The Housing & Development Board (HDB) launched 6,057 BTO flats for sale today (Dec. 5) across eight new projects in Bedok, Bishan, Bukit Merah, Bukit Panjang, Jurong West, Queenstown and Woodlands.
A wide selection of flats are offered, ranging from 2-room to 5-room flats, as well as Community Care Apartments (CCAs).
HDB also said in a press release that all new flats are priced with "significant market discounts" to ensure affordability.
Half of the flats to have wait times of 4 years or less
For the latest launch, about half of the flats on offer will have a waiting time of four years or less.
These flats are spread across four projects in both mature and non-mature estates.
For example, Jurong Arcadia in Jurong West has a wait time of three years and one month while Chai Chee Green in Bedok has a wait time of three years and three months.
Photo from HDB/Facebook
Those who want to move into their flats sooner can consider applying for the Shorter Waiting Time (SWT) project at Sin Ming Residences in Bishan, which has a waiting time of about two years and eight months.
Photo from HDB/Facebook
Subsidies for buyers of PLH model projects
HDB also announced that two projects, Alexandra Peaks in Bukit Merah and Ulu Pandan Vista in Queenstown — offered under the Prime Location Public Housing (PLH) model, will be priced with additional subsidies in order for the PLH flats to be priced lower than comparable resale flats.
Photo from HDB/ Facebook
HDB explained that new flats in prime locations typically command higher market values. The additional subsisidies keep the prices of PLH flats affordable for a wide range of Singaporeans.
To maintain fairness, however, these PLH flat owners will be required to pay HDB a percentage of the resale price of the flat upon selling it, after meeting the 10-year Minimum Occupation Period (MOP).
This is set at 8 per cent of the resale price or valuation, whichever is higher. It is a 2 per cent increase from past PLH projects.
Photo from HDB/ Facebook
The two PLH projects however, have the longest wait times of about four years and 11 months.
HDB advice to flat buyers
HDB also said that projects in the mature estates of Bedok and Bishan, as well as the non-mature estate of Bukit Panjang, will have a high application rate.
Photo from HDB/ Facebook
To improve their chances of securing a flat, applicants are encouraged to apply for a flat in the non-mature towns of Jurong West and Woodlands, where at least 95% of the 4-room and bigger flats are set aside for first-timer families.
Photo from HDB/ Facebook
To further increase their chances of securing a flat, applicants can also look out for projects with lower application rates via the HDB Flat Portal.
Applications are open from today (Dec. 5) until Dec. 11.
Looking ahead, HDB will be offering about 4,100 flats in Bedok, Queenstown, Choa Chu Kang, Hougang, Punggol and Woodlands in February 2024.
Top image credit: HDB