For the first time in almost a decade, about 610 Build-To-Order (BTO) flats will be launched for sale in Queenstown, Singapore's oldest town and one of the most sought-after mature housing estates.
Another 560 BTO flats will be launched in Jurong East, which will be getting its first new units in 10 years.
The two housing projects are among seven BTO sites offering about 4,900 flats that will be launched by the Housing Board in August.
The yet-to-be-named BTO project in Queenstown will be located next to Alexandra Hospital and Alexandra Fire Station along Queensway, offering three-room and four-room units.
The last BTO launch in Queenstown was the Ghim Moh Edge project in November 2012 with 1,179 studio apartments and three-and four-room flats for sale. Prices then started from $310,000, without grants, for a three-room unit, and $450,000 for a four-room one.
Over in Jurong East, a non-mature town, about 560 two-room flexi, three-room and four-room flats will be built on a site near the upcoming Toh Guan MRT station on the Jurong Region Line.
The last BTO launch for Jurong East was Teban View in September 2011, when 518 three-and four-room flats were released for sale. Prices then started from $158,000 for a three-room unit, and $271,000 for a four-room one.
The other estates in the upcoming August launch are Kallang/ Whampoa, Tampines and Hougang.
Prior to that, HDB will offer about 3,800 BTO flats in Bukit Merah, Geylang, Tengah and Woodlands in May.
The Straits Times reported in October 2019, before the Covid-19 pandemic hit, that more than 5,000 new HDB flats could be launched in Queenstown by 2027. Of these, about 2,060 could be available for sale as early as this year or next year.
Analysts expect the Queenstown flats to be very popular with buyers and will likely be oversubscribed due to the built-up amenities and central location.
Citing 114 four-room resale flats that changed hands last year in Dawson Road, which is part of Queenstown, Ms Christine Sun, senior vice-president of research and analytics at OrangeTee & Tie, said they were transacted at an average price of around $840,000. Another 14 five-room resale flats there fetched an average price of $990,000.
"The high selling price and capital appreciation may be another reason why buyers could be attracted to the next BTO exercise in Queenstown," she said.
Michelle Ng
