HDB launched 6,535 flats for sale today, under the May 2022 Build-To-Order (BTO) and Sale of Balance Flats (SBF) exercises. The 4,583 BTO flats are spread across five projects spanning both mature and non-mature estates – Bukit Merah, Queenstown, Toa Payoh, Jurong West and Yishun. Home buyers who are looking to move into their flats sooner can consider the projects in Jurong West and Yishun. Both projects are in non-mature estates where application rates generally tend to be lower, and they also come with some of the shortest waiting times among all the projects launched in the May 2022 BTO exercise, at 3.8 years or less. Another 1,952 SBF units across various towns/estates are also being offered for sale.

2 A significant proportion of the BTO flats are in mature estates¹, including the flats at Bukit Merah and Queenstown which will be launched under the Prime Location Public Housing (PLH) model. This offers more choices for young families who wish to live near their parents in the same mature estates for mutual care and support.

May 2022 BTO Exercise

Affordable and wide range of flats to meet different budgets and needs of home buyers

3 A wide selection of flats, ranging from 2-room Flexi to 5-room flats, is offered in this BTO exercise to meet the diverse housing needs of first-timers, second-timer families, seniors, and singles. Further details can be found in Annex A. 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 B. The range of waiting times is generally between 3 and 5 years, similar to BTO projects launched in the past year.

4 First-timer families who are looking to move into their flats sooner can consider Lakeside View in Jurong West and Yishun Beacon. The waiting times are shorter, at about 3.3 to 3.8 years. The flats offered in these projects range from 2-room Flexi to 5-room flats. With at least 85 per cent of the 4-room and bigger flat types set aside for first-timer families, such applicants can look forward to a higher chance of securing flats in these projects. In particular, Lakeside View will be located right next to the new Jurong Lake District – Singapore’s largest business district outside the Central Business District. When fully developed, the district will feature a good mix of public and private homes, as well as offices, schools, amenities, and nature parks.

5 Eligible first-timer families can benefit from the Enhanced CPF Housing Grant (EHG) of up to $80,000, making the flats more affordable. For those who are eligible for the EHG, a 4-room flat in Lakeside View is priced from $260,000 after grants (see Table 1 for the BTO flat prices and the comparable resale prices). More information on the financing of flats on offer can be found on the HDB Flat Portal.

Table 1: Flat Prices in May 2022 BTO Exercise

Town	Project	Flat Type	Selling Price (Excluding Grants)	Selling Price (Including Grants^)	Transacted Prices of Resale Flats Nearby #
Non-Mature Towns
Jurong West	Lakeside View	2-room Flexi^{^^}	From $107,000	From $27,000	-
		3-room	From $215,000	From $140,000	$350,000 - $413,888
		4-room	From $320,000	From $260,000	$435,000 - $535,000
		5-room	From $412,000	From $367,000	$570,000 - $620,000
Yishun	Yishun Beacon ~	2-room Flexi^{^^}	From $123,000	From $43,000	-
		4-room	From $328,000	From $268,000	$490,000 - $550,000
		5-room	From $485,000	From $440,000	$570,000 - $710,000
Mature Town
Toa Payoh	Kim Keat Heights	2-room Flexi	From $162,000	From $82,000	-
		3-room	From $289,000	From $229,000	-
		4-room	From $420,000	From $375,000	$618,888 - $720,000
Prime Location Public Housing Model
Bukit Merah	Bukit Merah Ridge	3-room	From $377,000	From $317,000	$530,000 - $720,000
Bukit Merah	Bukit Merah Ridge	4-room	From $540,000	From $495,000	$860,000 - $1,030,000
Queenstown	Ghim Moh Ascent	3-room	From $369,000	From $309,000	$535,000 - $700,000
Queenstown	Ghim Moh Ascent	4-room	From $511,000	From $466,000	$718,000 - $970,000

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 and Prime Location Public Housing Model
iii) 4-room flat: $60,000 in non-mature towns and $45,000 in mature towns and Prime Location Public Housing Model
iv) 5-room flat: $45,000 in non-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.

Two more PLH projects launched in Bukit Merah and Queenstown

6 Among the projects offered are Bukit Merah Ridge and Ghim Moh Ascent – the third and fourth projects to be launched under the PLH model. The PLH model aims to ensure that new public housing built in prime and central locations remain affordable and accessible for Singaporeans (see Annex C for a summary of the key features of the model). Ghim Moh Ascent will be located in the Health District @ Queenstown, a first-of-its-kind multiple stakeholder collaboration project to create integrated solutions that will enhance the health and well-being of residents across their life stages.

7 Up to 20 per cent of the PLH flats in the two projects will be set aside for first-timer families; and up to 2 per cent for second-timer families, under the Married Child Priority Scheme. This is two-thirds of the usual quotas². The reduced quota will provide more opportunities for Singaporeans who do not have family members living near the area to also have an opportunity to live in these locations.

