HDB launches a record 8,573 Build-To-Order flats in October 2024, offering enhanced grants of up to S$120,000 and new flat types with stricter ownership rules.
KEY POINTS
IN SIMPLE TERMS
HDB is offering the most affordable public flats ever in one launch—over 8,500 new homes across 15 projects. Buyers get bigger grants to help pay for flats, and some homes will be ready in under three years. New flat types called Plus and Prime have rules that force buyers to live in them for at least 10 years before selling.
WHY IT MATTERS
WHERE DO YOU STAND?
Do you think the 10-year occupancy requirement for Plus and Prime flats is fair, or does it limit your housing choices too much?
👍 👎 Vote ↓The Housing and Development Board (HDB) sets a new record with its largest Build-To-Order (BTO) launch, offering more affordable homes to Singaporeans.
On 16 October 2024, HDB launched its biggest ever BTO exercise.
The launch offers 8,573 flats in 15 projects.
This makes up over 40% of new HDB flats for 2024.
According to HDB, “To ensure affordability, all new flats are priced with significant market discounts.”
The application period runs from 16 October to 23 October 2024.
Seven out of ten flats will be ready in four years or less.
Some flats, called Shorter Waiting Time (SWT) flats, will be ready in less than three years.
This is good news for couples who want to move in sooner.
HDB has increased grants to help more people buy homes.
First-time buyers with lower to middle incomes can get up to S$120,000 in grants.
This Enhanced CPF Housing Grant (EHG) makes flats more affordable.
As HDB stated, “The additional subsidies will help to ensure that these flats remain affordable to Singaporeans across a wider range of income levels.”
| Grant Type | Maximum Amount | Who Can Apply |
|---|---|---|
| Enhanced CPF Housing Grant (EHG) | S$120,000 | First-time buyers with lower to middle incomes |
HDB introduced new flat types called Plus and Prime.
These flats have stricter rules to keep them affordable.
Owners must live in these flats for at least 10 years before selling.
HDB explained, “Flat owners of Plus and Prime flats will be required to occupy their flats for at least 10 years before they can sell them in the open market.”
This rule aims to prevent people from buying flats just to make money.
The launch includes 265 Community Care Apartments (CCAs).
These flats are for seniors who want to live independently.
CCAs come with care services to help older residents.
This is part of HDB’s effort to support Singapore’s ageing population.
| Town | Project | Flat Type | Selling Price (Excluding Grants) | Selling Price (Including Grants) | Transacted Prices of Resale Flats Nearby #) |
|---|---|---|---|---|---|
| Standard Projects | |||||
| Bukit Batok | West BrickVille @ Bukit Batok~ | 2-room Flexi | From $140,000 | From $20,000 | $303,000 – $380,000 |
| 3-room | From $247,000 | From $142,000 | $450,000 – $488,000 | ||
| 4-room | From $335,000 | From $255,000 | $555,000 – $648,888 | ||
| 5-room | From $496,000 | From $441,000 | $630,000 – $828,888 | ||
| 3Gen | From $529,000 | From $474,000 | – | ||
| Jurong West | Taman Jurong Skyline | 2-room Flexi | From $109,000 | From $6,000* | $305,000 – $355,000 |
| 3-room | From $209,000 | From $104,000 | $450,000 – $480,000 | ||
| 4-room | From $290,000 | From $210,000 | $563,000 – $680,000 | ||
| 5-room | From $427,000 | From $372,000 | $680,000 – $712,888 | ||
| 3Gen | From $465,000 | From $410,000 | – | ||
| Pasir Ris | Costa Riviera I & II | 2-room Flexi | From $194,000 | From $74,000 | $388,000 – $430,000 |
| 3-room | From $329,000 | From $224,000 | $525,000 – $540,888 | ||
| 4-room | From $481,000 | From $401,000 | $612,000 – $745,000 | ||
| 5-room | From $635,000 | From $580,000 | $825,000 – $843,000 | ||
| 3Gen | From $644,000 | From $589,000 | – | ||
| Sengkang | Fernvale Oasis~ | 2-room Flexi | From $126,000 | From $7,000* | – |
| 3-room | From $277,000 | From $172,000 | $440,000 – $515,000 | ||
| 4-room | From $324,000 | From $244,000 | $526,000 – $668,000 | ||
| 5-room | From $465,000 | From $410,000 | $640,000 – $790,000 | ||
| Woodlands | Marsiling Ridge | 4-room | From $329,000 | From $249,000 | $560,000 – $696,000 |
| 5-room | From $488,000 | From $433,000 | $680,000 – $826,000 | ||
| Plus Projects | |||||
| Ang Mo Kio | Central Trio @ AMK | 2-room Flexi | From $187,000 | From $67,000 | – |
| 4-room | From $481,000 | From $426,000 | $740,000 – $915,888 | ||
| Bedok | Bayshore Vista | 2-room Flexi | From $190,000 | From $70,000 | – |
| 3-room | From $369,000 | From $279,000 | $605,000 – $663,000 | ||
| 4-room | From $453,000 | From $398,000 | $728,000 – $930,000 | ||
| Geylang | Merpati Alcove | CCA+ (30-year Lease) | From $102,000 | From $6,000* | – |
| 4-room | From $530,000 | From $475,000 | $878,000 – $1,080,000 | ||
| Kallang / Whampoa | Kallang View | 2-room Flexi | From $216,000 | From $96,000 | – |
| 3-room | From $388,000 | From $298,000 | $780,000 – $820,000 | ||
| 4-room | From $522,000 | From $467,000 | $868,000 – $1,200,000 | ||
| Prime Projects | |||||
| Kallang / Whampoa | Crawford Heights | 3-room | From $390,000 | From $300,000 | – |
| 4-room | From $568,000 | From $513,000 | $890,000 – $938,000 |
Note: Selling prices are rounded up to the nearest thousand dollars.
^ Unless otherwise stated, the starting prices of the flats are based on 99-year leases. For illustration purposes, the assumed EHG amounts are:
i) CCA: $120,000
ii) 2-room Flexi flat: $120,000
iii) 3-room flat: $105,000 (Standard project) and $90,000 (Plus and Prime project)
iv) 4-room flat: $80,000 (Standard project) and $55,000 (Plus and Prime project)
v) 5-room/3Gen flat: $55,000 (Standard project)
The starting prices after grant amounts are illustrative, assuming that the household incomes of eligible first-time buyers of flats in the Plus and Prime Projects are higher. The actual grant amount received will depend on the household’s income and eligibility. Read more about EHG on the HDB InfoWEB.
~ Prices include the costs of floor finishes, internal doors and sanitary fittings.
* Buyers need to pay 5% of the published price using their CPF and/or cash savings when their EHG amount exceeds 95% of the published price.
+ CCA prices include costs of pre-installed senior-friendly fittings and features, and do not include the costs of the mandatory Basic Service Package and optional services.
# Details on the comparable resale flats can be found on the HDB Flat Portal. In making comparison, please take into account the differences in attributes between the comparable resale flats and the BTO flats.
Do you think the new HDB BTO flats will make it easier for you to buy your first home?
Do you think the 10-year occupancy requirement for Plus and Prime flats is fair, or does it limit your housing choices too much?
Be the first to weigh in.
