RESIDENTIAL PROPERTY | Staff Reporter, Singapore

HDB launches 6,735 flats in May

They comprise 3,485 BTO and 3,268 SBF units.

The Housing and Development Board (HDB) has launched 6,753 flats for sale under the May 2019 build-to-order (BTO) and sale of balance flats (SBF) exercise, an announcement revealed. This includes 3,485 BTO units and 3,268 SBF units across various towns and estates.

The 3,485 BTO flats on offer are spread across four projects. Three projects are in the non-mature towns of Tengah and Woodlands, whilst another project is in the mature town of Kallang Whampoa.

A selection of flats, ranging from two-room Flexi to five-room flats, is offered to meet the housing needs of first-timer and second-timer families, elderly and singles. In view of the eldercare services and facilities in its vicinity, the two-room Flexi flats at Kempas Residences are offered only to seniors (aged 55 and above) on short leases of between 15 and 45 years (in five-year increments).

The new HDB flats are also priced with a generous subsidy, taking into account factors such as location, flat attributes and prevailing market conditions. Eligible first-timer families can enjoy up to $80,000 of housing grants, comprising the Additional CPF Housing Grant (AHG) (up to $40,000) and the Special CPF Housing Grant (SHG) (up to $40,000). With these grants, flat buyers could pay as little as $6,000 for a two-room flexi flat, $90,000 for a three-room flat, $184,000 for a four-room flat, and $331,000 for a five-room flat in Woodlands.

Also read: CPF and HDB loan changes give buyers more flexibility

With effect from this sales exercise, second-timer (ST) families who live in public rental flats may also enjoy a Step-Up CPF Housing Grant of $15,000 when they apply for three-room new flat in the non-mature towns. These ST families can also choose to buy a two-room or three-room resale flat in the non-mature towns to enjoy the Step-Up CPF Housing Grant.

“First-timer families will continue to enjoy priority in flat allocation. Applicants who wish to live close to their parents or married children in the same BTO project can submit a joint application under the Multi-Generation Priority Scheme (MGPS),” HDB said.

HDB also revealed that it has been making steady progress in reducing the balloting time for BTO flats. With effect from this sales exercise, the balloting time for BTO flats will be reduced from six weeks to three weeks. 

In addition to the BTO flats, HDB will offer 3,268 balance flats under the SBF exercise. They comprise 535 units of two-room Flexi, 432 units of three-room, 1,384 units of four-room, 799 units of five-room, 111 units of 3Gen and seven units of executive flats across various towns and estates.

The majority of the flats offered under the SBF exercise are reserved for first-timer families, HDB highlighted. Eligible first-timer singles may also apply for a two-room Flexi flat in non-mature towns.

SBF flats come in a wide range of flat types, locations and selling prices. Similar to BTO flats, SBF flats are subsidised and priced considerably lower than comparable resale flats in the vicinity.

Application for new flats launched in the May 2019 BTO and SBF exercise can be submitted online on the HDB InfoWEB from 22 May to 28 May. Applicants can apply for only one flat type/category in one town under either the BTO or SBF exercise.

“Applicants who wish to take up an HDB housing loan for their flat purchase need to produce a valid HLE Loan Eligibility (HLE) Letter when they book a flat, except for young couples who are eligible for deferment of income assessment,” HDB underlined. “All applicants are encouraged to apply for an HLE Letter early so that they can plan their flat purchase in advance.”  

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