLE letter provides information on the loan quantum that flat buyers are eligible for, as well as the monthly instalments for the loan, and helps to ensure that flat buyers are able to pay for their home without overstretching their finances.

8     From this sales exercise onwards, flat applicants who intend to take out an HDB housing loan will need to produce a valid HLE Letter at the point of booking a flat, instead of during the signing of the Agreement for Lease.

9     This move to bring forward the HLE requirement seeks to help flat buyers better plan their finances and flat purchase. It will minimise any disappointment should they be unable to obtain sufficient loan to proceed with the flat purchase subsequently, resulting in cancellation of their flat application and forfeiture of the option fee paid.

Advice for Flat Buyers

10    Applicants are strongly advised to apply for a BTO flat in non-mature towns to enjoy a higher chance of success in securing a flat.

11    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.

12    Applicants who wish to finance their purchase with an HDB housing loan are encouraged to apply for an HLE Letter for early planning. The HLE Letter will indicate the maximum loan that can be offered based on individuals’ financial situation. Applicants may wish to check their loan eligibility at www.hdb.gov.sg/hleapply.

Application for February 2015 BTO Exercise

13    Application for new flats launched in the February 2015 BTO exercise can be submitted online on the HDB InfoWEB from today, 11 February 2015 (Wednesday) to 17 February 2015 (Tuesday). Applicants can apply for only one flat type in one town.

14   More details on application procedures can be found in Annex B.

15   For enquiries, the public can:

 - Log on to esales.hdb.gov.sg; or

 - E-mail hdbsales@mailbox.hdb.gov.sg; 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).

BTO-cum-SBF Launch in May 2015

16   In May 2015, HDB will offer about 4,040 BTO flats in Clementi, Punggol North, Sembawang and Tampines. About 4,000 to 5,000 flats will be offered in a concurrent Sale of Balance Flats (SBF) exercise. More information on the flats to be offered under the May 2015 BTO exercise is available on the HDB InfoWEB.