SINGAPORE: The Housing and Development Board (HDB) has launched 6,992 flats for sale under the May 2018 Build-to-Order (BTO) and Sale of Balance Flats (SBF) exercise, it said in a press release on Tuesday (May 22).
Of the total, 3,970 are BTO units and 3,022 are SBF units across various towns and estates, HDB added.
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BTO EXERCISE
The BTO flats are spread across four projects - two of which are in the non-mature towns of Sengkang and Yishun and another two in the mature towns of Toa Payoh and Tampines.
Eligible first-timer families can enjoy up to S$80,000 of housing grants, comprising the Additional CPF Housing Grant (AHG) (up to S$40,000) and the Special CPF Housing Grant (SHG) (up to S$40,000).
"With these grants, buyers of 2-room Flexi, 3-room, 4-room and 5-room flats could pay as little as S$4,000, S$112,000, S$196,000 and S$330,000 respectively," HDB said.
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SBF EXERCISE
In addition to the BTO flats, HDB will also offer 3,022 balance flats under the SBF exercise.
"They comprise 754 units of 2-room Flexi, 655 units of 3-room, 1,143 units of 4-room, 305 units of 5-room, 157 units of 3Gen and 8 units of executive flats across various towns/estates," HDB said.
The majority of the flats offered under the SBF exercise are reserved for first-timer families. Eligible first-timer singles may also apply for a 2-room flexi flat in non-mature towns.
Application for new flats launched in the May 2018 BTO and SBF exercises can be submitted online on the HDB InfoWEB from May 22 until May 28, HDB said.
HDB said it will offer about 4,300 flats in Punggol and Yishun in August 2018.
Artist's impression of Casa Spring Yishun. (Image: HDB)
Artist's impression of Tampines Greenvines. (Image: HDB)
HDB Built-To-Order and Sale of Balance Flats is now available for balloting from 22 to 28 May.
With about 3,970 Built-To Order (BTO) flats in a variety of locations – including rarely-seen Toa Payoh – there are compelling choices that is worth your careful consideration, if you’re in the market for a BTO flat.
If you aren’t sure of what you need to know before choosing a BTO flat, you can refer to our handy Step-By-Step Guide To Buying Your First BTO Flat.
Non-Mature Estates
# 1 Fernvale Dew (Sengkang) – 1,188 Units, Location: Near The Topiary, Nearest LRT Station: Fernvale (2-room Flexi, 3-room, 4-room & 5-room)
Source: HDB
This development has 1,188 units of various sizes available, namely 2-room Flexi, 3-room, 4-room and 5-room flats.
Our Analysis:
This development pretty well-connected. It will take you about 15 to 20 minutes to reach Sengkang MRT station. Fernvale LRT station is nearer and can be reached with about 10 to 15 minutes of walking. Right in front of this HDB development, there is already a bus stop served by multiple buses.
Tampines Expressway (TPE) and Seletar Expressway (SLE) are minutes away, though you can expect traffic during peak hours to be quite heavy.
In terms of amenities, Seletar Mall is about a 10-minute walk away while Greenwich V is slightly nearer and can be reached in less than 10 minutes.
# 2 Casa Spring @ Yishun – 969 Units, Location: Near GEMS World Academy Singapore (2-room Flexi, 4-room, 5-room & 3Gen)
Source: HDB
This large sprawling site on the outskirts of Yishun will be home to 969 households. The size of units available are from 2-room Flexi to the popular (but increasingly rare) 3Gen units.
Our Analysis:
If you value being close to nature over convenience, then this estate is for you. After all, Orchid Country Club is nearer than Yishun or Khatib MRT stations, both of which are at least 2 km away. If you’re taking the bus, your commute to the nearest MRT station would be at least 20 minutes.
Though classified as a non-mature estate, Yishun town is actually pretty well-developed. You don’t have to leave Yishun to access markets, schools, parks and even Khoo Teck Puat hospital. The expansion of Northpoint into Northpoint City means there are plenty of food and shopping options for would-be Yishun residents.
If you work in the northern region of Singapore, or would like your abode to be away from the hustle and bustle of the city, then this location might make sense. With prices being correspondingly lower, a unit here could offer great value in the long-term.
Read Also: 5 Ways To Spend Less On Your First BTO Flat
Mature Estates
# 3 Tampines GreenVines – 1,271 Units, Location: Near Tampines Ave 12 (3-room, 4-room & 5-room)
Source: HDB
For the third BTO sales launch in a row (after November 2017 and February 2018), the area near Tampines Avenue 12 continues to expand with even more new HDB flats. This time, about 1,271 units will be up for grabs, with flat sizes ranging from 3 to 5 rooms.
