A total of 4,126 Build-to-Order (BTO) flats were launched for sale on Feb. 21 under the Housing and Development Board (HDB) February BTO exercise, the first of three BTO launches for 2024.

The seven BTO projects on offer are in Bedok, Choa Chu Kang, Hougang, Punggol, Queenstown and Woodlands, HDB said in a press release.

Over 80 per cent of the BTO flats launched have a waiting time of less than three-and-a-half years.

Wide selection of flats for diverse needs

Two-room to five-room flats are available.

A total of 19,600 new flats will be launched in total in 2024.

HDB will be holding three instead of four BTO sales exercises this year.

The other two will take place in June and October.

A total of 1,588 sale of balance flats (SBF) are also available for purchase.

All new flats are priced with “significant market discounts” and selling prices are “considerably lower” than the transacted prices of comparable resale flats, HDB stated.

Monthly mortgage payments can be serviced using CPF monthly contributions without cash payments, HDB added.

In non-mature estates such as Choa Chu Kang, prices start at S$22,000 for a two-room flexi unit, S$127,000 for a three-room unit and S$240,000 for a four-room unit.

Mature estates such as Bedok offer two-room flexi units starting from S$75,000, while prices start at S$406,000 for a four-room unit and S$575,000 for a five-room unit.

Prices of flats at Queenstown start at S$155,000 for a two-room flexi unit and S$520,000 for a four-room unit under the Prime Location Public Housing Model.

These prices are after government grants, such as the Enhanced CPF Housing Grant (EHG) of up to S$80,000 for eligible first-timer families.

Tanglin Halt Courtyard is the only project in this launch to be offered under the Prime Location Public Housing (PLH) model.

These BTO PLH flats are priced lower than comparable resale flats, considering the location, individual flat attributes and prevailing market conditions, HDB said.

Given that they naturally command higher market values, these PLH flats will be priced with additional subsidies on top of the substantial market discounts applied across all BTO flats, HDB added.

A total of 20 per cent of the flats at Tanglin Halt Courtyard will be set aside for first-timer families and 2 per cent for second-timer families under the Married Child Priority Scheme.

This is two-thirds of the usual quota for BTO flats in mature estates, HDB said.

1,588 SBF units launched

A total of 1,588 flats across various estates are also available for purchase under the SBF exercise.

About 12 per cent of the flats have been completed, while the rest are in various stages of construction.

The SBF units are also heavily subsidised and priced lower than comparable resale flats.

Similar to the EHG for BTO units, buyers can benefit from grants up to S$80,000.

Prices start at S$8,000 for a two-room flexi unit in non-mature estates, while prices in mature estates start at S$73,000.

Some of the SBF units are located in Ang Mo Kio, Clementi, Yishun and Sengkang, according to the HDB website.

HDB has also extended the seven-day application window to eight days with effect from the February 2024 BTO exercise, to allow more time for applicants to make an informed choice.

How to apply

Those who are interested can apply online via the HDB Flat Portal from Feb. 21 to 28, 2024.

Applicants who wish to participate in the February 2024 BTO and SBF exercises must have a valid HDB Flat Eligibility (HFE) letter when they submit their flat application.

The processing time for an HFE letter application is one month and may take longer during peak periods like a BTO sales launch.

Applicants can apply for only one flat type or category in one town under either the BTO or SBF exercise.

Applicants will be shortlisted using a computer ballot, and not on a first-come-first-served basis.

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