4,089 HDB flats have just been launched yesterday, and together with the latest policy changes, this might be good news to many first-time HDB flat applicants.
Launch of 3,373 flats in Punggol and Tampines
3,373 Build-to-order (BTO) flats were launched in the Housing Board’s (HDB) latest exercise.
716 Re-offer of Balance Flats across both mature and non-mature estates were also launched at the same time. This exercise was postponed from last month to allow more home buyers to benefit from the policy changes which were rolled out earlier this week.
See more: September 2019 BTO – What We Know So Far
The new Enhanced Central Provident Fund (EHG) combines 2 existing schemes to allow for grants of up to $80,000.
In fact, with the maximum amount of grants given, first-time families who earn $9,000 or less can purchase a 2-room Flexi flat for $29,000. Income ceilings have also been raised by up to $4,000.
These latest units are located in Punggol and Tampines and consist of a range of 2-room Flexi to 5-room flats.
Prices range from $109,000 for a 2-room Flexi flat in Punggol to $312,000 for a 4-room flat in Tampines.
Punggol units expected to be popular with applicants
Analysts expect the units in Punggol to be popular with applicants as they are located near the future Punggol Coast MRT station.
The units at Punggol Point Crown and Punggol Point Cove will also boast “unblocked sea views”.
While the policy changes have come at an opportune time, buyers may need some time to adjust to the new guidelines, hence applications may not spike simply because of these latest policy shifts. Some buyers may also be holding out for future launches.
Buyers hoping for new flats in other parts of the island will have 4,500 BTO flats in Ang Mo Kio, Tampines and Tengah; and 3,000 BTO units to look forward to in Sembawang and Toa Payoh in November and February respectively.
The application for this exercise ends next Tuesday.