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From the very first sales exercise of this calendar year, the Housing and Development Board (HDB) established 3,740 Build-to-Order (BTO) apartments on Thursday (4 February) — the biggest February launch since 2017 when roughly 4,000 apartments were provided.
The apartments are spread throughout seven home projects from the non-mature cities of Tengah and Bukit Batok along with the older towns of Kallang/Whampoa and Toa Payoh (Bidadari).
Place to be completed in Q2 2024, these apartments include compulsory service bundle, including basic medical checks, 24-hour emergency tracking and response in addition to easy home repairs.
The remaining flats vary from two-room Flexi into five-room apartments.
Flats inside the older property are priced from $312,000 to get a three-room unit at Toa Payoh to $611,000 to get a five-room unit in Toa Payoh, excluding licenses.
Those from the non-mature Rewards move from $101,000 to get a two-room Flexi unit at Bukit Batok to $384,000 to get a five-room unit in Bukit Batok.
Analysts anticipate the apartments in Kallang/Whampoa and Toa Payoh to become heavily oversubscribed, provided their prime city fringe locations and near proximity to MRT stations.
“The brand new apartments in McNair Heights in Kallang/Whampoa is going to be sought-after going by preceding BTO program fad. The BTO practice in May 2019 for Kempas Residences at Kallang/Whampoa saw overwhelming need, using a subscription rate of 5.4 occasions and 15.6 occasions for its 3-room and 4-room apartments, respectively,” explained PropNex CEO Ismail Gafoor.
He anticipates McNair Heights to appeal to families seeking to reside”at a more convenient place amid the hustle and bustle of being close to the city”.
Lee Sze Teck, Director of Research in Huttons Asia, however, noticed that while the apartments’ city fringe area is appealing, they have a”long ending period of five years”.
“That may change prospective candidates into the resale marketplace,” he explained.
The three to four decades conclusion interval for the BTO apartments in Toa Payoh is fair, noted Lee.
“We expect them to bring many applicants including those who have been concerned about the longer construction periods in previous launches. The subscription fee could vary from 4 to 10,” he explained.
Of those three BTO plots provided, Alkaff Breeze is nearer to the Woodleigh MRT station, whereas Bartley GreenRise and ParkEdge @ Bidadari are close the Bartley MRT station.
“The proximity to an MRT station, the coming Woodleigh Mall, Bidadari Park and Alkaff Lake, in addition to a lot of popular colleges will probably be the important attraction for all these city fringe flats,” explained Gafoor.
“Specifically, Parc Woods @ Tengah may woo applicants that are wanting to reside in another generation of HDB property — Tengah will be Singapore’s first sustainable and smart city, with green attributes,” additional Gafoor.
Lee anticipates the Community Care Apartments to become popular”among seniors that are busy and want to age in place”.
Christine Sun, Senior Vice President of Research & Analytics in OrangeTee & Tie, stated such apartments will satisfy with the housing needs of their growing population of elderly, divorcees in addition to parents who would rather live apart from their kids.
But not everyone”likes to live among a community of older as some might prefer a fantastic mixture of young couples and families”, she explained.
Some could also locate Bukit Batok’s place as inconvenient, although the prohibition on apartments to be offered at the open market may turn off some buyers.
“Some older may still be very traditional and want to bequeath land for their descendants,” said Sun.
“A number of those optional services may also be rather pricey for the older with minimal if any income,” she added.
“Since the COVID-19 pandemic is growing, HDB is monitoring the situation and can make adjustments where required,” it stated.