Sept BTO launch merged with Nov’s to let more benefit from new housing policies: Khaw

THE Ministry of National Development (MND) has decided to delay the September build-to-order (BTO) launch by a few weeks, so that three housing policies that were recently tweaked can benefit as many Singaporeans as possible, starting from the very next BTO launch.

This is after taking into account the fact the new policies require time for implementation, National Development Minister Khaw Boon Wan said in his blog on Wednesday.

He had in August also mentioned this in passing to reporters in a doorstop interview at HDB Hub at Toa Payoh.

MND had originally scheduled two BTO launches for the rest of this year, in September and November.

“Looking at the timing of the November BTO launch, we decided that a practical way is to merge the two launches into one mega launch in November,” Mr Khaw explained.

“This will mean a bumper crop of about 7,000 BTO flats in six HDB towns across the country: Bidadari, Bukit Batok, Choa Chu Kang, Hougang, Punggol Northshore and Sengkang.

“In addition, we are ready to market 5,000 balance flats in a concurrent Sale of Balance Flats exercise. This means a combined launch of 12,000 new flats in one go. I am sure home buyers will be able to find a flat that will suit their budget and needs.”

Three major housing policies were recently tweaked to improve affordability and build flexibility into housing options for Singaporeans. These include a new Two-Room Flexi Scheme which offers shorter lease options for elderly households, an increase in the income ceiling for new HDB flat buyers, and changes to widen the eligibility criteria for Special CPF Housing Grant.

Source: The Business Times, 23 September 2015

12,000 new flats to be launched in November

SINGAPORE – The last two Build-to-Order (BTO) flat launches this year will be merged into one “mega launch” in November.

This means a “bumper crop” of about 12,000 new flats will go on sale that month, said National Development Minister Khaw Boon Wan in a blog post on Wednesday.

Of these, 7,000 will be BTO flats in six towns – Bidadari, Punggol Northshore, Bukit Batok, Choa Chu Kang, Hougang and Sengkang.

The remaining 5,000 will be Sale of Balance Flats – flats not sold in previous BTO exercises.

Two BTO launches were originally scheduled in September and November this year. The September exercise would have launched flats in Punggol Northshore as well as the highly anticipated Bidadari estate.

Mr Khaw said the September exercise was delayed to give time for the implementation of new housing policies, such as a new Two-Room Flexi Scheme, an increase in the income ceiling for new flats, and enhancements to the Special CPF Housing Grant.

He said: “As implementation of any new policy does require some time, we therefore decided to delay the September BTO launch by a few weeks, so that these initiatives can benefit as many Singaporeans as possible starting from the very next BTO launch.

“Looking at the timing of the November BTO launch, we decided that a practical way is to merge the two launches into one mega launch in November.”

Out of the 7,000 new BTO flats, about 2,100 flats will be in Bidadari and 2,700 in Punggol Northshore.

Source: The Straits Time, 23 September 2015

BTO flats in Bidadari estate to come at a premium: Analysts

SINGAPORE: A total of 2,150 new flats in Bidadari estate will soon be launched for sale under the HDB’s next Build-to-Order (BTO) exercise, expected by the end of September. The BTO flats will comprise two- to five-room units.

This will be the first batch of HDB flats on offer in the new estate and priority will be given to those whose parents live in Toa Payoh, Potong Pasir or within the 2km radius.

The area, which was once a cemetery, will eventually house about 10,000 residential units in the new Bidadari estate, as well as community malls, a 10-hectare park and a lake. The estate will be served by two MRT stations – Woodleigh and Potong Pasir – on the North East Line.

According to property watchers, the Bidadari units will come at a premium, largely due to the city-fringe location.

Said ERA Realty’s key executive officer Eugene Lim: “The nearest recent BTO in the vicinity was St George around the Boon Keng MRT station, which is just one stop away from Potong Pasir, where Bidadari is next to.

“That was in September last year and the flats back then were launched, from S$328,000 for a three-room flat, and for a four-room flat, it started from about S$459,000. So we would expect pricing for the flats in Bidadari to be in the range of, for a three-room flat, S$300,000 to S$350,000, while for a four-room flat, S$400,000 to S$450,000. As for the larger five-room flats, (it is expected) to be around S$600,000.”

Despite its history as a cemetery, and the possibility of a funeral parlour in the vicinity, analysts said they are expecting a strong demand for the Bidadari project. These flats will also be offered under the first BTO exercise launched after the income cap was raised to S$12,000.

CEO of Century 21 Ku Swee Yong, said: “That gives us a fresh group of applicants who previously were not allowed to apply for BTOs. So on the demand side, the tap has been opened a little bit. If we were to draw the comparison with Bishan, which used to be a significantly-sized cemetery, Bishan currently has resale prices that are almost the top in Singapore.”

HDB said there are plans to relocate the niches at the Mount Vernon Columbarium, currently located within the Bidadari estate.

Source: Channel Newsasia, 21 September 2015