SINGAPORE: The Housing and Development Board (HDB) launched 10,209 flats for sale in July's Build-to-Order (BTO) sales exercise, it said on Wednesday (Jul 23).
This includes 5,547 BTO flats and 4,662 Sale of Balance (SBF) flats, it said in a press release.
Seven out of 10 BTO flats up for sale have waiting times of four years or lower, including 1,396 units with less than three years' waiting time at Clementi Emerald and Bangkit Breeze.
Sembawang Beacon, the first BTO project in the new Sembawang North neighbourhood, will comprise 775 units and has a wait time of three years.
HDB noted that flat buyers looking to move into their homes sooner can consider applying in the SBF exercise, where 1,733 - or more than a third of SBF flats - have been completed.
There are four standard and four prime BTO projects offered in the latest sales exercise, comprising flats ranging from two-room flexi to 3Gen flats.
The standard projects on offer are in Bukit Panjang, Sembawang, Tampines and Woodlands, while the prime projects include two in Bukit Merah and one each in Clementi and Toa Payoh.
"To ensure affordability, all new flats are priced with significant market discounts," HDB said.
On top of the market discounts, Prime flats - which command higher market values due to their more favourable locational attributes - get additional subsidies to ensure affordability and accessibility.
The selling prices for these new flats are substantially lower than the transacted prices of comparable resale flats, said HDB.
Correspondingly, one of the additional restrictions that come with Prime flats is the subsidy clawback upon resale, which is derived as a percentage of the flat’s resale or valuation price, whichever is higher.
Alexandra Peaks, Alexandra Vista and Toa Payoh Ascent will have subsidy clawback rates of 11 per cent, while Clementi Emerald will have a 12 per cent subsidy recovery rate.
"They are commensurate with the extent of the additional subsidies provided for the respective projects," HDB said.
Eligible first-timer families stand to benefit from the enhanced CPF housing grant of up to S$120,000 (US$94,000). With the grant, homebuyers can purchase a 3-room standard flat starting from S$162,000 or a 4-room standard flat starting from S$248,000, said the Housing Board.
HDB also outlined some changes that will take effect from the current sales exercise, including improvements to the Family Care Scheme, which will provide priority access to parents and their children, when applying for a new flat to live with or near each other.
First announced in March, the allocation quota for three-room and larger BTO flats for second-timer families has also been raised by 5 percentage points.
The deferred income assessment rules have been expanded, such that only one party in a couple needs to be a recent or current full-time student or National Serviceman. Previously, both parties needed to meet the requirement.
The Fresh Start Housing Grant, provided to support second-timer public rental families to buy a new standard two-room Flexi or standard three-room flat on a shorter lease, was also enhanced to S$75,000 from S$50,000.
The 4,662 SBF flats offered in the current exercise are more than the 3,000 units HDB previously committed to, it noted.
Together with the 5,590 such flats offered in February, the total SBF supply this year has exceeded 10,200 flats. This is the largest annual supply of SBF flats since 2016, HDB said.
Like BTO flats, SBF flats are subsidised and priced lower than comparable resale flats.
Eligible first-timer singles can apply for any of the two-room flexi SBF flats across the island in this sales exercise, HDB said.
Flat applications can be made online via the HDB Flat Portal from Wednesday to Jul 30.
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This includes 5,547 BTO flats and 4,662 Sale of Balance (SBF) flats, it said in a press release.
Seven out of 10 BTO flats up for sale have waiting times of four years or lower, including 1,396 units with less than three years' waiting time at Clementi Emerald and Bangkit Breeze.
Sembawang Beacon, the first BTO project in the new Sembawang North neighbourhood, will comprise 775 units and has a wait time of three years.
HDB noted that flat buyers looking to move into their homes sooner can consider applying in the SBF exercise, where 1,733 - or more than a third of SBF flats - have been completed.
BTO FLATS, SUBSIDY CLAWBACK
There are four standard and four prime BTO projects offered in the latest sales exercise, comprising flats ranging from two-room flexi to 3Gen flats.
The standard projects on offer are in Bukit Panjang, Sembawang, Tampines and Woodlands, while the prime projects include two in Bukit Merah and one each in Clementi and Toa Payoh.
"To ensure affordability, all new flats are priced with significant market discounts," HDB said.
On top of the market discounts, Prime flats - which command higher market values due to their more favourable locational attributes - get additional subsidies to ensure affordability and accessibility.
The selling prices for these new flats are substantially lower than the transacted prices of comparable resale flats, said HDB.
Correspondingly, one of the additional restrictions that come with Prime flats is the subsidy clawback upon resale, which is derived as a percentage of the flat’s resale or valuation price, whichever is higher.
Alexandra Peaks, Alexandra Vista and Toa Payoh Ascent will have subsidy clawback rates of 11 per cent, while Clementi Emerald will have a 12 per cent subsidy recovery rate.
"They are commensurate with the extent of the additional subsidies provided for the respective projects," HDB said.
Eligible first-timer families stand to benefit from the enhanced CPF housing grant of up to S$120,000 (US$94,000). With the grant, homebuyers can purchase a 3-room standard flat starting from S$162,000 or a 4-room standard flat starting from S$248,000, said the Housing Board.
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CHANGES FROM JULY
HDB also outlined some changes that will take effect from the current sales exercise, including improvements to the Family Care Scheme, which will provide priority access to parents and their children, when applying for a new flat to live with or near each other.
First announced in March, the allocation quota for three-room and larger BTO flats for second-timer families has also been raised by 5 percentage points.
The deferred income assessment rules have been expanded, such that only one party in a couple needs to be a recent or current full-time student or National Serviceman. Previously, both parties needed to meet the requirement.
The Fresh Start Housing Grant, provided to support second-timer public rental families to buy a new standard two-room Flexi or standard three-room flat on a shorter lease, was also enhanced to S$75,000 from S$50,000.
SBF FLATS
The 4,662 SBF flats offered in the current exercise are more than the 3,000 units HDB previously committed to, it noted.
Together with the 5,590 such flats offered in February, the total SBF supply this year has exceeded 10,200 flats. This is the largest annual supply of SBF flats since 2016, HDB said.
Like BTO flats, SBF flats are subsidised and priced lower than comparable resale flats.
Eligible first-timer singles can apply for any of the two-room flexi SBF flats across the island in this sales exercise, HDB said.
Flat applications can be made online via the HDB Flat Portal from Wednesday to Jul 30.
Continue reading...