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HDB Launches 2 New Build-To-Order Projects


-- 2010-01-07 09:39:18


HDB is launching two new BTO projects today, Limbang Green in Choa Chu Kang and Buangkok Vale in Hougang, offering a total of 1,291 standard flats. The flat supply comprises 276 units of Studio Apartments, 128 units of 2-room, 241 units of 3-room and 646 units of 4-room flats. 95% of the 2-, 3- and 4-room flats will be set aside for First-Timers. Flat details for Limbang Green and Buangkok Vale are in Annex A (17KB).

LIMBANG GREEN

2         Limbang Green(497KB) will have 592 standard flats, comprising 276 units of Studio Apartments, 128 units of 3-room flats and 188 units of 4-room flats. Conveniently located along Choa Chu Kang Drive, it is served by Yew Tee MRT station. The Kranji Expressway (KJE), Bukit Timah Expressway (BKE) and Pan-Island Expressway (PIE) also provide connectivity to the rest of Singapore. Nearby commercial facilities include Limbang Shopping Centre and Yew Tee Square. Community facilities such as Yew Tee Community Club, Choa Chu Kang Swimming Complex, Choa Chu Kang Sports Hall and Choa Chu Kang Stadium are also within walking distance. There are also primary and secondary schools in the area.

BUANGKOK VALE

3         Buangkok Vale(418KB) offers 699 standard flats, comprising 128 units of 2-room flats, 113 units of 3-room flats and 458 units of 4-room flats. Situated in Hougang town, it is bounded by Buangkok Green and Yio Chu Kang Road and served by two MRT stations, Hougang and Buangkok, as well as the Hougang Bus Interchange and the Central Expressway (CTE). Residents can enjoy commercial facilities at Hougang Mall and Hougang Plaza at the Town Centre and also at neighbourhood centres such as Central Place and Hougang Green Shopping Mall. Other communal facilities include the Hougang Swimming Complex, Hougang Sports Hall and Hougang Stadium. There are also primary and secondary schools in the area.

PRICING OF NEW FLATS AT LIMBANG GREEN AND BUANGKOK VALE

4         To keep public housing affordable for first-time homebuyers, new HDB flats are priced below their equivalent market prices. The market prices take into account the prices of resale flats in the area, adjusted for factors such as location, flat attributes, project design and prevailing market conditions, as determined by professional valuers.

5         The selling prices for the flats range from:

      Limbang Green

      $64,000 to $89,000 for a Studio Apartment;
      $140,000 to $169,000 for a 3-room flat; and
      $226,000 to $278,000 for a 4-room flat

      Buangkok Vale

      $88,000 to $111,000 for a 2-room flat;
      $142,000 to $182,000 for a 3-room flat; and
      $231,000 to $288,000 for a 4-room flat

6         The pricing details and resale comparables for Limbang Green and Buangkok Vale are in Annexes A and B.

7         In addition to enjoying a generous market subsidy on the selling price, eligible first-timers with an average monthly household income of $5,000 or less can also apply for the Additional CPF Housing Grant (AHG) of up to $40,000. The AHG can be used to offset the initial down-payment.

8         First-time flat buyers are expected to use 18% to 25% of their monthly household income to meet their monthly loan payments for flats in Limbang Green and Buangkok Vale (details are in Annex B(17KB)). As such, most of the new flat buyers can service their loan payments fully using their monthly CPF contributions (i.e. 23% of income). For example, a 4-room unit priced at $260,000 in Buangkok Vale requires a monthly installment of about $937. A family with a household income of $4,300 can service this fully from their CPF contributions without any cash outlay.

UPCOMING FLAT SUPPLY

9         Flat buyers can look forward to more BTO projects this year with about 12,000 new BTO flats, if there is sustained demand. In Feb 2010, HDB will be launching another 1,500 flats in Punggol and Woodlands. More details will be provided at their launch.

10         In addition, HDB on behalf of the Government will also be inviting tender for the sale of two Executive Condominum (EC) housing sites at Buangkok Drive and Yishun Ave 11, on 15 Jan 2010 (Fri). The tender will close on 4 Mar 10 (Thu) and 11 Mar 10 (Thu) respectively.

11         The Executive Condominium Housing Scheme (ECHS) was introduced in 1995 to meet the private housing aspirations of couples with household income of up to $10,000 a month. EC projects are strata-titled apartments with facilities comparable to private condominiums. New EC units are sold with initial eligibility and ownership restrictions similar to public housing, but are fully converted to private housing after 10 years. Eligible first-timers who purchase new ECs can also apply for a $30,000 CPF grant. More details will be provided at tender.

APPLICATION PROCEDURE

12         Applications for the new flats can be submitted online from 5 Jan 2010 (Tuesday) to 18 Jan 2010 (Monday). More details of the application procedures and BTO Exhibition can be found in Annex C(17KB).

ENQUIRIES

13         For enquiries, the public can:
      - E-mail hdbsales@hdb.gov.sg;
      - Call the Sales/Resale Customer Service Line at 1800-866 3066 on weekdays from 8 am to 5 pm; or
      - Visit the HDB Sales Office to speak with our Customer Service Officers during office hours (Mon to Fri 8 am to 5 pm, Saturday 8 am to 1 pm).




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