Our Analysis:
This area used to be a mountain bike trail that straddles Tampines and Pasir Ris MRT stations, and it sits beside an on-ramp to Tampines Expressway. Location wise, it is about a 20-minute walk to Tampines MRT, so taking a feeder bus is probably going to be necessary for most residents, , unless you are one of the few people who like a morning/evening walk.
Even though Tampines is classified as a mature estate, in our opinion, this new frontier of Tampines has more in common to the likes of new towns like Punggol and Sengkang. With the entire area currently being developed though, it is a matter of time before more amenities are available and greater transport connectivity is established.
Ever since the Downtown Line is operational, Tampines residents are already enjoying the flexibility to choose between two different lines to bring them into the Central Business District (CBD).
# 4 Kim Keat Beacon (Toa Payoh) – 542 Units, Location: Near Kim Keat Avenue (3-room & 4-room)
Source: HDB
This 542-unit development is launched right in the middle of Toa Payoh, which is a rare treat, as far as BTO launches are concerned.
Our Analysis:
Being situated next to Kim Keat Avenue, this development is easily accessible from both the Pan-Island Expressway and Central Expressway.
Amenities in the surrounding area include SAFRA Toa Payoh, Toa Payoh Sports Complex (consisting of a swimming pool, sports hall and stadium), a town park and a library.
Toa Payoh residents enjoy great convenience as far as the MRT is concerned, with places like the Central Business District, Orchard and Bishan no more than a few stations away.
Fully Utilise The Grants You Are Eligible For
Before deciding on your choice of location, you should also consider the various grants that you may be eligible for, as the selection of your flat may affect the amount of grants that you are entitled to.
Once you’re ready to apply, you can head over to the HDB website. All the best!
Read Also: Complete Guide To HDB Housing Grants In Singapore
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There’s usually a project or two in every HDB BTO launch that gets everyone excited. In May 2017, the Dakota flats were on everyone’s lips for how strategically located they were. Then, in February, applicants took fancy at the Teck Whye BTO flats, classified as a non-mature project (which makes it cheaper) but very accessible to the CBD via the new Downtown MRT line.
Looking at the HDB May 2018 BTO projects, very few positives stand out. We look at the pros and cons of the four projects in Toa Payoh, Tampines, Sengkang and Yishun in detail, so you can decide whether to even part with the $10 application fee — or instead go for a resale flat at any location you want.
May 2018 BTO Launch: Toa Payoh
Pros:
Within 1km of Pei Chun Public School, a popular primary school with parents who want their children to master the Chinese language from an early age
Within 1km of St. Andrew’s Junior School (part of the larger St. Andrew’s campus, which includes a secondary school and a junior college)
Cons:
Mature estate pricing, yet some distance away from key amenities such as Toa Payoh Central and MRT
Highway noise pollution from the Central Expressway (CTE) and Pan-Island Expressway (PIE)
Worshippers from nearby places of worship might cause traffic congestion, especially on weekends or during festivals
Our take:
HDB classifies estates into mature and non-mature, which doesn’t always make sense (e.g. the Bidadari BTO projects are classified as part of a mature estate when the area had, until recently, been a cemetery).
The thing is: BTO flats in mature estates come with a price premium. To many buyers, this price premium should only be justified if the project is within walking distance to the estate’s key amenities such as the MRT station or civic centre.
Not only is the Toa Payoh site a good 15-minute bus ride from the town centre and Toa Payoh MRT, it’s actually nearer to Potong Pasir MRT if you only take distance into account. (By the way, you can only get to Potong Pasir MRT on foot; it’s a 20-minute walk.)
Besides ulu-ness, future residents also have to deal with noise pollution and congestion issues. Unless you’re an extremely heavy sleeper who doesn’t get bothered by noise, you probably won’t appreciate that these flats are to be built right next to not just one, but TWO expressways — the PIE and CTE.
And just when you think proximity to expressways will get you home on a cab faster, note that the highway exit at Kim Keat Link is notorious for traffic congestion. Besides, you might find yourself jostling for space with worshippers at nearby places of worship on weekends and during festivals.
Indicative price range (after grants) for May 2018 BTO flats in Toa Payoh:
3-room: $225,000 – $292,000
4-room: $375,000 – $463,000
Verdict: If you want to live in Toa Payoh and can afford to wait, wait for soon-to-come BTO projects at Caldecott instead. If you really want to seriously consider this project, go up a nearby block that’s next to the PIE and hear the noise for yourself before you decide.
