SINGAPORE: The Housing and Development Board (HDB) has launched 5,101 flats for sale under the August 2018 Build-to-Order (BTO) and Re-Offer of Balance Flats (ROF) exercise, it said in a press release on Tuesday (Aug 28).
The flats include 4,375 BTO units in Punggol and Yishun and another 726 ROF units across various towns and estates, HDB said.
BTO EXERCISE
The BTO flats on offer are spread across four projects in the non-mature towns of Punggol and Yishun.
Eligible first-timer families can enjoy up to S$80,000 of housing grants, comprising the Additional CPF Housing Grant (AHG) (up to S$40,000) and the Special CPF Housing Grant (SHG) (up to S$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, $103,000, $188,000 and $329,000 respectively,” HDB said.
It added that 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.
BTO Prices for August 2018. (Table: HDB)
ROF EXERCISE
In addition to the BTO flats, HDB will also offer 726 unselected flats from the November 2017 Sale of Balance Flats (SBF) and February 2018 ROF exercises.
They comprise 67 units of 2-room Flexi, 171 units of 3-room, 294 units of 4-room, 152 units of 5-room, 33 units of 3Gen and 9 units of executive flats across various towns/ estates, said HDB.
“HDB will set aside at least 95 per cent of the flat supply for first-timer families and up to 5 per cent for second-timer families.”
It added that the elderly may apply if they meet the prevailing eligibility conditions to buy a 2-room Flexi flat and that families will enjoy priority for flat selection.
Summary of August 2018 ROF Prices. (Table: HDB)
FLEXIBILITY TO RETAIN S$20,000 IN CPF OA
HDB also announced that flat buyers taking an HDB housing loan will now have the option of retaining up to S$20,000 each in their CPF Ordinary Account (OA).
The remaining CPF OA balance will be used to pay for their flat purchase, said HDB.
“This option will be available to flat buyers who have yet to collect the keys to their new flats, as well as resale applications received from today.”
Previously, buyers would have to fully utilise the balances in their CPF OA to pay for their flat before taking up a loan with HDB.
This move will provide flat buyers with “greater flexibility in using their CPF funds”, said HDB.
It added that the funds can be used for buyers’ monthly mortgage instalments in times of need and will improve retirement adequacy if left unutilised.
Those who wish to use all their CPF OA balances for their flat purchase may continue to do so.
Application for new flats launched in the August 2018 BTO and RFO exercise can be submitted online on the HDB InfoWEB from Aug 28 until Sep 3, HDB said.
It added that the next BTO launch will be in November, where HDB will offer about 3,800 flats in Sembawang, Sengkang, Tampines, Tengah and Yishun.
On Sunday, HDB announced that more than 2,000 flats located at a waterfront housing district in Punggol will be launched this month.
The flats are within the first two housing projects for Punggol Point District and are expected to be completed in 2023.
It was announced last month that about 4,300 new flats in Punggol and Yishun will be offered for sale in August.
HDB has said that it will launch 16,000 new flats for sale this year, down from its previous estimate of 17,000 flats.
