A total of 4,428 Build-To-Order (BTO) flats were launched for sale on Tuesday, Feb. 28, the first Housing & Development Board sales exercise of 2023.
Applications close at 11.59pm on March 6 on the HDB flat portal.
Balloting of flats will determine its allocation to buyers.
Prime location public housing: Dover Forest & Farrer Park
Two projects under the prime location public housing (PLH) model are in Dover Forest and Farrer Park, located in the mature estates of Queenstown and Kallang/ Whampoa respectively.
These two projects come with stricter buying and selling conditions, such as a 6 per cent subsidy clawback upon first sale.
Flats in three other projects are also put up for sale: Another in Kallang/ Whampoa that does not come under the PLH model, and two in the non-mature estates of Jurong West and Tengah.
HDB said all four-room flats offered in the two non-mature estates are below S$400,000, before grants.
Most expensive flats in this launch: Queenstown
Situated in the eastern half of Dover Forest and near Dover MRT station is Ulu Pandan Glades in Queenstown: A total of 732 three-room and four-room units are on offer there.
Prices range from S$541,000 to S$711,000 for a four-room flat, making these flats the most expensive in this launch.
This development has the longest waiting time as they will take about 68 months (about 5.6 years) to be completed.
A three-room flat is going for S$372,000 to S$498,000 without grants.
Another prime area: Farrer Park site
Farrer Park Fields is the second PLH project in the current sales exercise.
Located between Little India and Farrer Park MRT stations, it has 1,274 two-room flexi, three-room and four-room flats.
Prices for this project range from S$356,000 to S$449,000 for a three-room flat, and S$484,000 to S$631,000 for a four-room flat.
The waiting time is about 53 months (4.4 years).
Non-PLH Kallang/ Whampoa site
The other BTO project in Kallang/ Whampoa is Rajah Summit in Jalan Rajah next to Kallang River.
A total of 510 three-room and four-room flats are available.
Prices are going for S$326,000 to S$443,000 for a three-room flat, and S$459,000 to S$631,000 for a four-room flat.
It has a waiting time of 58 months, just under five years.
Tengah and Jurong West projects
The Tengah and Jurong West projects have the shortest waiting time.
Buyers will have to wait for just under four years for their flats.
These two projects will also set aside at least 95 per cent of the four-room and larger flats, and at least 85 per cent of the three-room flats, for first-time applicant families.
Tengah project
In Tengah, 1,641 two-room flexi, three-room, four-room and five-room flats are on offer at Brickland Weave in Brickland Road near Choa Chu Kang town.
Prices range from S$291,000 to S$375,000 for a four-room flat and S$401,000 to S$503,000 for a five-room flat.
Jurong West project
In Jurong West, 271 three-room and four-room flats are on offer at Jurong West Crystal, near Jurong West Sports Centre.
These flats are the cheapest at S$187,000 to S$249,000 for a three-room flat, and S$288,000 to S$372,000 for a four-room flat.
Background
When they sell their homes on the open market for the first time, flat owners in the two PLH projects will have to pay 6 per cent of the resale price or valuation, whichever is higher, to HDB.
The clawback only applies to the first sale transaction.
Before they can sell their flats, the minimum occupation period (MOP) is 10 years.
Owners are also not allowed to rent out their whole unit, even after the MOP is over.
Standard BTO flats have a five-year MOP and with no subsidy clawback clause.
https://mothership.sg/2023/02/dover-forest-farrer-park-bto-feb-2023/
