Wednesday, March 27, 2013

3,898 BTO flats launched in non-mature estates

The Business Times  |  MARCH 22, 2013
Another 7,850 units, including 3,000 SBF, to be made available for balloting in May

The Housing & Development Board (HDB) has launched close to 3,900 Build-to-Order (BTO) flats, with another 7,850 flats to be made available for balloting in May.

The four latest projects released yesterday were in three non-mature towns: Bukit Batok, Punggol and Sengkang. They will comprise studio apartments and two-room to five-room flats.

SkyPeak @ Bukit Batok is located between Bukit Batok Street 21 and Bukit Batok East Avenue 6. It has 1,430 units of two-room to five-room flats. Starting prices range from $117,000 to $411,000.

Matilda Portico is bounded by Punggol Field and Punggol Way, and offers 470 flats of four-room and five-room units. Prices start from $294,000. The final two projects in Sengkang are Compassvale Cape and Compassvale Helm.

Compassvale Cape is located along Compassvale Crescent, near Cheng Lim LRT station. It has 1,400 flats comprising studio apartments as well as three-room to five-room flats. The studio apartments are priced from $88,000, while the flats start from $189,000 for a three-room unit.

Compassvale Helm sits between Compassvale Bow and Buangkok Drive, near Buangkok MRT Station. It has 598 flats comprising studio apartments, as well as four-room and five-room units. Prices start at $88,000 for studio apartments, and $304,000 for a four-room flat.

Lee Sze Teck, senior manager for training, research and consultancy at DWG, said the flats might not appeal to some buyers as they are in non-mature estates.

He expects two to three applicants for each unit at most of the projects, except for Compassvale Helm, where he predicts application rates of three to four.

The application rate for the first BTO exercise of the year in January of more than 3,300 flats was 3.8 as at Feb 4, HDB data showed.

Mr Lee said Compassvale Helm is near a mature estate in Hougang, which has many amenities. It is located near several schools and close to retail options, and the MRT station is less than five minutes away. Another 4,850 BTO flats will be released in May in Choa Chu Kang, Hougang, Jurong West, Sembawang and Woodlands, the HDB said yesterday. This will go together with the launch of 3,000 other flats in a Sales of Balance Flats (SBF) exercise.

Some homebuyers may hold back their purchasing decision until then, Mr Lee reckons. "The recent reports on delays in construction might result in some buyers opting to wait for May's SBF launches."

The HDB plans to launch 25,000 BTO flats for the year.

Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C

Senior Sales Director
DTZ Property Network Pte Ltd (L3007960A)

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