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HDB launches 6,800 flats in October BTO exercise\u003Cp\u003E\u003Cstrong\u003ESeventy-five per cent of the flats have a waiting time of four years or below.\u003C/strong\u003E\u003C/p\u003E\n\u003Cp\u003EThe Housing and Development Board (HDB) launched 6,800 flats for sale under the October Build-To-Order (BTO) exercise.\u003C/p\u003E\n\u003Cp\u003EThe eight BTO projects are located in Choa Chu Kang, Kallang/Whampoa, Queenstown, and Tengah. Six out of eight projects, or about 75% of the flats, have a waiting time of four years or below.\u003C/p\u003E\n\u003Cp\u003EHDB will offer the other two projects located in Verandah Kallang and Tanglin Halt Cascadia under the Prime Location Housing (PLH) model, which requires its owners 6% return upon resale.\u003C/p\u003E\n\u003Cp\u003EHDB will reserve 20% of the PLH flats for first-timer families and 2% for second-timer families under the Married Child Priority Scheme.\u003C/p\u003E\n\u003Cp\u003EFlat prices range from $106,000 to $530,000 in non-mature estates. For mature estates, prices range from $176,000 to $480,000. Prices vary on the number of rooms per unit.\u003C/p\u003E\n\u003Cp\u003EInterested applicants must have a valid HDB Flat Eligibility (HFE) letter. Applications can be made online via HDB Flat Portal from 4 October to 10 October.\u003C/p\u003E
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Number of resold million-dollar HDB flats drop 22% MoM in September\u003Cp\u003E\u003Cstrong\u003EThe top HDB resale flat in September was an Executive Room in Bishan St. 24.\u003C/strong\u003E\u003C/p\u003E\n\u003Cp\u003EThere were only 42 million-dollar HDB resale flats transacted in September, translating to a 22% drop from August when 54 flats were resold.\u003C/p\u003E\n\u003Cp\u003EWith the addition of the September sales, the number of HDB resale flats sold for the year (9M23) has reached 336, representing 1.7% of the total HDB resale volumes. \u003C/p\u003E\n\u003Cp\u003E“Compared to the same period in 2022, million-dollar resale flat sales were up by about 21% from 277 units resold in 9M 2022. This looks on track to smash the record of 369 million-dollar resale flats transacted in the whole of 2022,” Propnex said.\u003C/p\u003E\n\u003Cp\u003EThe top HDB resale flat transacted in September was a 172 sqm Executive Room at Bishan St 24, sold for $1.45m or $783 psf.\u003Cbr /\u003E\n \u003C/p\u003E
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October BTO exercise: Which project will see the biggest demand?\u003Cp\u003E\u003Cstrong\u003EExperts expect a higher number of applicants for the October BTO exercise.\u003C/strong\u003E\u003C/p\u003E\n\u003Cp\u003EReal estate experts expect the October BTO exercise to receive healthy demand from Singaporeans despite the new non-selection rules and estate reclassification imposed by the government.\u003C/p\u003E\n\u003Cp\u003E“Overall demand will likely be healthy as many good sites near MRT stations or at the city fringe areas have been released,” OrangeTee said.\u003C/p\u003E\n\u003Cp\u003EHuttons echoed this, saying: “The attractive locations of these BTOs may mean that there will be more applicants for each flat. There may also be more applicants applying for standard flats in mature estates which do not have restrictions like PLH flats. Overall the number of applicants may be higher for Oct BTO exercise.”\u003C/p\u003E\n\u003Cp\u003EHuttons and OrangeTee, however, did not discount the effects of the new non-selection rules and estate reclassification.\u003C/p\u003E\n\u003Cp\u003E“Due to the tightened rules for the non-selection of BTO flats, we expect a drop in applicants since those not ready to commit to a purchase or are uncertain about their buying decision will unlikely apply for a flat now. These may include young couples unprepared for marriage or considering other housing options,” Orangetee said.\u003C/p\u003E\n\u003Cp\u003E“Young couples who do not want to jeopardise their future chances of getting a well-located flat will likely not apply flippantly now,” OrangeTee added.\u003C/p\u003E\n\u003Cp\u003ESince there will be fewer applicants to apply after the non-selection penalty rule kicks in, OrangeTee expects “serious buyers and first-time families to have a higher chance of getting a flat.”\u003C/p\u003E\n\u003Cp\u003E“First-time families with children are given an extra ballot, and more flats will be set aside. However, this group of buyers may be small,” OrangeTee said.\u003C/p\u003E\n\u003Cp\u003EThe reclass
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First Sin Ming flats in 35 years among 8 BTO projects to go on sale in DecemberThe last of three projects in Ulu Pandan\u0027s eastern half will also be part of the final BTO sales exercise of the year.
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October 2023 HDB BTO launch review: Ultimate guide to choosing the best unitFor those who've been used to the timely launches, it might seem a little strange (or surprising) to see an October BTO launch. This time, HDB has launched 6,800 BTO flats across four key areas: Choa Chu Kang, Kallang/Whampoa, Queenstown, and Tengah. The best part? About 75 per cent of these homes are expected to be ready in four years...
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