HDB launches 6,992 flats under May BTO and SBF exercise

The Housing Development Board (HDB) has announced that 6,992 flats are launched for sale today under the May 2018 Build-To-Order (BTO) and Sale of Balance Flats (SBF) exercise, which comprises 3,970 BTO units and 3,022 SBF units across various towns/estates.

HDB noted that a wide selection of flats, ranging from 2-room Flexi to Three-Generation (3Gen) flats, is offered to meet the diverse housing needs of first-timers, second-timers, multi-generation families, elderly and singles.

HDB states that the 3,970 BTO flats on offer are spread across four projects.Two of the projects are in the non-mature towns of Sengkang and Yishun, while another two are in the mature towns of Toa Payoh and Tampines. 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, $112,000, $196,000 and $330,000 respectively.

It added that new HDB flats are priced with a generous subsidy, 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.

HDB notes that First-timer families will continue to enjoy priority in flat allocation. Married or courting couples who wish to live together with their parents can apply for a 3Gen flat in Casa Spring @ Yishun. 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 addition to the BTO flats, HDB noted that it will also offer 3,022 balance flats under the SBF exercise. They comprise 754 units of 2-room Flexi, 655 units of 3-room, 1,143 units of 4-room, 305 units of 5-room, 157 units of 3Gen and 8 units of Executive flats across various towns/estates. The majority of the flats offered under the SBF exercise are reserved for first-timer families. Eligible first-timer singles may also apply for a 2-room Flexi flat in non-mature towns.

SBF flats come in a wide range of flat types, locations and selling prices. About 34 percent are already completed and the rest are under construction. Similar to BTO flats, SBF flats are subsidised and priced considerably lower than the transacted prices of comparable resale flats in the vicinity.

Application for new flats launched in the May 2018 BTO and SBF exercise can be submitted online on the HDB InfoWEB from Tuesday (22 May) to Monday (28 May). Applicants can apply for only one flat type/category in one town under either the BTO or SBF exercise.

HDB noted 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, except for young couples who fulfil the conditions.

All applicants 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 here.

This entry was posted in Housing.

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