Singapore Boosts Opportunities For First Timer Households
HDB is launching three Build-To-Order (BTO) projects in Sengkang and Bukit Panjang.
95% of the flat supply will be set aside for first-timer households.
A total of 1,593 standard flats will be offered, comprising 205 units of 2-room, 219 units of 3-room, 800 units of 4-room and 369 units of 5-room flats.
HDB is launching three BTO projects today – Fernvale Flora and Fernvale Gardens (PDF 718KB) in Sengkang, and Segar Vale (PDF 652KB) in Bukit Panjang. A total of 1,593 standard flats will be offered, comprising 205 units of 2-room, 219 units of 3-room, 800 units of 4-room and 369 units of 5-room flats. 95% of the flat supply will be set aside for First-Timer households.
The details of the BTO flats offered in Fernvale Flora, Fernvale Gardens and Segar Vale are in Annex A (PDF 28KB)
FERNVALE FLORA (JPG 791KB) AND FERNVALE GARDENS (JPG 849KB)
Bounded by Fernvale Road and Sengkang West Way, Fernvale Flora is a standard contract with 521 flats, comprising 93 units of 2-room, 107 units of 3-room and 321 units of 4-room flats. Nearby, along Fernvale Link, is Fernvale Gardens – also a standard contract with 382 flats, comprising 210 units of 4-room and 172 units of 5-room flats.
Both projects are in close proximity to Fernvale LRT station. Residents will be served by the wide range of facilities in Sengkang Town such as the Sengkang MRT/LRT station, bus interchange, Fernvale Point, Compass Point, Rivervale Mall, and Rivervale Plaza (an HDB neighbourhood centre).
Other facilities include the Anchorvale Community Club, Sengkang Sports and Recreation Centre and Sengkang Riverside Park. There are also primary and secondary schools in the area. The Tampines Expressway is a short drive away.
SEGAR VALE (JPG 1378KB)
Bounded by Bukit Panjang Ring Road and Segar Road, Segar Vale is a standard contract with 690 standard flats, comprising 112 units of 2-room, 112 units of 3-room, 269 units of 4-room and 197 units of 5-room flats. Facilities to be provided in this development are a supermarket, an eating house, shops and a child care centre.
Segar Vale has the Segar LRT station at its door step. Residents of this precinct will be served by the LRT system which links to Choa Chu Kang MRT station.
Public transport will be further enhanced in future with the Downtown Line. Two HDB neighbourhood centres, namely Greenridge Shopping Centre and Fajar Shopping Centre, as well as Bukit Panjang Plaza are easily accessible.
The new sports complex and community club next to Pang Sua Pond offer a wide range of recreational facilities. There are also primary and secondary schools in the area.
PRICING OF NEW FLATS AT FERNVALE FLORA, FERNVALE GARDEDNS AND SEGAR VALE
New HDB flats are priced with a generous subsidy below their market value. The market value, as determined by professional valuers, takes into account the prices of comparable resale flats in the area, adjusted for factors such as location, flat attributes, design, availability of flats for occupation and prevailing market conditions.
In addition, eligible first-timers buying 2-room and bigger new flats and earning not more than $5,000 per month 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.
The selling prices for the flats range from:
- Fernvale Flora and Fernvale Gardens $88,000 to $120,000 for a 2-room;
- $148,000 to $193,000 for a 3-room flat;
- $240,000 to $311,000 for a 4-room flat; and
- $310,000 to $378,000 for a 5-room flat
Segar Vale $83,000 to $108,000 for a 2-room;
- $143,000 to $173,000 for a 3-room flat;
- $226,000 to $284,000 for a 4-room flat; and
- $298,000 to $354,000 for a 5-room flat 9The pricing details and resale comparables for Fernvale Flora, Fernvale Gardens and Segar Vale are in Annexes A (PDF 28KB) and B (PDF 28KB).
First-time flat buyers are estimated to use 16% to 24% of their monthly household income to meet their monthly loan payments for flats in Fernvale Flora, Fernvale Gardens and Segar Vale. For example, a 4-room unit priced at $255,000 in Segar Vale, requires a monthly mortgage instalment of about $919. A family with a household income of $4,100 will be able to service this mortgage instalment solely using their CPF contributions.
UPCOMING SALES LAUNCHES FOR FIRST HALF OF 2011
HDB has ramped up its new flat supply significantly to meet the demand from first-timer households. In 2011, HDB has plans to offer up to 22,000 new flats under BTO, if demand is sustained. In the first six months of 2011, flat buyers can look forward to about 11,000 new BTO flats.
These projects will have a good geographical spread in towns/estates such as Bukit Panjang, Jurong West, Punggol, Sengkang and Sembawang.
The next BTO launch in March 2011 will offer about 1,500 flats in Jurong West and Sengkang. More details will be provided at the launch.
The BTO supply will be supplemented by the housing units under the Design, Build & Sell Scheme (DBSS) and the Executive Condominium (EC) Housing Scheme.
For 2011, based on the land sales scheduled, there will be about 4,000 DBSS flats and 4,000 EC units.
In the first half of 2011, HDB will release for tender four sale sites under DBSS with a potential yield of about 2,700 flats.
The site at Clementi Avenue 4 under DBSS (estimated 770 units) has been launched for tender on 26 Jan 2011 (Tuesday) and with the tender closing on 8 Mar 2011 (Tuesday).
Under the Government Land Sales (GLS) Programme, HDB will also release four sale sites for EC developments with a potential yield of about 2,300 EC units in the first half of 2011.
The site at Choa Chu Kang Drive (estimated 490 EC units) has been launched for tender on 21 Jan 2011 (Friday) and with the tender closing on 22 Mar 2011 (Tuesday).
APPLICATION PROCEDURE
Applications for the new flats can be submitted online from 28 Feb 2011 (Monday) to 14 March (Monday). More details of the application procedures and BTO Exhibition can be found in Annex C. (PDF 32KB)
ENQUIRIES
For enquiries, the public can: – Log on to www.hdb.gov.sg/esales; or
E-mail hdbsales@hdb.gov.sg; 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).
Topics: 2011, affordable housing, Asia, BTO, build to order, Bukit Panjang, DBSS, economic development, Economy, environment, Executive Condomimium scheme, Executive Condominium Housing Scheme, Fernvale Flora, Fernvale Gardens, first time buyers, flats, Governance, government, HDB, housing, Housing Development Board, moniter, monitor, news, Pacific, residential housing, Segar Vale, Sengkang, Singapore, Studio Apartments
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