HDB launched 3,739 flats for sale on Tuesday (12 February) under the February 2019 Build-To-Order (BTO) and Re-Offer of Balance Flats (ROF) exercise, which includes 3,162 BTO units and 577 ROF units across various towns/estates.
In a press release on tuesday (12 February), the Housing Development Board (HDB) stated that this is the first tranche of 15,000 BTO flats to be launched in 2019.
The 3,162 BTO flats on offer are spread across five projects. Three projects are in the non-mature towns of Jurong West and Sengkang, while another two are in the mature town of Kallang Whampoa.
According to the authority, 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. In addition, 2-room Flexi flats are priced taking into account the lease chosen.
HDB said 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, flat buyers could pay as little as $15,000 for a 2-room Flexi flat, $110,000 for a 3-room flat, $197,000 for a 4-room flat, and $333,000 for a 5-room flat, it noted.
The authority stated that first-timer families will continue to enjoy priority in flat allocation. Married/courting couples who wish to live together with their parent(s) can apply for a 3Gen flat in Jurong West or Sengkang. 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)
February 2019 ROF Exercise
In addition to the BTO flats, HDB said that it will also offer 577 unselected flats from the May 2018 Sale of Balance Flats (SBF) exercise. They comprise 173 units of 2-room Flexi, 166 units of 3-room, 129 units of 4-room, 10 units of 5-room, 96 units of 3Gen and 3 units of executive flats across various towns/estates.
It noted that it 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.
According to the authority, ROF flats come in a wide range of flat types, locations and selling prices. About 13% are already completed and the rest are under construction. Eligible families with more urgent housing needs and/or who are less particular about location and attributes may wish to apply.
Under ROF, home buyers will be able to select their flats quicker, and from a bigger pool of balance flats for different flat types and in different locations, it added.
Application for new flats launched in the February 2019 BTO and ROF exercise can be submitted online on the HDB InfoWEB from Tuesday (12 February) to Monday (18 February).
HDB stressed that 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 ROF applicants may select their preferred flat from the whole range of available units, regardless of flat type or town/estate, if eligible.
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 are eligible for deferment of income assessment. 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.
In May 2019, HDB will offer about 3,400 flats in Kallang Whampoa, Tengah and Woodlands.