Singapore

HDB launches BTO flats in Punggol and Tampines

The Housing Board (HDB) launched 4,089 flats for sale yesterday, a day after higher grants and higher income ceilings for flat buyers were announced.

A total of 3,373 Build-To-Order (BTO) flats in Punggol and Tampines are up for sale, and they include flats ranging from two-room flexi to five-room units.

Prices start from $109,000 excluding grants for a two-room flexi flat in Punggol, and from $312,000 for a four-room flat in Tampines.

The sales exercise had been pushed from last month to this month to allow more home buyers to benefit from the latest changes, which include raising the income ceiling for Singaporeans to buy HDB flats by $2,000 to $14,000.

NEW GRANT

Another major change is the new Enhanced Central Provident Fund Housing Grant (EHG) of up to $80,000.

It replaces two previous grants but allows more people to benefit as it has a higher income cap and does not impose any restrictions on the flat size or location.

With the EHG - given to first-timer families earning $9,000 and less - buyers can purchase a two-room flexi flat in Punggol for as little as $29,000 after housing grants.

Huttons Asia research director Lee Sze Teck expects the two sites in Punggol - Punggol Point Crown and Punggol Point Cove - to be more popular, as they are near the future Punggol Coast MRT station and near the coast, "where they can get an unblocked view of the sea".

But he added that he did not think there would be a significant spike in applicants just because of the new announcements.

PropNex chief executive Ismail Gafoor said the "strategically located" Tampines GreenGlen is likely to see more than eight applicants for each of its 649 units. Also, bigger units may be more popular, given the higher grants.

Also up for sale are 716 Re-Offer of Balance Flats across various towns in mature and non-mature estates.

These are unsold flats from the sales exercise last November. About 12 per cent of these homes are already completed, while the rest are being built.

The application process ends on Tuesday.

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Property