Posted: 22 September 2011 1028 hrs

SINGAPORE

The Housing and Development Board (HDB) on Thursday announced a bumper launch of 8,200 flats under the joint Build-To-Order (BTO) and Sale of Balance Flats (SBF) Exercises.

This is the largest supply of flats in a single launch.

HDB said a total of 5,415 new flats will be built in seven BTO projects in Sengkang, Punggol, Jurong West, Jurong East and Ang Mo Kio towns.

They are likely to cost between S$134,000 for a three-room flat to about S$375,000 for a five-room unit.

The remaining 2,847 units are balance flats from earlier BTO exercises and repurchased flats.

These units are scattered across 15 estates, including Kallang, Punggol and Ang Mo Kio.

HDB said first-time buyers will be given priority, with at least 95 per cent of the flats set aside for them.

Property agents said they do not expect the HDB resale market and private property market to be affected by the bumper launch.

Mr Mohamed Ismail Gafoor, CEO of PropNex said: “(It is) simply because these (BTO) flats will only be coming onboard in three years’ time. In the resale market, the demand is really by people who’re not able to wait.

“Most of these newly-married couples are first timers applying for BTO, most of them cannot afford to buy a resale flat due to the high COV (cash over valuation) currently.”

– CNA/fa/cc