4,126 BTO flats launched in estates like Punggol & Bedok, most have less than 3.5 years’ wait

HDB launches 5,714 flats BTO & SBF flats in February 2024 exercises

The Housing and Development Board (HDB) has launched more than 5,700 flats under the February 2024 Build-To-Order (BTO) and Sale of Balance Flats (SBF) exercises.

This comes just a few days after it announced its new BTO project in Punggol.

A total of 4,126 BTO flats will be available across six different estates such as Bedok, Queenstown, and Hougang.

More than 80% of that flats will have a waiting time of three-and-a-half years.

HDB launches more than 4,000 BTO flats in February 2024 exercise

On Wednesday (21 Feb), HDB shared that it has launched 5,714 BTO and SBF flats in the latest exercises.

According to the press release, there will be 4,126 BTO flats across seven new projects in six estates, which are:

  • Bedok
  • Punggol
  • Hougang
  • Woodlands
  • Queenstown
  • Choa Chu Kang

Out of the seven projects, five of them — or over 80% of the BTO flats — will have a waiting time of less than three-and-a-half years.

HDB encouraged those who are looking to move into their new homes sooner to apply for flats in Bedok, Hougang, Punggol or Woodlands.

As for the SBF flats, there will be 1,588 of them on offer, of which around 12% have already been completed.

2-room to 5-room BTO flats available

This marks the first of three BTO launches this year.

“Having three BTO launches instead of four means that home buyers can look forward to a bigger housing supply, and a wider range of flats and locations, at each of the BTO sales launches,” said HDB.

As a result, applicants may have a higher chance of success in getting a flat that suits their needs and budget.

In addition, HDB will extend the seven-day application window to eight days with effect from the February 2024 BTO exercise.

Flat applications can be submitted via the HDB Flat Portal from today (21 Feb) till 28 Feb.

Applicants will get to choose from a wide selection of two-room, three-room, four-room, and five-room flats.

HDB noted that all new BTO flats “are priced with significant market discounts to ensure affordability”.

As a result, selling prices are “considerably lower than the transacted prices of comparable resale flats”.

Making things even more affordable is the Enhanced CPF Housing Grant (EHG), which gives up to S$80,000 to eligible first-timer families.

The EHG allows them to purchase a three-room flat at S$127,000 or a four-room flat at S$240,000 in Choa Chu Kang, a non-mature estate.

They may also service their monthly mortgage payments with their CPF monthly contributions instead of cash.

As for the mature estate of Bedok, prices after grants start from S$406,000 for a four-room flat. More details can be found here.

About 6,800 flats in June 2024 BTO exercise

Come June this year, there will be another 6,800 flats available in the following estates:

  • Jurong East
  • Kallang/Whampoa
  • Queenstown
  • Tampines
  • Woodlands
  • Yishun

Anyone who is keen on applying for a flat must have a valid HDB Flat Eligibility (HFE) letter.

If you’re eyeing the June 2024 sales launch, you should apply for a HFE letter and submit all required documents by 15 May 2024, HDB said.

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Featured image adapted from Housing & Development Board and Housing & Development Board.

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