Four-room HDB flats in Rochor in high demand, a day after first BTO launch under new prime area model
SINGAPORE: There have been three times the number of applicants than 4-room units available in the first Build-to-Order (BTO) project under the new Prime Location Public Housing (PLH) model.
Applications for the four-room flats came in quickly on Thursday (Nov 18) - a day after the launch - with 2,105 applications for just 680 four-room flats in Rochor.
Response for three-room flats in the area was more muted, with 215 applications for 280 units, as of 5pm on Thursday.
On Wednesday, 4,501 BTO flats were launched for sale, including the 960 units in Rochor, the first project under the PLH model.
The PLH flats come with a 6 per cent subsidy clawback upon resale of the homes, the Housing Board (HDB) said on Wednesday.
Applications for BTO flats in mature towns/estates
| Mature towns/estates | Flat type | Units available | Applicants |
|---|---|---|---|
| Central (River Peaks I, II) | 3-room | 280 | 215 |
| 4-room | 680 | 2,105 | |
| Kallang Whampoa | 4-room | 276 | 399 |
(Information correct as of 5pm on Nov 18)
The units launched in the November BTO exercise are spread across nine housing projects in six estates – the central area, Choa Chu Kang, Hougang, Jurong West, Kallang Whampoa and Tengah.
The Rochor projects – River Peaks I and II – have a waiting time of about six years and are expected to be completed in the second quarter of 2028.
The blocks are located along Kelantan Road and Weld Road, next to Jalan Besar MRT station and Sim Lim Tower.
The two developments comprise a total of six 47-storey blocks, and one of these blocks will house “some rental flats”, said HDB.
The selling price for a four-room flat in the Rochor projects is expected to start from S$582,000, before subsidies, HDB said on Wednesday.
"As PLH flats are priced with additional subsidies, on top of the substantial subsidies already provided for all BTO flats today, PLH flat owners will have to return to HDB a percentage of the resale price of the flat upon the sale of their homes," said the agency.
"The additional subsidies will keep PLH flats affordable for a wide range of Singaporeans, while the subsidy recovery will ensure parity with other BTO flat owners who are not accorded these additional subsidies."
Lee Sze Teck, senior director of research at Huttons Asia, noted that the BTO flats in Rochor are "priced very similar" to those in Kallang Whampoa.
He added that buyers may be drawn to flats in prime locations because of the "potential huge gains" to be made, with the clawback subsidy of 6 per cent appearing "low relative to potential gains".
"For young couples below 30 years old, PLH flats appears to be a strong value proposition because of the potential gains, clawback subsidy notwithstanding," he said.
DEMAND FOR BTO FLATS IN OTHER AREAS
The only other mature estate to see new flats launched under November’s BTO exercise is Kallang Whampoa.
The project, named Kent Heights, will see 276 four-room units available. As of 5pm on Thursday, there were 399 applications.
There has also been strong demand for bigger flats in the non-mature towns of Hougang, Jurong West and Tengah.
Three projects - Hougang Olive, Parc Clover @ Tengah and Parc Glen @ Tengah - have a shorter waiting time of about 29 months to 33 months.
Flats in Hougang saw strong demand, with 472 applications for 312 five-room flats, and 444 applications for 378 four-room flats in about a day.
Applications for BTO flats in non-mature towns/estates
| Non-mature towns/estates | Flat type | Units available | Applicants |
|---|---|---|---|
| Hougang (Tanjong Tree Residences/Hougang Olive) | 4-room | 378 | 444 |
| 5-room | 312 | 472 | |
| Jurong West (Nanyang Opal) | 3-room | 91 | 27 |
| 4-room | 130 | 94 | |
| Tengah (Parc Glen/Parc Clover) | 3-room | 198 | 131 |
| 4-room | 872 | 536 | |
| 5-room | 653 | 593 |
(Information correct as of 5pm on Nov 18)
