SINGAPORE — The Housing and Development Board (HDB) has launched a total of 10,209 flats for sale during its July Build-To-Order (BTO) sales exercise, according to a press release on 23 July 2024. This includes 5,547 BTO flats and 4,662 Sale of Balance (SBF) flats, catering to a wide range of homebuyers.
Key Details of the Launch
- Waiting times for seven out of ten BTO flats are four years or lower.
- 1,396 units at Clementi Emerald and Bangkit Breeze have a waiting time of less than three years.
- Sembawang Beacon marks the first project in the new Sembawang North area, featuring 775 flats with a three-year wait.
Affordability Measures and Subsidies
HDB has prioritised affordability in its pricing strategy. The newly launched flats are priced significantly lower than comparable resale flats, with market discounts applied to all new flats. Prime flats, which have higher market values, will receive additional subsidies to maintain accessibility.
The selling prices for these flats vary based on size and location:
- Prices for two-room flexi flats start around S$148,000.
- Three-room flats range between S$267,000 and S$323,000.
- Four-room flats are priced from S$328,000 to S$413,000.
- Five-room units cost between S$487,000 and S$586,000.
Policy Changes to Support Buyers
In an effort to make homeownership more attainable, several policy changes have been introduced:
- The Family Care Scheme now provides priority access to first-timer buyer families wishing to live closer together.
- Fresh Start Housing Grant has been enhanced from S$50,000 to S$75,000 for eligible second-timer families.
- Application processes for couples have become more lenient concerning income assessments, allowing only one party to meet the criteria of being a full-time student or National Serviceman.
Looking Ahead
Applications for these flats will be accepted online via the HDB Flat Portal until 30 July 2024. Future BTO exercises in October will see approximately 9,100 more flats available across various locations including Ang Mo Kio and Jurong East.
With the measures and flat offerings during this exercise, HDB aims to support Singaporeans in achieving their dream of homeownership.