In a new development that will bring smiles to the faces of Singaporeans, the Housing and Development Board (HDB) has launched 6,992 flats for sale under the May 2018 Build-to-Order (BTO) and Sale of Balance Flats (SBF) exercise.
Making the announcement through a press release, HDB said, “Of the total, 3,970 are BTO units and 3,022 are SBF units across various towns and estates.”
BTO Exercise
Under the BTO exercise, 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
“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,” said HDB.
“Eligible first-timer families can enjoy up to SGD80,000 of housing grants, comprising the Additional CPF Housing Grant (AHG) (up to SGD40,000) and the Special CPF Housing Grant (SHG) (up to SGD40,000). With these grants, buyers of 2-room Flexi, 3-room, 4-room and 5-room flats could pay as little as SGD4,000, SGD112,000, SGD196,000 and SGD330,000 respectively,” said HDB.
Moreover, new HDB flats are priced with a generous subsidy, taking into account factors such as location, flat attributes and prevailing market conditions.
SBF Exercise
Under the SBF exercise, HDB will offer 3,022 balance flats. 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,” said HDB.
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.
Applications for BTO and SBF exercise
Application for new flats launched in the May 2018 BTO and SBF exercise can be submitted online on the HDB InfoWEB from today till May 28. Applicants can apply for only one flat type/category in one town under either the BTO or SBF exercise.
HDB has also given preference to the young couples who want to purchase the house. 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,” said HDB.
HDB has also revised some conditions 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,” said HDB.