May 2018 BTO Launch: Tampines
Pros:
Near Tampines Ikea, Courts and Giant
Near to several parks
Large plot may mean bigger and better recreational amenities, such as playgrounds
Cons:
Mature estate pricing in an yet-to-be-developed area
Far from all three MRT stations in Tampines
Noise pollution for flats facing the Tampines Expressway (TPE)
Our take:
Similar to the Toa Payoh project, the upcoming BTO in Tampines has a less-than-ideal location. It’s just as far from the town centre and MRT and is close to the TPE, although the large site will spare a large number of households from the full onslaught of highway noise. Another saving grace is the presence of several parks in the vicinity; we can foresee families grabbing supplies from the nearby Giant hypermarket and having weekend picnics near home.
An important point to note for those who intend to sell soon after MOP: this area is being built up all at once with BTO flats, so expect intense seller competition if you intend to offload your BTO within 10 years.
Indicative price range (after grants) for May 2018 BTO flats in Tampines:
3-room: $190,000 – $237,000
4-room: $307,000 – $358,000
5-room: $422,ooo – $495,000
Verdict: A decent place for long-term living, provided you get a good queue number.
May 2018 BTO Launch: Sengkang
Pros:
Non-mature estate pricing
Many existing and proposed amenities around Fernvale LRT
Near to Jalan Kayu (for prata lovers)
Cons:
Far from Sengkang Central
Depending on block and stack facing, residents may have to endure traffic congestion and noise/light/smoke pollution due to a nearby place of worship, especially around late-September, early-October every year (Nine Emperor Gods Festival)
Our take:
Although this upcoming BTO site is within Sengkang by name, future residents probably won’t see the need to go to Sengkang town centre. Firstly, those working in the CBD would have a faster commute by taking the bus from Yio Chu Kang Road to Serangoon MRT. Secondly, for daily needs and recreation, the vicinity around Fernvale LRT will have it all, complete with a community club integrated with a wet market, childcare centre and, lo and behold, a hawker centre! Seems like the government wants to bring back the good old heartland vibe to Fernvale.
For movie fanatics and prata lovers, their fix is just 10 minutes walk away, at Seletar Mall and Jalan Kayu respectively.
Indicative price range (after grants) for May 2018 BTO flats in Sengkang:
2-room flexi: $3,000 (40-year lease), $4,000 (99-year lease)
3-room: $112,000 – $227,000
4-room: $219,000 – $342,000
5-room: $357,000 – $426,000
Verdict: Not very accessible to the CBD, but self-sufficient enough for daily needs, entertainment and the occasional prata fix.
May 2018 BTO Launch: Yishun
Pros:
Close to nature; near to Lower Seletar Reservoir Park
Most affordable project of the May 2018 BTO
Cons:
Far from the nearest MRT station, Khatib
Far from the nearest town centre, Yishun
Far from everything, basically
Our take:
This upcoming BTO project in Yishun is near to Lower Seletar Reservoir, which may be the only thing other than price that appeals to applicants. The site is extremely far from the rest of civilisation and many of the roads bordering the project haven’t even been built yet.
Also, if you’re intending to sell soon after MOP, note that the site is surrounded by new BTO projects that will also MOP at around the same time.
Indicative price range (after grants) for May 2018 BTO flats in Yishun:
2-room flexi: $3,000 (40-year lease), $4,000 (99-year lease)
4-room: $196,000 – $295,000
5-room and 3Gen: $330,000 – $386,000
Verdict: If price is your biggest concern and location doesn’t matter, this BTO project is for you.
Looking at the upcoming BTO projects, is a resale flat the better choice?
Given the lack of standout options in the May 2018 BTO launch, we wouldn’t be surprised if citizens, especially couples, eschew all four projects and decide to purchase a resale flat instead.
Yes, resale flats are more expensive, but they also come with several perks. For one, these flats will appeal to couples who want to get married and live together ASAP (without having to repeatedly endure the disappointment of BTO ballot results). On top of that, those who opt for resale flats can pick any location they desire and, speaking of location, there’s ample supply of resale flats near key amenities. We don’t know about you, but taking even 10 minutes off our commutes is a huge bonus in our books.
Perhaps, most importantly, waiting for a BTO to be built is an opportunity cost that sometimes can’t be quantified. For couples, being able to settle down and set up a family earlier is priceless. For singles, having their own space for their own pursuits is worth its weight in gold. What this means is, as long you see the value in having a home to call your own, you should never write off buying a resale flat.
If you found this article helpful, 99.co recommends 3 important questions to consider when buying resale HDB as your 1st home and Things you should consider when buying an older HDB resale flat.
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