8 As PLH flats are priced with additional subsidies on top of the substantial subsidies already provided for all BTO flats today, owners of these flats will have to return to HDB a percentage of the higher of the resale price or valuation upon the sale of their flats³. For Bukit Merah Ridge / Ghim Moh Ascent, the amount to be recovered from the flat buyers is fixed at 6 per cent and will apply regardless of when the flats are sold in future. This amount to be recovered is commensurate with the extent of the additional subsidy that has been provided.

May 2022 SBF Exercise

9 In addition to the BTO flats, HDB will offer 1,952 balance flats in the SBF exercise. They comprise 614 units of 2-room Flexi, 251 units of 3-room, 770 units of 4-room, 279 units of 5-room, 33 units of 3Gen and 5 units of Executive flats across various towns/ estates. About 34 per cent have been completed while the rest are in various stages of construction.

10 Most of the flats under the SBF exercise are reserved for first-timer families⁴. Eligible first-timer singles may also apply for a 2-room Flexi flat in the non-mature towns. Like BTO flats, the SBF flats are heavily subsidised and priced considerably lower than comparable resale flats in the vicinity (see Table 2 for a summary of flat prices). More details on the pricing and applicable ethnic quotas of the SBF flats are in Annex D.

Table 2: Summary of May 2022 SBF Prices

Flat Type	Selling Price (Excluding Grants)	Selling Price (Including Grants)^
Non-Mature Towns
2-Room Flexi (99-year/ remaining lease)*	From $98,000	From $18,000
3-Room	From $153,000	From $78,000
4-Room	From $218,000	From $158,000
5-Room	From $273,000	From $228,000
3Gen	From $441,000	From $396,000
Executive	$530,000	$530,000
Mature Towns / Estates
2-Room Flexi (99-year/ remaining lease)*	From $136,000	From $56,000
3-Room	From $143,000	From $83,000
4-Room	From $236,000	From $191,000
5-Room	From $440,000	From $410,000
3Gen	From $508,000	From $478,000
Executive	From $550,000	From $550,000

Note:
1) ^ The starting prices of flats are based on 99-year/ remaining 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/3Gen 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.

2) * The starting prices of flats offered under 2-room Flexi scheme are based on 99-year/ remaining lease. Buyers can refer to the prices of individual flats on short lease in the HDB InfoWEB.

3) Selling prices are rounded up to the nearest thousand dollars.

4) To check the lease commencement date of each block, please refer to HDB Flat Portal.

Application for May 2022 BTO and SBF Exercises

11 Applications for the flats launched in the May 2022 BTO and SBF exercises can be made online on HDB InfoWEB from today, 27 May 2022 (Friday) to 2 June 2022 (Thursday). Applicants can apply for only one flat type/category in one town under either the BTO or SBF exercise.

12 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, so that they can book a flat within their budget.

13 All the information on the BTO and SBF flats on offer is available on the HDB InfoWEB. 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.

Advice for Flat Buyers

14 Applicants are encouraged to apply for a BTO flat in the non-mature towns to enjoy a higher chance of success in securing a flat. Although SBF flats have a shorter waiting time to completion, the number of units offered in each town is usually small, and they are likely to attract high application rates. More details on the application procedures can be found in Annex E.

15 HDB will shortlist applicants using a computer ballot, and not on a first-come-first-served basis. There is no need to rush to submit applications within the first few hours or first few days of the application period. The number of applications received will also be updated regularly on the HDB InfoWEB. Currently the total application rate shows the consolidated application rate for all towns, which will be influenced by locational factors. With more flats in mature estates being launched in recent years, total application rates will be skewed by a few popular projects with high application rates. Thus, from the May 2022 sales exercise, HDB will also publish the median application rate. Applicants are encouraged to refer to the median application rates as well, and choose flat categories with lower application rates, to improve their chances of success.

Upcoming BTO Launch in August and November 2022

16 Come August 2022, HDB will offer about 4,900 BTO flats in towns/estates such as Ang Mo Kio, Bukit Merah, Choa Chu Kang, Jurong East, Tampines and Woodlands. More details will be announced when ready.

17 In November 2022, HDB will offer about 9,500 BTO flats in towns/estates such as Bukit Batok, Kallang Whampoa, Queenstown, and Yishun. This number is subject to review as more project details will be firmed up closer to the launch date. Overall, HDB is on track to launch up to 23,000 new flats in 2022. More information on the BTO flats is available on the HDB InfoWEB. HDB will continue to monitor the housing demand and adjust the plans where necessary.

¹A Bukit Merah project (next to Redhill MRT Station) originally planned for May 2022, will be launched in August 2022 instead as more time is needed to review the project, and to better spread out the location of projects in mature and non-mature estates at each launch.
²The priority quotas for other BTO flats in the mature estates are up to 30% for first-timer families, and up to 3% for second-timer families.
³The additional subsidies will keep PLH flats affordable for a wide range of Singaporeans, while the subsidy recovery will ensure parity with other BTO flat owners who are not accorded these additional subsidies.
⁴At least 95% of the supply of balance flats (for 3-room and bigger) are set aside for first-timer families.

HDB Launches 6,535 Flats in May 2022 BTO and SBF Exercises