February 2023 BTO exercise sees 4,428 flats launched for sale

HDB launches 5,168 flats for sale in August 2021 BTO exercise

The February 2023 Build-To-Order (BTO) exercise from HDB has launched 4,428 flats for sale, spread The Myst across five sites in four locations – Queenstown, Kallang and Whampoa, Jurong West and Tengah. With two of the sites designated as Prime Location Public Housing (PLH) projects, this exercise may impact the demand for the BTO flats.

Christine Sun, senior vice president of research and analytics at OrangeTee & Tie, believes that higher CPF housing grants may lead to some shifting of demand to the resale market. This may be in part due to higher subsidies being given, resulting in more eligible buyers looking to purchase at popular, mature estates or bigger flats. Additionally, some families may wait until the August BTO exercise, when they may be eligible to receive an extra ballot.

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The first PLH project – Ulu Pandan Glades – is located close to the Dover MRT Station, and offers 732 three and four-room flats. Indicative prices begin from $372,000 for a three-room flat, and up to $541,000 for a four-room flat, excluding grants.

The second PLH project of Farrer Park Fields will offer 1,274 two-room flexi, three and four-room flats. Prices begin from $185,000 for a two-room flexi unit, to $484,000 for a four-room flat.

The remaining available BTO sites include two in Kallang and Whampoa, and one each in Jurong West and Tengah. The Kallang site offers 510 units across two 40-storey blocks, with prices starting from $326,000 for a three-room flat, and up to $459,000 for a four-room flat. The Jurong West site includes two 18-storey blocks, with 271 units of three and four-room flats, starting from $187,000 for a three-room and up to $288,000 for a four-room flat. Lastly, the Tengah site – the largest in the BTO exercise – offers five-room, three and four-room as well as two-room flexi flats, with prices starting from $97,000 for a two-room flexi unit, up to $401,000 for a five-room unit.

Consultants have indicated that the Farrer Park Fields and Ulu Pandan Glades projects may be popular due to their location, amenities, and access to MRT stations. The Jalan Rajah site may also draw strong attention given is near Toa Payoh Central, while the Tengah site could benefit from the upcoming relocation of ACS Primary to the area in 2030. Meanwhile, the Jurong West BTO exercise could prove challenging due to its small number of flats.

Overall, with these five sites, the February 2023 BTO exercise offers potential homeowners a range of options, with prices to suit varying budgets.