HDB Says 4-Room Ang Mo Kio BTO Costs S$605K, S’poreans Don’t Think It’s Affordable

A 4-Room BTO Flat In Ang Mo Kio Apparently Costs Over S$600K

The Housing Development Board (HDB) launched its August Build-To-Order (BTO) projects and the Ang Mo Kio (AMK) projects have garnered plenty of attention, particularly Central Weave @ AMK.

Anticipation for its launch was high, and the number of bidders prove it.

According to the HDB website, as of 1 Sep, 2,132 bidders are vying for 398 four-room flats, 3,143 others are hoping to secure one of 373 five-room and third-generation flats.

But an infographic for a four-room flat at Central Weave @ AMK posted by HDB has drawn comments about what is considered “affordable” these days.

Infographic breaks down cost of 4-room Ang Mo Kio BTO

The infographic, which HDB posted on Tuesday (30 Aug), explains the cost of buying a typical four-room flat at Central Weave @ AMK.

According to the infographic, a typical four-room flat costs around S$605,000.

To caveat, this is the price for a flat in a mature estate like AMK. In a non-mature estate like Keat Hong Grange in Choa Chu Kang, a four-room flat would typically cost around S$320,000.

However, Singaporeans have noted the escalating costs of flats over the years, especially in mature estates.

Singaporeans call out rising costs of housing estates over the years

The S$605,000 figure for a flat in the AMK BTO project has raised eyebrows among many Singaporeans, who took to the comments, pointing out how much costs have risen.

There were nearly 400 comments and over 900 shares on that specific infographic as of the time of writing.

One of them spoke about how rising prices are causing stress to the young, likely influencing them to avoid having children. He also pointed out how salaries haven’t risen with the costs of flats.

Others observed that flats are getting smaller these days, even though they aren’t getting cheaper.

Price aside, even applying for a ballot is not the easiest of times, another comment noted.

Prices vary across different estates, so pick wisely

Since AMK is located centrally, the price difference between a flat there and one in non-mature estates like Woodlands is very stark.

Hence, when reviewing prices of homes, it’s best to step back to look at the bigger picture instead of fixating on one location only.

Though houses aren’t getting cheaper over the years, we should remember that various options exist, and we should pick wisely based on what we can afford.

Here’s wishing first-time homeowners the best of luck in finding their dream homes.

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Featured image adapted from Housing & Development Board.