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CNA
6 days ago
- Business
- CNA
HDB launches 10,200 new flats for sale, with 4 Prime projects
SINGAPORE: The Housing and Development Board (HDB) launched 10,209 flats for sale in July's Build-to-Order (BTO) sales exercise, it said on Wednesday (Jul 23). This includes 5,547 BTO flats and 4,662 Sale of Balance (SBF) flats, it said in a press release. Seven out of 10 BTO flats up for sale have waiting times of four years or lower, including 1,396 units with less than three years' waiting time at Clementi Emerald and Bangkit Breeze. Sembawang Beacon, the first BTO project in the new Sembawang North neighbourhood, will comprise 775 units and has a wait time of three years. HDB noted that flat buyers looking to move into their homes sooner can consider applying in the SBF exercise, where 1,733 - or more than a third of SBF flats - have been completed. BTO FLATS, SUBSIDY CLAWBACK There are four standard and four prime BTO projects offered in the latest sales exercise, comprising flats ranging from two-room flexi to 3Gen flats. The standard projects on offer are in Bukit Panjang, Sembawang, Tampines and Woodlands, while the prime projects include two in Bukit Merah and one each in Clementi and Toa Payoh. "To ensure affordability, all new flats are priced with significant market discounts," HDB said. On top of the market discounts, Prime flats - which command higher market values due to their more favourable locational attributes - get additional subsidies to ensure affordability and accessibility. The selling prices for these new flats are substantially lower than the transacted prices of comparable resale flats, said HDB. Correspondingly, one of the additional restrictions that come with Prime flats is the subsidy clawback upon resale, which is derived as a percentage of the flat's resale or valuation price, whichever is higher. Alexandra Peaks, Alexandra Vista and Toa Payoh Ascent will have subsidy clawback rates of 11 per cent, while Clementi Emerald will have a 12 per cent subsidy recovery rate. "They are commensurate with the extent of the additional subsidies provided for the respective projects," HDB said. Eligible first-timer families stand to benefit from the enhanced CPF housing grant of up to S$120,000 (US$94,000). With the grant, homebuyers can purchase a 3-room standard flat starting from S$162,000 or a 4-room standard flat starting from S$248,000, said the Housing Board. CHANGES FROM JULY HDB also outlined some changes that will take effect from the current sales exercise, including improvements to the Family Care Scheme, which will provide priority access to parents and their children, when applying for a new flat to live with or near each other. First announced in March, the allocation quota for three-room and larger BTO flats for second-timer families has also been raised by 5 percentage points. The deferred income assessment rules have been expanded, such that only one party in a couple needs to be a recent or current full-time student or National Serviceman. Previously, both parties needed to meet the requirement. The Fresh Start Housing Grant, provided to support second-timer public rental families to buy a new standard two-room Flexi or standard three-room flat on a shorter lease, was also enhanced to S$75,000 from S$50,000. SBF FLATS The 4,662 SBF flats offered in the current exercise are more than the 3,000 units HDB previously committed to, it noted. Together with the 5,590 such flats offered in February, the total SBF supply this year has exceeded 10,200 flats. This is the largest annual supply of SBF flats since 2016, HDB said. Like BTO flats, SBF flats are subsidised and priced lower than comparable resale flats. Eligible first-timer singles can apply for any of the two-room flexi SBF flats across the island in this sales exercise, HDB said.
CNA
20-07-2025
- Business
- CNA
Some two-room BTO flats to be set aside for first-time singles who want to live near parents
SINGAPORE: The Housing and Development Board (HDB) on Sunday (Jul 20) announced the quota for Build-to-Order (BTO) two-room flats that will be set aside for first-time singles who are applying for a flat near their parents. The new Family Care Scheme (FCS), which was first announced by Prime Minister Lawrence Wong in the National Day Rally last year, comprises two components: FCS (Proximity) and FCS (Joint Balloting). PROXIMITY FCS (Proximity) allows parents and their children, regardless of marital status, priority access if they are applying for a new flat to live with or near each other. This will be rolled out in the July BTO exercise. Currently, up to 65 per cent of two-room flexi BTO flats and up to 5 per cent of Sale of Balance flats (SBF) are set aside for first-timer singles, after allocating flats to seniors. Within these quotas, 30 per cent of BTO flats and 2 per cent of SBF flats will be set aside for first-time singles applying under FCS (Proximity). This applies to Standard and Plus flats. For Prime flats, the percentages drop to 20 per cent and 1 per cent, respectively. The remaining quota will be for other first-time singles. Married couples and seniors currently have priority access under the Married Child Priority Scheme and Senior Priority Scheme when applying for new flats to live with or near their parents or married children. FCS (Proximity) will replace both of these schemes, with no change to the priority access for married couples and seniors. JOINT BALLOTING FCS (Joint Balloting) allows parents and their children, regardless of marital status, to jointly apply for two units in the same BTO project, where there are two-room flexi or three-room flats in the same project. This will start in the October BTO exercise, HDB said on Sunday. It will replace the Multi-Generation Priority Scheme for married children and parents to live near each other in the same BTO project. CHANGES FROM JULY Other changes that will start from the July BTO exercise have been announced previously. This includes HDB increasing the allocation quota of three-room and larger BTO flats for second-timer families by 5 percentage points. The revised proportion of BTO flats set aside for second-timer families: Up to 20 per cent of three-room Standard flats Up to 10 per cent of three-room plus and prime flats, and four-room and larger standard, plus and prime flats At least 80 per cent to 90 per cent of three-room and larger flats will continue to be set aside for first-time families. Changes to the Deferred Income Assessment (DIA) scheme and the Fresh Start Housing Grant for eligible second-time families will also take effect from the July BTO exercise. The DIA scheme allows eligible couples to apply for a new flat and delay their income assessment for housing grants or loans until just before they collect their keys. This will be expanded such that only one party in a couple needs to be a full-time student or national serviceman to be eligible. Previously, both parties needed to meet this requirement. The Fresh Start Housing Grant will be increased from S$50,000 to S$75,000 to support more second-timer public rental households with children to own homes. These families can use the increased grant to buy a new two-room flexi or three-room Standard BTO, or SBF flat, on a shorter lease.
