HDB Launches Record Number of Flats for Sale; Prices after grants start from $102,000 for 3-room and $203,000 for 4-room flats
Today, HDB launched 9,431 new flats for sale in 24 HDB towns/estates under the May 2015 joint Build-To-Order (BTO) cum Sale of Balance Flats (SBF) exercise. This is HDB’s largest joint BTO cum SBF exercise so far. With housing grants, the selling prices of 2-room, 3-room, 4-room and 5-room flats start from $15,000, $102,000, $203,000 and $354,000 respectively.
2 The May 2015 BTO exercise will offer 4,044 BTO flats across four projects in the non-mature towns of Punggol and Sembawang, and two projects in the mature towns of Clementi and Tampines. The first homes at Northshore District, with smart technologies found within the projects, are also launched today.
3 This is the second BTO launch for 2015, bringing the total number of BTO flats offered this year to 8,039 units. Together with the 5,387 balance flats offered in this exercise, HDB has offered a total of 13,426 flats for sale in the first half of 2015, to meet the housing needs of Singaporeans.
4 A wide range of flats, including Studio Apartments (SAs), 2-room to 5-room flats and Three-Generation (3Gen) flats, is offered to meet the diverse housing needs of first-timers, second-timers, multi-generation families, elderly and singles. Further details can be found in Annex A1.
5 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 $15,000, $102,000, $203,000 and $354,000 respectively.
6 New HDB flats are priced with a generous subsidy, taking into account factors such as location, flat attributes, project design 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: May 2015 BTO Prices
* 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 also applicable only to 2-room, 3-room and 4-room flats in the non-mature estates:
The actual grant amounts vary based on income and choice of flat type. Read more on various CPF Housing Grants available.
7 First-timers will continue to enjoy priority flat allocation1 . Married/courting couples who wish to live together with their parent(s) can apply for a 3Gen flat at Tampines GreenWeave. Other multi-generation families who wish to live near each other in the same BTO project can apply for flats in Northshore Residences I & II, EastLink I @ Canberra, EastLink II @ Canberra or Tampines GreenWeave under the Multi-Generation Priority Scheme2 (MGPS).
1 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 in the non-mature towns are set aside for first-timers. For flats in the mature town of Clementi and Tampines, at least 95% of the public flat supply will be set aside for FTs.
2 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.
8 As announced by Minister Khaw Boon Wan during the Committee of Supply 2015 debate, with effect from the May 2015 BTO exercise, up to 50% of the 2-room flats in the non-mature estates in each BTO launch will be set aside for singles, up from 30%. The higher quota will help provide greater assurance to singles and reduce the demand backlog.
9 HDB will offer 5,387 balance flats in 11 non-mature and 13 mature towns/estates under the May 2015 SBF exercise. They comprise 227 SAs, 272 units of 2-room, 1,892 units of 3-room, 2,091 units of 4-room, 862 units of 5-room, 32 units of 3Gen and 11 units of executive flats. Flats offered under the SBF exercise are reserved for families3 .
3 At least 95% of the supply of balance flats (excluding SAs) will be set aside for first-timers. In addition, 50% of the SAs will be set aside for eligible elderly flat applicants under the Studio Apartment Priority Scheme (SAPS), which enable them to age-in-place in the town of their current home, or near their married children.
10 SBF flats come in a wide range of flat types, locations and selling prices (see Table 2). About 27% are already completed, while the remaining 73% are under construction. Similar to BTO flats, SBF flats are also priced with a generous subsidy, considerably lower than transacted prices of comparable resale flats in the vicinity. Pricing details and applicable ethnic quotas of the SBF flats offered are in Annex A2.
Table 2: Summary of May 2015 SBF Prices
11 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. Although the SBF flats have a shorter waiting time to completion, the number of units in each town is small, and is likely to attract high application rates.
12 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.
13 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. Applicants 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 and apply for an HLE letter at www.hdb.gov.sg/hleapply.
14 Application for new flats launched in the May 2015 BTO cum SBF exercise can be submitted online on the HDB InfoWEB from today, 27 May 2015 (Wednesday) to 2 Jun 2015 (Tuesday). Applicants can apply for only one flat type/category in one town under either the BTO or SBF exercise.
15 More details on application procedures can be found in Annex B.
16 For enquiries, the public can:
- Log on to esales.hdb.gov.sg; or
- E-mail firstname.lastname@example.org; 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).
18 In Aug 2015, HDB will offer about 4,860 BTO flats in Bidadari and Punggol Northshore. More information on the flats to be offered under the Aug 2015 BTO exercise is available on the HDB InfoWEB.