Singapore

Over 12,000 new HDB flats hit market yesterday

Over 12,000 new flats go on sale

More than 12,000 new flats hit the market yesterday as part of the Housing Board's largest sales exercise ever.

The bumper crop includes 7,061 Build-To-Order (BTO) flats in Toa Payoh's Bidadari, Choa Chu Kang, Sengkang, Bukit Batok, Hougang and Punggol.

Prices at Bidadari start from $418,000 for four-room flats and $534,000 for five-room flats including grants.

The other 5,350 units are balance flats not sold in previous exercises. They are offered in areas such as Ang Mo Kio, Bishan, Jurong East and Woodlands.

Prices for these balance flats in mature estates, including grants, start from $284,000 for four-room flats and $338,000 for five-room flats.

This month's launch brings the total BTO supply this year to 15,100 flats. Including balance flats, HDB has offered 25,837 flats for sale this year.

This bumper launch also sees the introduction of the new two-room flexi scheme, which allows elderly residents to choose two-room flats with shorter leases. This merges and replaces the studio apartment and two-room flat schemes.

For the current BTO exercise, HDB will offer 2,093 two-room flexi flats in Bidadari, Choa Chu Kang, Punggol and Sengkang.

HDB said that at least 40 per cent of the supply of two-room flexi flats in a BTO project, subject to a minimum of 100 units, will be set aside for those aged 55 and above.

Half of this quota will be set aside for the elderly who apply for a unit near their current flat or near their married child under a new Senior Priority Scheme, said the HDB.

National Development Minister Lawrence Wong noted that the new two-room flexi units make up almost 30 per cent of the BTO flat supply and are offered in five of the six towns in this exercise.

"This will help ensure a broad range of options and locations to meet demand," he said in a Facebook post yesterday.

"Buying a home is a key life decision and significant investment," Mr Wong added.

"We know that needs and preferences vary. This is why HDB consciously provides a wide range of choices - in location, flat type and price - to cater for different budgets and needs." - The Straits Times.

Buying a home is a key life decision and significant investment. We know that needs and preferences vary.

- National Development Minister Lawrence Wong