HDB releases over 11,000 flats in November sales launch

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/ EdgeProp Singapore
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November 17, 2020 7:53 PM SGT
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SINGAPORE (EDGEPROP) - HDB has released 11,015 flats for sale under the November 2020 Build-To-Order (BTO) and Sale of Balance Flats (SBF) exercises. The flats available comprise 5,795 BTO units and 5,220 SBF units. The latest launch brings the total number of BTO flats offered this year to 16,752 units.
The BTO units offered this month are distributed across seven HDB projects. Three projects are in the non-mature towns of Sembawang and Tengah, and four are in the mature towns of Bishan, Tampines and Toa Payoh (Bidadari). HDB says that at least 95% of the four-room and bigger flats have been set aside for first-timer families.
“For the November BTO exercise, we anticipate that it could potentially attract over 25,000 applications. In particular, Bishan Ridges and two sites (Bartley Beacon and ParkView @ Bidadari) in Toa Payoh (Bidadari) will likely be heavily oversubscribed – being in sought-after city-fringe locations and near numerous popular schools as well as MRT stations,” says Ismail Gafoor, CEO of PropNex.
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Bishan Ridges - EDGEPROP SINGAPORE
Bishan Ridges is expected to be one of the heavily oversubsribed projects in the November 2020 BTO sales launch. (Picture: HDB)
As there are existing eldercare facilities and services close to the Bishan BTO flats, the two-room flexi flats in that BTO project are offered only to seniors aged 55 years and above, and will be on shorter leases of between 15 and 45 years.
Eligible first-timer families stand to benefit from the Enhanced CPF Housing Grant of up to $80,000. With this grant, eligible flat buyers could pay prices from $12,000 for a two-room flexi unit, to $88,000 for a three-room unit, $200,000 for a four-room unit, and $291,000 for a five-room unit.
The SBF exercise will comprise two-room flexi flats, three- to five-room flats, 3Gen flats, and executive flats across various towns and estates. HDB says that most flats will be reserved for first-timer families, eligible first-timer singles may apply for a two-room flexi flat in non-mature towns.
Garden Terrace - EDGEPROP SINGAPORE
Garden Terrace is one of two new projects in the new Tengah HDB estate that was launched in the Nov 2020 BTO exercise. (Picture: HDB)
“Given the potential delays in the completion of BTO flats due to construction disruption, those with more immediate housing needs will likely consider flats in the resale market. In addition, first-time buyers may receive up to $160,000 in grants to help fund their resale flat purchase which we think has helped to boost demand for resale flats,” says Gafoor.
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Applications for the November 2020 BTO and SBF sales exercises are from Nov 17 to 23, and can be made online. The next BTO sales exercise will occur in February 2021 and will include 3,500 BTO flats in Bukit Batok, Kallang Whampoa, Tengah and Toa Payoh. Another sales exercise will begin in May 2021 with 3,800 BTO flats in Bukit Merah, Geylang, Tengah and Woodlands.
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