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HDB launches more than 6,700 flats

HDB launches more than 6,700 flats.

Would-be home buyers keen to live near the city have been given a second shot at balloting for a new flat in Kallang/Whampoa. Almost 600 units in this town have been made available in the Housing Board's latest sales exercise, launched yesterday - the second time in a row that flats in a mature HDB town are being offered.

As in February's sales exercise, the Kallang/Whampoa flats will probably be the most sought-after. The last exercise had nine families competing for each of the 855 three-and four-room flats.

As of 5pm yesterday, 55 families had applied for 150 two-room flexi flats; 82 for 115 three-room flats; and 626 for 318 four-roomers. In all, there were 763 applications for 583 flats. The last day to apply for these flats is Tuesday next week.

Prices at this project, Kempas Residences, start from $117,000 for a two-room flexi flat to $562,000 for a four-room flat, before factoring in government grants.

ERA Realty key executive officer Eugene Lim foresees high demand from second-timers for the Kallang/ Whampoa flats, which are located beside Boon Keng MRT station. But Huttons research head Lee Sze Teck pointed out that prices for these flats are some 60 to 70 % higher than for other Build-To-Order (BTO) offerings in non-mature estates.

In all, the HDB launched 6,753 flats yesterday, including 3,485 BTO flats across four projects in three public housing estates.

The bulk of the BTO flats are in the new Garden District in the upcoming "forest town" of Tengah in western Singapore, with 1,193 units on offer. Another 987 units will be at the nearby Plantation District. The other project is in Woodlands, with 722 units. The remaining 3,268 flats are leftovers from previous exercises, spread across the island.

About 28 % of these balance flats are complete, while the rest are under construction. The next sales exercise will be in August, during which 3,300 flats in Punggol and Tampines will be offered. There will also be a Re-Offer of Balance Flats (ROF) exercise at the same time.

In November, there will be about 4,500 flats up for sale in Ang Mo Kio, Tampines and Tengah. There will also be another Sale of Balance Flats exercise then. From next month, flat buyers can book unselected ROF units from an open pool at any time of the year, with more details to be announced at a later date.

Adapted From The Straits Times, May 23 2019