Housing Development Board (HDB) launched 4,381 flats for sale on Tuesday (6 February) under the February 2018 Build-To-Order (BTO) and Re-Offer of Balance Flats (ROF) exercise, which includes 3,664 BTO units and 717 ROF units across various towns/estates.
The board notes that this is the first tranche of 17,000 BTO flats to be launched in 2018. The 3,664 BTO flats on offer are spread across five projects. Two of the projects are in the non-mature towns of Choa Chu Kang and Woodlands, while another three are in the mature towns of Geylang and Tampines.
It noted that eligible first-timer families can enjoy up to $80,000 of housing grants, comprising the Additional CPF Housing Grant (AHG) (up to $40,000) and the Special CPF Housing Grant (SHG) (up to $40,000). With these grants, buyers of 2-room Flexi, 3-room, 4-room and 5-room flats could pay as little as $4,000, $65,000, $165,000 and $274,000 respectively.
According to the board, new HDB flats are priced with a generous subsidy to their assessed market values, taking into account factors such as location, flat attributes and prevailing market conditions. HDB’s prices are considerably lower than transacted prices of comparable resale flats in the vicinity. In addition, 2-room Flexi flats are priced taking into account the lease chosen.
HDB stated that first-timer families will continue to enjoy priority in flat allocation and applicants who wish to live close to their parents or married children in the same BTO project can submit a joint application under the Multi-Generation Priority Scheme (MGPS).
In this sales exercise, HDB said that it will also offer 717 unselected flats from the May 2017 Sale of Balance Flats (SBF) and Aug 2017 Re-offer of Balance Flats (ROF) exercises.
They comprise 50 units of 2-room Flexi, 217 units of 3-room, 109 units of 4-room, 331 units of 5-room, 3 units of 3Gen and 7 units of executive flats across various towns/estates. HDB will set aside at least 95% of the flat supply for first-timer families and up to 5% for second-timer families.
“Elderly may apply if they meet the prevailing eligibility conditions to buy a 2-room Flexi flat. Families will enjoy priority for flat selection,” it added.
ROF flats come in a wide range of flat types, locations and selling prices. About 80 percent are already completed and the rest are under construction.
HBD states that application for new flats launched in the February 2018 BTO and ROF exercise can be submitted online on the HDB InfoWEB from 6 February 2018 (Tuesday) to 12 February 2018 (Monday).
“Applicants can apply for a flat under either the BTO or ROF exercise, but not both. If they apply for a BTO flat, they must select only one flat type in one town. If they apply for a ROF flat, they do not have to indicate their preferred flat type and town/estate in their application. Invited applicants may select their preferred flat from the whole range of available units, regardless of flat type or town/estate, if eligible,” it noted.
It added that applicants who wish to take up an HDB housing loan for their flat purchase need to produce a valid HDB Loan Eligibility (HLE) Letter when they book a flat. They are encouraged to apply for an HLE Letter early so that they can plan their flat purchase in advance. The HLE Letter will indicate the maximum loan that can be offered based on individuals’ financial situation. Applicants can check their loan eligibility and apply for an HLE letter at www.hdb.gov.sg/hleapply.