The Housing and Development Board (HDB) launched a total of 4,126 Build-to-Order (BTO) flats for sale on February 21, 2024, as part of the first of three BTO launches for the year. The seven BTO projects on offer are located in Bedok, Choa Chu Kang, Hougang, Punggol, Queenstown, and Woodlands.
Prices
The BTO flats have a waiting time of less than three-and-a-half years, with two-room to five-room flats available. A total of 19,600 new flats will be launched in 2024, and HDB will be holding three BTO sales exercises this year, with the other two taking place in June and October.
A total of 1,588 sale of balance flats (SBF) are also available for purchase, and all new flats are priced with “significant market discounts” and selling prices are “considerably lower” than the transacted prices of comparable resale flats. Monthly mortgage payments can be serviced using CPF monthly contributions without cash payments.
Prices of flats in non-mature estates such as Choa Chu Kang 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 BTO PLH flats are priced lower than comparable resale flats, considering the location, individual flat attributes, and prevailing market conditions.
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.
The SBF units are also heavily subsidized 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.
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. Those who are interested can apply online via the HDB Flat Portal from Feb. 21 to 28, 2024. Applicants 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.