PRESS RELEASE HDB Launches 6,992 Flats in May 2018 BTO and SBF Exercise HDB launched 6,992 flats for sale today under the May 2018 Build-To-Order (BTO) and Sale of Balance Flats (SBF) exercise. This comprises 3,970 BTO units and 3,022 SBF units across various towns/estates. Wide Range of Flats for Different Budgets and Needs May 2018 BTO Exercise 2 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, multigeneration families, elderly and singles. Further details can be found in Annex A1. 3 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 1, $112,000, $196,000 and $330,000 respectively. 4 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 (see Table 1 for the BTO prices and the comparable resale prices). In addition, 2-room Flexi flats are priced taking into account the lease chosen, as shown in Annex A2. Table 1: May 2018 BTO Prices 1 Buyers are required to pay 5% of the published price using their CPF and/or cash savings when the total housing grants (i.e. AHG and SHG) they can enjoy exceed 95% of the published price of the flat. In this case, the total grants are $80,000 whereas the selling price is $76,000. Hence, a minimum payment of 5% of the published price, i.e. $4,000, is required. The excess AHG and SHG will be credited into the buyers CPF accounts.
Town Contract Non-Mature Towns Sengkang Fernvale Dew ~ Flat Type 2-room Flexi* Transacted Prices of Resale Flats in the Vicinity # (Excluding Grants **) (Including Grants ^) - From $99,000 From $19,000 3-room - From $187,000 From $112,000 4-room $370,000 - $460,000 From $279,000 From $219,000 Yishun Casa Spring @ Yishun 5-room $510,888 - $565,000 From $362,000 From $357,000 2-room Flexi* - From $76,000 From $4,000 + 4-room $340,000 - $409,888 From $256,000 From $196,000 5-room $408,000 - $470,000 From $335,000 From $330,000 3Gen - From $347,000 From $342,000 Mature Towns Tampines Tampines GreenVines 3-room - From $210,000 From $190,000 4-room $405,000 - $450,000 From $312,000 From $307,000 5-room $485,000 - $582,000 From $422,000 From $422,000 Toa Payoh Kim Keat Beacon 3-room $258,800 - $293,000 From $245,000 From $225,000 4-room $580,000 - $620,000 From $380,000 From $375,000 Note: 1) * 2-room Flexi flats come in two sizes 36/38 sqm (Type 1) and 45 sqm (Type 2). ^ The assumed housing grants are for applicants applying as a family nucleus or two singles under the Joint Singles Scheme for a 2-room Flexi flat. Eligible first-time flat buyers can apply for housing grants of up to $80,000, comprising AHG of $40,000 and SHG of $40,000. SHG is applicable only to 2-room Flexi, 3-room and 4-room flats in the non-mature towns. For illustration purposes, the assumed total grants adopted for the projects in the above table are as follows: i) 2-room Flexi flat: $80,000 in non-mature towns and $40,000 in mature towns ii) 3-room flat: $75,000 in non-mature towns and $20,000 in mature towns iii) 4-room flat: $60,000 in non-mature towns and $5,000 in mature towns iv) 5-room flat/ 3Gen flat: $5,000 in non-mature towns The starting prices and assumed grant amounts are illustrative. The actual grant amount received will depend on buyers income, choice of flat type/ estate and eligibility for housing grants. Read more on various CPF Housing Grants available. ~ Prices include the costs of floor finishes, internal doors and sanitary fittings. + Buyers are required to pay 5% of the published price using their CPF and/or cash savings when the total housing grants (i.e. AHG and SHG) they can enjoy exceeds 95% of the published price of the flat. Excess housing grants, if any, can be used to pay for Optional Component Scheme (OCS) items and premiums that singles and Singapore citizen/ Singapore permanent resident households have to pay, before crediting the balance into the Singaporean buyers CPF accounts. # Details on the comparable resale flats in the vicinity for each BTO project can be found on the HDB e-sales website. The differences in attributes between the comparable resale flats and the BTO flats should be taken into account when making a comparison. ** Singles who apply for a 2-room Flexi flat under the Single Singapore Citizen (SSC) Scheme will pay $15,000 more than married couples. Eligible singles can also apply for AHG and SHG. The additional amount payable and the grants will vary based on the choice of lease tenure. The actual grant amounts will vary according to income. Read more on various CPF Housing Grants available. 2) Selling prices (excluding and including grants) quoted above are rounded up to the nearest thousand dollars.
5 First-timer families will continue to enjoy priority in flat allocation 2. Married/courting couples who wish to live together with their parent(s) 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) 3. May 2018 SBF Exercise 6 In addition to the BTO flats, HDB 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 4. Eligible first-timer singles may also apply for a 2-room Flexi flat in non-mature towns. 7 SBF flats come in a wide range of flat types, locations and selling prices (see Table 2). About 34% 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. The pricing details and applicable ethnic quotas of the SBF flats offered are in Annex B. Table 2: Summary of May 2018 SBF Prices Flat Type (Excluding Grants) Non-Mature Towns 2-Room Flexi (99-year/ remaining lease)* (Including Grants)^ From $90,000 From $10,000 3-Room From $164,000 From $89,000 4-Room From $216,000 From $156,000 5-Room From $278,000 From $273,000 3Gen From $335,000 From $330,000 Executive From $370,000 From $370,000 Mature Towns/Estates 2 At least 85% (for 4-room and 5-room flats) and 70% (for 3-room flats) of the BTO public flat supply in the non-mature towns are set aside for first-timer families. For flats in the mature towns of Tampines and Toa Payoh, at least 95% (for 3-room and bigger flats) of the public flat supply will be set aside for first-timer families. 3 Up to 15% of the 2-room Flexi and 3-room flats in a BTO project (subject to a minimum of 20 units each) are set aside for parents applying under MGPS. The same number of 2-room Flexi and bigger flats are set aside in the same BTO project for their married children. 4 At least 95% of the supply of balance flats (for 3-room and bigger) will be set aside for first-timer families.
