HDB launches 3,953 flats for sale in Feb 2022 BTO exercise, second PLH project launched in Kallang/Whampoa
/ EdgeProp Singapore |
HDB has launched six BTO projects including one development under the Prime Location Public Housing model (Artist's impression of King George's Heights: HDB)
SINGAPORE (EDGEPROP) - HDB has launched 3,953 flats for sale under the February 2022 Build-To-Order (BTO) exercise. The flats are spread across six projects including one development in Kallang/Whampoa under the new Prime Location Public Housing (PLH) model.
See also: Home buyer’s poser: BTO or resale flat?
The remaining five projects are located in Geylang, Tengah and Yishun.
The BTO development under the PLH model, dubbed King George’s Heights, will have 398 units made up of three- and four-room flats. Located near Lavender and Jalan Besar MRT stations, the project will have one residential block with two wings of 33 and 47 storeys respectively.
Artist's impression of King George's Heights (Credit: HDB)
Prices for the flats start from $353,000 for a three-room flat and $488,000 for a four-room flat. The project is scheduled for completion in 3Q2027. It is the second project to launch under the PLH model following the River Peaks project in Rochor launched last year. (Browse newly launched condos in Singapore right now)
In Geylang, HDB is launching Dakota Crest, located along Geylang River and the Geylang Park Connector. The development comprises three residential blocks ranging from 17 to 22 storeys. There are 443 flats are available, comprising two-room flexi, three-, and four-room flats.
Artist's impression of Dakota Crest (Credit: HDB)
Prices start from $352,000 for a three-room flat and $522,000 for a four-room flat. The project is slated for completion in 4Q2027.
Two of the new BTO projects are in Yishun: Grove Spring @ Yishun and Yishun Boardwalk. Both are bounded by Yishun Avenue 6 and Yishun Avenue 8.
Grove Spring @ Yishun has 987 units across two-room flexi to five-room flats, with prices starting from $180,000 for a three-room unit, $270,000 for a four-room unit and $385,000 for a five-room flat.
Artist's impression of Grove Spring @ Yishun (Credit: HDB)
Yishun Boardwalk has 852 units spread across eight blocks comprising two-room flexi to five-room flats. Prices start from $189,000 for a three-room unit, $276,000 for a four-room unit and $410,000 for a five-room flat.
Artist's Impression of Yishun Boardwalk (Credit: HDB)
In comparison with the other projects in this exercise, Grove Spring @ Yishun and Yishun Boardwalk have shorter waiting times, with completion expected in 4Q2024 and 2Q2025 respectively.
The remaining two projects are in Tengah: Plantation Creek and Parc Flora @ Tengah.
Plantation Creek, located in Tenga Plantation District, will comprise six residential blocks ranging from 15 to 16 storeys. There are 713 flats made up of four- and five-room units. Prices start from $309,000 for a four-room flat and $420,000 for a five-room flat. Completion is targeted in 2Q2026.
Artist's impression of Plantation Creek (Credit: HDB)
Parc Flora @ Tengah is located in Park District, which is home to Market Place, Singapore’s first car-free HDB town centre. The development comprises four residential blocks ranging from 12 to 14 storeys. There are 560 units comprising a mix of two-room flexi, three-, four-, and five-room flats. (Find HDB flats for rent or sale with our Singapore HDB directory)
Artist's impression of Parc Flora @ Tengah (Credit: HDB)
Prices start from $231,000 for a three-room flat, $322,000 for a four-room flat and $428,000 for a five-room unit. Completion is targeted in 3Q2025.
Stiff competition expected for King George’s Heights and Dakota Crest
Consultants are expecting the PLH project in Kallang/Whampoa as well as the Geylang project to be the most popular across the launch.
For King George’s Heights, high subscription rates are expected, with consultants noting the project location is close to the Rochor PLH project which saw overwhelming interest.
“As this is the second PLH model flat, we can expect strong demand for these flats since prices seemed to be slightly lower than previous BTO launches at Kallang/Whampoa, possibly to compensate for the longer MOP period and more stringent selling/buying restrictions,” says Christine Sun, senior vice president of research & analytics at OrangeTee & Tie.
Ismail Gafoor, CEO of PropNex Realty, estimates that subscription rates could likely exceed three and seven times for the three-room and four-room flat types, respectively. “This project presents another opportunity for those who have missed out on the BTO flats in Rochor in November to try to secure a flat in the area,” he says.
Dakota Crest in Geylang is expected to attract interest given its location between two MRT stations (Mountbatten and Dakota), proximity to the city centre, and amenities in the area.
However, the project also has the longest expected completion time among the new launches at 63 months or over five years, which consultants say may put off some buyers. Lee Sze Teck, Huttons Asia’s senior director of research, is estimating a subscription rate of between four and six for the project.
Check out the latest listings near Kallang/Whampoa, Geylang, Yishun, Jalan Besar MRT station, Mountbatten MRT station, Dakota MRT station
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