960 Rochor BTO flats launched under prime location model; HDB to claw back 6% of resale price

The highly anticipated PLH project - River Peaks I and II in Rochor - comes with stricter buying and selling conditions.
The highly anticipated PLH project - River Peaks I and II in Rochor - comes with stricter buying and selling conditions.PHOTO: HDB

SINGAPORE - A total of 4,501 Build-To-Order (BTO) flats were launched for sale by the Housing Board on Wednesday (Nov 17), including 960 units in Rochor - the first project under a new prime location public housing (PLH) model - which come with a 6 per cent subsidy clawback clause upon their resale.

The units are spread across nine housing projects in six estates, with a median waiting time of 4.4 years for flats to be completed.

In addition, another 1,798 flats were on offer in this year's second, and final, Sale of Balance Flats (SBF) scheme.

In total, 6,299 new flats were launched on Wednesday.

The highly anticipated PLH project - River Peaks I and II in Rochor - comes with stricter buying and selling conditions.

A total of 960 three-room and four-room flats are on offer across six 47-storey blocks. One of the blocks will include 40 two-room rental flats. 

The project sits on two plots of land along Weld Road and Kelantan Road and is directly connected to Jalan Besar MRT station.

Prices start from $409,000, without grants, for a three-room flat and $582,000 for a four-room flat, making them the most expensive units in a mature estate in this launch.

The prices are slightly higher than those in August's Queenstown BTO project, Queen's Arc, where the price of a three-room flat started from $382,000 and a four-room flat from $540,000.

The estimated floor area of the Rochor units is also slightly smaller, with three-room units at 66 sq m each and four-room units at 88 sq m each.

In Queen’s Arc, three-room units have an approximate floor area of 69 sq m each, with four-room units at 93 sq m each.

Under the PLH model, owners of these Rochor flats will pay 6 per cent of the resale price or valuation, whichever is higher, to HDB when they sell their home on the open market for the first time.

The subsidy clawback applies to only the first resale transaction and does not apply to subsequent resales.

This is because HDB has to provide additional subsidies on top of those provided for all BTO flats in order to launch these prime area flats at affordable prices.

All subsidies are factored into flat prices when they are launched as BTO flats.

In order to prevent excessive windfall gains when owners sell their flats on the open market, HDB said it will claw back the additional subsidies.

This also means that owners who choose not to sell their flats will not get their subsidies clawed back.

Owners will also be subject to a 10-year minimum occupation period, up from the five years for other flats, before they can sell their flats on the open market.

This comes on top of the 71 months - just under six years - estimated waiting time for these flats, as the project is estimated to be completed in the second quarter of 2028.

The longer construction time for the Rochor project is due to the height  of the blocks and the proximity to Jalan Besar MRT station, which require more preparation work as well as compliance with more stringent requirements by the authorities.

This means owners will likely be able to resell these flats only some time in 2038.

The pool of resale buyers of these Rochor flats will also be limited to households which earn not more than $14,000 a month, with at least one applicant being a Singapore citizen.

The PLH model - to ensure that new public housing in prime, central locations will remain affordable, accessible and inclusive for Singaporeans - comes after almost a year of public consultations.

At least one prime location housing project will be launched each year, although the proportion of flats will differ year on year to ensure a diverse supply across estates.

Seniors can have their pick in the current sales exercise, with 68 two-room flexi flats on offer in a second "vertical kampung" in the non-mature estate of Choa Chu Kang.

The Heart of Yew Tee is an integrated development and houses Choa Chu Kang's first hawker centre, a polyclinic, a community club, a kidney dialysis centre, a community plaza and retail shops.


The Heart of Yew Tee is an integrated development. PHOTO: HDB/FACEBOOK

Flats will come with elderly friendly fittings and smart distribution boards.

Prices start from $72,000 without grants, and only seniors aged 55 and above can apply for these flats.

The project sits adjacent to YewTee Point shopping mall, which has a sheltered linkway to Yew Tee MRT station.

The estimated completion date is in the first quarter of 2026, so buyers have to wait about four years for their homes.

