An artist's illustration of Tampines GreenVines, one of the Build-To-Order project launches in May. PHOTO: HOUSING DEVELOPMENT BOARD
SINGAPORE - The Housing Board (HDB) launched 3,970 Build-To-Order (BTO) flats across four projects in Sengkang, Yishun, Toa Payoh and Tampines on Tuesday (May 22), in the second such exercise this year.
Prices without grants range from $76,000 for a two-room Flexi flat in non-mature estate Yishun, to more than $422,000 for a five-room flat in mature estate Tampines.
About 17,000 BTO flats are expected this year.
An artist's illustration of Kim Keat Beacon in Toa Payoh, one of the Build-To-Order project launches in May. PHOTO: HOUSING DEVELOPMENT BOARD
This month's exercise is the first where measures announced at the Ministry of National Development's budget debate this year will take effect.
The assessment of income for young couples - used for housing loans and grants - will be deferred to just before they collect keys to their homes instead of at the time of application.
An artist's illustration of Casa Spring in Yishun, one of the Build-To-Order project launches in May. PHOTO: HOUSING DEVELOPMENT BOARD
A revised proximity condition will also kick in. Those applying for a flat under the Married Child Priority Scheme and Senior Priority Scheme may do so if their parents/married child are living within 4km of the flat they are applying for. The proximity condition was previously defined as living in the same town, or within 2km.
Also on offer are 3,022 flats under the Sale of Balance Flats (SBF) exercise. About 34 per cent of these are already completed and the rest are under construction.
Applications for the May BTO and SBF exercise can be submitted online on the HDB InfoWEB from Tuesday to next Monday.
The next BTO launch in August will offer about 4,300 flats in Punggol and Yishun.
This article was first published in The Straits Times.