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NEW BTO LAUNCH IN OCTOBER: PRICES AND COMPLETION DATES

HDB Unveils Record-Breaking Number of Projects in October 2024 BTO Launch

On October 16, 2024, the Housing and Development Board (HDB) of Singapore announced an unprecedented launch of 8,573 flats across 15 projects during its latest Build-To-Order (BTO) exercise. This initiative is part of a newly introduced flat classification framework aimed at enhancing homeownership accessibility for Singaporeans. The latest offering represents the largest number of projects ever launched in a single BTO exercise, accounting for over 40% of the total new HDB flat supply for the year.

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The new classification framework includes Standard, Plus, and Prime flats, with Plus and Prime flats benefiting from additional subsidies beyond the standard market discounts. This strategic move is designed to make homeownership more affordable for a broader spectrum of the population. For instance, eligible first-time homebuyers from lower-to-middle income brackets can now access the Enhanced CPF Housing Grant (EHG), which has been increased to a maximum of $120,000 for families and $60,000 for singles.

Among the flats launched, 70% are expected to have waiting times of four years or less, with many projects offering even shorter waiting periods. Notably, the 2-room Flexi flats are available for first-time singles across various locations, expanding their options significantly compared to previous launches where they were restricted to non-mature estates.

TownProjectFlat TypeSelling Price
(Excluding Grants)
Selling Price
(Including Grants)
Transacted Prices of
Resale Flats Nearby #)
Standard Projects
Bukit BatokWest BrickVille @ Bukit Batok~2-room
Flexi
From $140,000From $20,000$303,000 – $380,000
3-roomFrom $247,000From $142,000$450,000 – $488,000
4-roomFrom $335,000From $255,000$555,000 – $648,888
5-roomFrom $496,000From $441,000$630,000 – $828,888
3GenFrom $529,000From $474,000
Jurong WestTaman Jurong
Skyline
2-room FlexiFrom $109,000From $6,000*$305,000 – $355,000
3-roomFrom $209,000From $104,000$450,000 – $480,000
4-roomFrom $290,000From $210,000$563,000 – $680,000
5-roomFrom $427,000From $372,000$680,000 – $712,888
3GenFrom $465,000From $410,000
Pasir RisCosta Riviera I & II2-room FlexiFrom $194,000From $74,000$388,000 – $430,000
3-roomFrom $329,000From $224,000$525,000 – $540,888
4-roomFrom $481,000From $401,000$612,000 – $745,000
5-roomFrom $635,000From $580,000$825,000 – $843,000
3GenFrom $644,000From $589,000
SengkangFernvale Oasis~

Fernvale Sails~ 
2-room FlexiFrom $126,000From $7,000*
3-roomFrom $277,000From $172,000$440,000 – $515,000
4-roomFrom $324,000From $244,000$526,000 – $668,000
5-roomFrom $465,000From $410,000$640,000 – $790,000
WoodlandsMarsiling Ridge4-roomFrom $329,000From $249,000$560,000 – $696,000
5-roomFrom $488,000From $433,000$680,000 – $826,000
Plus Projects
Ang Mo KioCentral Trio @ AMK2-room FlexiFrom $187,000From  $67,000
4-roomFrom $481,000From  $426,000$740,000 – $915,888
BedokBayshore Vista

Bayshore Palms

Kembangan Wave
2-room FlexiFrom $190,000From  $70,000
3-roomFrom $369,000From  $279,000$605,000 – $663,000
4-roomFrom $453,000From  $398,000$728,000 – $930,000
GeylangMerpati AlcoveCCA+
(30-year Lease)
From $102,000From  $6,000*
4-roomFrom $530,000From  $475,000$878,000 – $1,080,000
Kallang / WhampoaKallang View

Towner Breeze
2-room FlexiFrom $216,000From  $96,000
3-roomFrom $388,000From  $298,000$780,000 – $820,000
4-roomFrom $522,000From  $467,000$868,000 – $1,200,000
Prime Projects
Kallang / WhampoaCrawford Heights3-roomFrom $390,000From  $300,000
4-roomFrom $568,000From  $513,000$890,000 – $938,000

The pricing strategy for these new flats is designed to ensure affordability. The selling prices are set significantly lower than the market rates for comparable resale flats, with Plus and Prime flats receiving additional subsidies to maintain their accessibility. For example, a 3-room Standard flat in West BrickVille is priced at $290,000, which translates to just 16% of a household income of $4,000, allowing buyers to service their mortgage payments primarily through their CPF contributions.

To further support buyers, HDB has implemented tighter resale conditions for Plus and Prime flats, requiring owners to occupy their units for a minimum of 10 years before selling. This measure aims to ensure that these flats are used for genuine owner-occupation rather than investment purposes. Additionally, a subsidy recovery mechanism will be in place, where owners will need to return a percentage of the resale price to HDB upon selling their flats after the minimum occupation period.

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In a bid to cater to diverse housing needs, HDB is also piloting a new concept called “White flats” at the Crawford Heights Prime project. These units will offer buyers the flexibility of an open-concept living space, allowing for greater customization at a reduced price.

The October 2024 BTO exercise reflects HDB’s commitment to providing affordable housing options while adapting to the evolving needs of Singaporeans. With plans to launch a total of 100,000 flats from 2021 to 2025, HDB continues to monitor housing demand closely and adjust its offerings accordingly. Interested applicants are encouraged to apply online during the designated application period, ensuring they have the necessary eligibility documentation in place.

As Singapore navigates its housing landscape, the HDB’s proactive measures aim to foster a more inclusive environment for homeownership, ensuring that all citizens have the opportunity to secure a place they can call home.

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