Note: Flat Type 2-Room Flexi (99-year/ remaining lease)* (Excluding Grants) (Including Grants)^ From $144,000 From $104,000 3-Room From $161,000 From $141,000 4-Room From $278,000 From $273,000 5-Room From $375,000 From $375,000 3Gen From $438,000 From $438,000 Executive From $475,000 From $475,000 1) ^ The assumed housing grants are for applicants applying as a family nucleus or two singles under the Joint Singles Scheme for a 2-room Flexi flat. Eligible first-timer flat buyers can apply for housing grants of up to $80,000, comprising AHG of $40,000 and SHG of $40,000. SHG is applicable only to 2-room Flexi, 3-room and 4-room flats in the non-mature towns. For illustration purposes, the assumed total grants adopted for the above table are as follows: i) 2-room Flexi flat: $80,000 in non-mature towns and $40,000 in mature towns ii) 3-room flat: $75,000 in non-mature towns and $20,000 in mature towns iii) 4-room flat: $60,000 in non-mature towns and $5,000 in mature towns iv) 5-room flat / 3Gen flat: $5,000 in non-mature towns The starting prices and assumed grant amounts are illustrative. The actual grant amount received will depend on buyers income, choice of flat type/ estate and eligibility for housing grants. Read more on various CPF Housing Grants available. * The starting prices of flats offered under 2-room Flexi scheme are based on 99-year/ remaining lease. Buyers can refer to the prices of individual flats on short lease in the HDB InfoWEB. 2) Selling prices (excluding and including grants) quoted above are rounded up to the nearest thousand dollars. 3) To check the lease commencement date of each block, please refer to esales.hdb.gov.sg. Deferment of Income Assessment and Revised Proximity Condition 8 Several measures announced at MND s Committee of Supply debate this year will take effect from this sales exercise onwards: (i) Deferment of Income Assessment: Young couples who have not met the minimum period of employment to qualify for housing grants and loans, but are ready to settle down early and buy their first flat, may have their income assessment deferred till just before key collection. The flexibility to defer the income assessment is intended to help young couples proceed with their flat purchase application earlier, if they are ready to make the commitment to settle down. The terms of eligibility are set out in in Annex C. (ii) Revised Proximity Condition for Buying a Flat Near Parents/Children: Flat buyers who wish to apply for a flat under the Married Child Priority Scheme (MCPS) and Senior Priority Scheme (SPS) will benefit from the revised proximity condition. Previously, the proximity condition was defined as living in
the same town, or within 2 km. Starting from this exercise, applicants may apply for a flat under the MCPS if their parents/married child are living within 4 km of the flat they are applying for. Seniors may also qualify for the SPS if they are buying a 2-room Flexi flat within 4 km of their current flat or owner-occupied private property, or within 4 km of where their parents/married child are residing. This enhancement will provide home buyers more choices of flats in neighbouring towns, and is part of our efforts to encourage families to live closer to each other for stronger mutual support. Application for May 2018 BTO and SBF Exercise 9 Application for new flats launched in the May 2018 BTO and SBF exercise can be submitted online on the HDB InfoWEB from today, 22 May 2018 (Tuesday) to 28 May 2018 (Monday). Applicants can apply for only one flat type/category in one town under either the BTO or SBF exercise. 10 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 in Annex C. 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 at www.hdb.gov.sg/hleapply. Advice for Flat Buyers 11 Applicants are encouraged to apply for a BTO flat in non-mature towns to enjoy a higher chance of success in securing a flat and more housing grants, including the SHG. Although SBF flats have a shorter waiting time to completion, the number of units offered in each town is usually small, and are likely to attract high application rates. 12 All the information on the BTO and SBF flats on offer is available on the HDB InfoWEB. The number of applications submitted for the various flat types/ towns under BTO and SBF will also be updated regularly on the HDB InfoWEB. Applicants are encouraged to check for updates before submitting their application.
13 For their own convenience, we would like to advise interested flat buyers to view the details of the flats online via the HDB InfoWEB. There is no need for them to make a trip down to HDB Hub. 14 Flat applications are not processed on a first-come, first-served basis. HDB will shortlist applicants using a computer ballot. Flat applicants have 7 days to consider and may submit their online application at any time before the closing date. They need not rush to put in their applications. More details on the application procedures can be found in Annex D. 15 For enquiries, the public can: - Log on to esales.hdb.gov.sg; or - E-mail hdbsales@mailbox.hdb.gov.sg; or - Visit the HDB Sales Office to speak with our Customer Relations Executives during office hours (Monday to Friday 8 am to 5 pm, Saturday 8 am to 1 pm). Next BTO Launch in Aug 2018 16 In Aug 2018, HDB will offer about 4,300 flats in Punggol and Yishun. More information on the BTO flats is available on the HDB InfoWEB. Issued By : Housing & Development Board Date : 22 May 2018