The Housing Development Board (HDB) has launched two new Built-to-Order (BTO) projects — Boon Lay Fields in Jurong West and Compassvale Ancilla in Sengkang.
The two projects offer a total of 1,527 flats, comprising 244 studio apartments, as well as 233 three-bedroom, 666 four-bedroom and 404 five-bedroom units. HDB said 95 percent of the three- to five-room units will be set aside for first-time home buyers.
Located along Boon Lay Drive, the Boon Lay Fields project is a standard contract with a total of 491 flats. It comprises 93 three-room, 246 four-room and 152 five-room flats. The selling prices for the flats range from S$168,000 to S$391,000.
Meanwhile, the Compassvale Ancilla project is bounded by Sengkang East Road, Sengkang East Avenue and Sengkang Central. It is a premium contract with a total of 1,036 flats, comprising 224 studio apartments, along with 140 three-room, 420 four-room and 252 five-room units. Facilities to be provided in the development include a supermarket, a childcare centre, retail outlets, an eatery and a Residents Committee Centre. The selling prices of the homes range from S$77,000 for a studio apartment to S$444,000 for a five-room flat.
Mohamed Ismail, Chief Executive of PropNex, said Compassvale Ancilla is expected to be more popular, as it is the first in the estate to offer studio apartments.
“Although the BTO flats are only 12 percent to 19 percent cheaper than a resale flat within the same region, interest could still be high as they can avoid paying the cash-over-valuation (COV) component, which is currently S$20,000 in Sengkang. Therefore, you can expect an oversubscription rate of four times in Sengkang,” he said.
In contrast, Mr. Ismail said prices at the Boon Lay Fields project are not just lower than those of resale flats but also relatively lower than those of other BTO flats.