ST : HDB launches 1,534 new BTO flats

Feb 12, 2010

HDB launches 1,534 new BTO flats

On offer: 750 units in Punggol, 784 in Woodlands at 'below market prices'

THE Housing Board has released 1,534 flats at two new projects, in the latest move to allay widespread fear of a public housing shortage.

Yesterday, it launched 750 build-to-order (BTO) units in Punggol and 784 in Woodlands. A further 1,000 BTO flats in Sengkang and Sembawang are slated for launch next month.

The launches are in line with the HDB's plan to offer an islandwide spread of 7,000 BTO flats - in areas such as Punggol, Yishun and Jurong West - during the first half of the year.

Last month, the HDB freed 1,291 flats for sale in Choa Chu Kang and Hougang.

The projects released yesterday - Punggol Crest at Punggol Place and Treegrove@Woodlands at Woodlands

Avenue 7 - have been described by the HDB as being priced below 'equivalent market prices'.

Punggol Crest, which is close to the future Punggol Town Centre, is served by the Punggol MRT station and the surrounding LRT stations and bus interchange.

Sited next to the Tampines Expressway, it offers 240 two-room, 240 three-room and 270 four-room flats.

Prices range from $90,000 for a two-room flat with a 46 sq m floor area, to $301,000 for a four-room unit with a 92 sq m floor area.

Treegrove@Woodlands, which is next to 888 Plaza, offers 192 studio apartments, 220 three-room flats and 372 four-room units.

Residents will be served by the Woodlands and Admiralty MRT stations, a bus interchange and the Seletar and Bukit Timah expressways.

Prices begin at $64,000 for a 36 sq m studio apartment, and rise to $288,000 for a 95 sq m four-room flat.

The HDB is setting aside 95 per cent of the two-, three- and four-room flats for first-time home buyers.

Mr Mohamed Ismail, chief executive of real estate agency PropNex, expects the flats to be oversubscribed by at least six times because of continued demand for public housing.

Applications for the new units are now open and will close on Feb 24. Those eligible can apply for a housing grant of up to $40,000.

DICKSON LI