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On May 30th, HDB launched 5,495 Built-to-Order (BTO) flats across five neighbourhoods: Bedok, Kallang, Serangoon, Tengah and Whampoa. The most popular neighbourhood that had the highest number of applicants was Serangoon having more than 9 applicants per 4-room apartment and more than 13 applicants for 5-room flats, according to Lee Sze Teck, senior director of research at Huttons Asia.
The two Tengah BTOs had more than 5,000 applications for 3four and 5 room flats. According to Lee this is a lot more than that of the November 2022 BTO exercise where 2,077 units were put up to buyers in Garden Waterfront I and II in Tengah.
The greater number of applicants to the BTO flats in Tengah this May could be due to the proximity of the upcoming Anglo-Chinese School (Primary) which was reported to move from Barker Road to Tengah in February. The two new BTOs in Tengah that were launched in May are located near Tengah Town, says Lee.
The Housing Board on Tuesday released details of six projects it will launch in August. Three are located in Kallang-Whampoa. There is three projects located in Queenstown, Choa Chu Kang and Tengah.
The sites at Jalan Tenteram in Whampoa and Kallang Airport Way/Geylang were both given a land use changed by URA recently.
In Whampoa In Whampoa, the two BTO projects due to open in August are located at Jalan Rajah and Jalan Tenteram. Both BTOs are expected to be 40 stories in height, ensuring residents of high-floor apartments that they will have unobstructed views of the surrounding. Lee believes they will have high rates of use.
The BTO located at Kallang Airport Way/Geylang Road lies within walking distance to the Kallang MRT station on the East-West Line and the Singapore Sports Hub. The BTO will likely to be classified as a prime area for a public housing (PLH) project. Therefore, it is likely to receive the same response as the Kallang Horizon BTO launch last November, which had an average of 6.4 among first-time applicants.
The formerly Tanglin Halt flats sold via Selective En Bloc Redevelopment Scheme (SERS) were removed to create space for the planned BTO located at Queensway. Huttons’ Lee reckons it could be launched as an PLH since the BTO is situated between Ulu Pandan and Ghim Moh which are both which are both identified as PLH areas.
Additionally, Lee notes that several flats located at Blk 50 Commonwealth Road have changed hands with resales of more than $1 million. The government has designated the site within the region for residential and commercial usage, which will greatly improve the amenities available of the region.
The project that is most talked about for the upcoming November 2023 BTO exercise is located in the Bishan-SinMing neighborhood. “This BTO may be the first in an estate that was constructed prior to its planned launch date,” Lee says. Lee. The previous BTO launch in the region was the 945-unit Sin Ming Court, completed in 1988.
The estimated price for the Bishan-SinMing BTO could range between $525,000 and $650,000 in four-room flats, Lee reckons. Due to the “pent-up demand” and the shorter time to complete Lee anticipates to see a large number of applications of these apartments.