The Housing Development Board (HDB) announced today that it will be launching two new Build To Order (BTO) projects in Sengkang and Sembawang, offering a total of 828 flats in the batch. 95% of these units will be set aside for first-time buyers.

Fernvale Ridge in Sengkang will have 522 standard flats, comprising 180 units of 3-room, 216 units of 4-room and 126 units of 5-room flats. Sembawang Riverlodge will offer 306 units for sale, comprising 86 units of 3-room and 220 units of 4-room flats.

PropNex CEO Mohamed Ismail thinks both projects will be a hit with the public.

“Firstly, there are a total of only 828 units on offer for these two BTOs,” pointed out Ismail. “Which is barely half of the 1,534 units offered in February’s BTO projects in Punggol and Woodlands.”

He continued, “Recent BTOs have offered studio apartments which do not make much sense to a young couple who are looking to start a family, as they will be locked into the BTO flat for a further five years after collecting their keys. Flats offered at the Fernvale Ridge and Sembawang RiverLodge BTOs only consist of 3-room, 4-room and 5-room flats.”

Ismail highlighted the very attractive pricing for both the projects. “The median prices for a 4-room flat in Fernvale Ridge in Sengkang and Sembawang RiverLodge, at just $243,500 and $240,000, are 35% and 24% cheaper respectively than the median resale prices for similar flats in their areas,” he said.

Ismail expects the two projects to be well-oversubscribed by at least eight times each.