It is Singapore's third integrated development with housing for seniors, after Kampung Admiralty in Woodlands and the community care apartments - a type of assisted living public housing - in Harmony Village @ Bukit Batok.

In the current November launch, the only other BTO project in a mature estate is Kent Heights in Kallang/Whampoa.

A total of 430 two-room flexi and four-room flats are on offer, on a site along Owen Road, next to the Central Expressway.

Prices start from $192,000 for a two-room flexi flat and $511,000 for a four-room flat.


In the current November launch, the only other BTO project in a mature estate is Kent Heights in Kallang/Whampoa. PHOTO: HDB/FACEBOOK

The estimated completion date is in the fourth quarter of 2026, which means buyers will have to wait more than four years for them to be ready.

There are two BTO projects in the non-mature estate of Hougang.

The bigger project is Hougang Olive, where 390 four-room and five-room flats are on offer on a site bounded by Hougang Avenue 3, Hougang Street 12 and Hougang Street 13.

Prices start from $308,000 for a four-room flat and $416,000 for a five-room unit.


There are two BTO projects in the non-mature estate of Hougang. The bigger project is Hougang Olive. PHOTO: HDB/FACEBOOK

The waiting time is about three years, as these flats are slated for completion in the first quarter of 2025, making these one of the earliest projects to be ready in this launch.

The smaller project, which sits on an adjacent site, is Tanjong Tree Residences @ Hougang, where 300 four-room and five-room units are on offer.


The smaller project, which sits on an adjacent site, is Tanjong Tree Residences @ Hougang, where 300 four-room and five-room units are on offer. PHOTO: HDB/FACEBOOK

Prices start from $318,000 for a four-room flat and $419,000 for a five-room unit.

These flats are estimated to be ready in about four years, in the second quarter of 2026.

In the non-mature estate of Jurong West, 221 three-room and four-room flats are on offer at Nanyang Opal, on a site bounded by Jurong West Street 92 and 93.


In the non-mature estate of Jurong West, 221 three-room and four-room flats are on offer at Nanyang Opal. PHOTO: HDB/FACEBOOK

Prices start from $173,000 for a three-room flat and $264,000 for a four-room flat, making them the most affordable in this sales exercise.

These flats are estimated to be completed in the fourth quarter of 2025, so buyers have to wait around 3½ years for them.

Tengah, Singapore's newest town, has two BTO projects in the Park district.

The bigger project is Parc Clover @ Tengah, where 1,124 two-room flexi, three-room, four-room and five-room flats are on offer.

Prices start from $119,000 for a two-room flexi, $312,000 for a four-room and $428,000 for a five-room flat.

The smaller project is Parc Glen @ Tengah , where 1,008 two-room flexi, three-room, four-room and five-room flats are on offer.

Prices start from $120,000 for a two-room flexi, $194,000 for a three-room, $319,000 for a four-room and $436,000 for a five-room flat.


The smaller project is Parc Glen @ Tengah , where 1,008 two-room flexi, three-room, four-room and five-room flats are on offer. PHOTO: HDB/FACEBOOK

Flats in both Tengah projects are slated for completion in the fourth quarter of 2024, with a waiting time of around 2½ years, making them among the fastest to be completed in this launch.

The 1,798 units offered under the SBF scheme are spread across mature and non-mature estates such as Bishan, Bukit Merah, Clementi, Queenstown and Punggol.

About 31 per cent of them are completed, while the rest are in various stages of construction.

These flats are expected to be popular among buyers as the completion date of BTO projects has been stretched longer due to the manpower shortage and supply disruption in the construction industry arising from the Covid-19 pandemic.

Applications for the flats close on Nov 23 at 11.59pm on the HDB flat portal. The flats will be allocated through balloting.

Next February, about 3,900 flats will be offered in towns such as Geylang, Kallang/Whampoa, Tengah and Yishun.

Another 5,200 to 5,700 flats will be offered in towns such as Bukit Merah, Jurong West, Queenstown, Tampines, Toa Payoh and Yishun in May next year.

The exact location of these projects and the number of flats at each site will be released closer to the launch date.