HDB launches flats for sale in Punggol and Tampines

A woman looking at models of HDB flats in Punggol at an exhibition at the HDB Hub in Toa Payoh, on Sept 11, 2019.
A woman looking at models of HDB flats in Punggol at an exhibition at the HDB Hub in Toa Payoh, on Sept 11, 2019.ST PHOTO: KUA CHEE SIONG

The Housing Board (HDB) launched 4,089 flats for sale yesterday, a day after higher grants and higher income ceilings for flat buyers were announced.

A total of 3,373 Build-To-Order (BTO) flats in Punggol and Tampines are up for sale, and they include flats ranging from two-room flexi to five-room units.

Prices start from $109,000 excluding grants for a two-room flexi flat in Punggol, and from $312,000 for a four-room flat in Tampines.

The sales exercise had been pushed from last month to this month to allow more home buyers to benefit from the latest changes, which include raising the income ceiling for Singaporeans to buy HDB flats by $2,000 to $14,000.

Another major change is the new Enhanced Central Provident Fund Housing Grant (EHG) of up to $80,000. It replaces two previous grants, but allows more people to benefit as it has a higher income cap and does not impose any restrictions on the flat size or location.

With the EHG - given to first-timer families earning $9,000 and less - buyers can purchase a two-room flexi flat in Punggol for as little as $29,000 after housing grants.

Huttons Asia research director Lee Sze Teck expects the two sites in Punggol - Punggol Point Crown and Punggol Point Cove - to be more popular, as they are near the future Punggol Coast MRT station and near the coast, "where they can get an unblocked view of the sea".

But he added that he did not think there would be a significant spike in applicants just because of the new announcements. "Buyers need time to digest the information and decide whether to buy. Some buyers might hold out for the upcoming launches."

PropNex chief executive Ismail Gafoor said the "strategically located" Tampines GreenGlen is likely to see more than eight applicants for each of its 649 units.

 
 
 
 

Also, bigger units may be more popular, given the higher grants. Mr Ismail predicted double-digit subscription rates for the 722 five-room flats in both Punggol and Tampines.

Also up for sale are 716 Re-Offer of Balance Flats across various towns in mature and non-mature estates.

These are unsold flats from the sales exercise last November. About 12 per cent of these homes are already completed, while the rest are being built.

The application process ends next Tuesday.

In November, the HDB will offer 4,500 BTO flats in Ang Mo Kio, Tampines and Tengah. In total, the authorities are on track to launch 15,000 flats this year.

Another 3,000 BTO flats in Sembawang and Toa Payoh will be released next February. The supply of BTO flats next year is likely to go up, to meet anticipated demand from the policy changes.

A version of this article appeared in the print edition of The Straits Times on September 12, 2019, with the headline 'HDB launches flats for sale in Punggol and Tampines'. Print Edition | Subscribe