The Housing & Development Board (HDB) recently unveiled a significant release of 6,938 BTO units available for public application. This launch includes two projects situated in prime locations, where the subsidy recovery rate has been increased to 9%, marking a record high. The sales exercise covers various regions, including Jurong East, Kallang-Whampoa, Queenstown, Tampines, Woodlands, and Yishun, offering a range of unit types from 2-room Flexi to 3-Generation flats to meet diverse family needs.
The projects in Kallang-Whampoa and Queenstown have been incorporated into the Prime Location Public Housing (PLH) model. To ensure affordability, the government is providing additional subsidies for these three projects, making the selling prices significantly lower than resale flats in the same area.
- 2-room Flexi units: Starting at $127,000
- 3-room units: Starting at $342,000
- 4-room units: Starting at $537,000
Due to the higher subsidies for these projects, the subsidy recovery rate will increase from the previous 6% to 9%. This means that homeowners will need to return 9% of the resale price or valuation, whichever is higher, when they sell these units in the future.
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About half of the units in this sales exercise have a waiting time of four years or less. New units in Woodlands and Tampines have an even shorter waiting period of around three years. Additionally, from this month, eligible young couples signing the Agreement for Lease only need to pay 2.5% of the purchase price as the downpayment, reduced from the previous requirement of 5% or 10%.
HDB revealed that the final BTO sales exercise for this year will occur in October, with approximately 8,500 units available for application. Locations include Ang Mo Kio, Bedok, Bukit Batok, Geylang, Jurong West, Kallang-Whampoa, Pasir Ris, Sengkang, and Woodlands.
In Geylang, 260 Community Care Apartments designed specifically for seniors will be available. Moreover, the October sales exercise will feature the first-ever "Open Concept" HDB flats, which come without internal walls and beams, offering greater flexibility for homeowners to customize their interior layout. Kallang-Whampoa will have 310 3-room and 4-room "Open Concept" units available.
To further assist young homebuyers, under the new policy, eligible young couples only need to pay 2.5% of the purchase price as the downpayment when signing the Agreement for Lease. This initiative significantly lowers the financial barrier for first-time buyers, making it more affordable for young people to purchase HDB flats.
In the upcoming October BTO sales exercise, Geylang will feature 260 Community Care Apartments designed for the elderly. These units will provide more convenient living facilities and considerate community services to meet the special needs of seniors.
A highlight of this sales exercise is the introduction of the "Open Concept" HDB flats. This new type of flat features interiors without walls and beams, allowing residents to modify the layout according to their needs and preferences. This design offers great flexibility, enabling residents to better utilize space and adapt to changes in family composition.
