January 2014 BTO Flats Launch

January 2014 BTO Flats Launch

On 22 January 2014, Singapore’s Housing and Development Board (HDB) launched six BTO (Build-To-Order) projects, basically ensuring an offer of 3,139 new flats in a mature town (Serangoon) and no less than four non-mature towns (Jurong West, Bukit Batok, Woodlands and Punggol). Of all the 24,300 BTO flats scheduled for completion in 2014, this was the first round. The following flats build under this exercise are located in various towns, such as Jurong West, Hougang, Bukit Batok, Punggol, Sembawang, Sengkang, Toa Payoh, Woodlands, Yishun, Tampines and Kallang Whampoa.

The 3,000+ brand new flats launched in January are SAs (Studio Apartments), 2-room, 3-room, 4-room and 5-room flats, as well as 3Gen flats, all of which are guaranteed to cater to the various needs of would-be buyers.

From this launch forward, Singapore’s Housing and Development Board has also introduced standard eco-features in all the new housing developments, such as eco-pedestals installed in bathrooms to recycle water for toilet flushing, CCRs (Centralized Chutes for Recyclables) and energy-efficient regenerative elevators. The new projects also feature more wheel ramps and covered bicycle parking lots, which will aid in modes of transportation. These standard features will assist in managing water, waste and energy more effectively.

Priority flat allocation will continue to be given to first-timers. A minimum of 70 percent of all 2-room and 3-room flats, as well as a minimum of 85 percent of all 4-room and 5-room flats of the total BTO flat supply in non-mature estates are set aside for them. First-timer singles are eligible for 2-room flats located in Woodlands Glen or Punggol Vue.

Punggol BayView offers an attractive option for couples that are either married or living in partnership and wish to apply for a 3Gen flat together with parents, such flats being available to this category of buyers there. Other types of multi-generation families that would like to live together in the same BTO flat are invited to apply under the MGPS (Multi-Generation Priority Scheme). For this purpose, there are several flats set aside in estates such as Punggol Vue, Punggol BayView, Woodlands Glen, Bukit Gombak Vista.

Furthermore, half of the SA supply in Golden Ginger, Golden Lavander and Bukit Gombak Vista are reserved for elderly would-be buyers applying under the SAPS (Studio Apartment Priority Scheme).

The Singaporean government offers up to S$ 60,000 in housing subsidies composed of the Additional CPF Housing Grant (AHG), which can be up to S$ 40,000, and the Special CPF Housing Grant, which can be of up to S$ 20,000. Using these grants, 2 to 5-room flats are priced from S$ to roughly S$ 383,000.

Source by Justin Ang

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