HDB releases 8,000 flats for sale

HDB releases 8,000 flats for sale

THE Housing Board yesterday put a bumper crop of 8,000 flats on the market.

The highly anticipated launch will see new measures kick in to help couples expecting a child, second-timers and divorcees seeking to downgrade, and seniors looking for a studio apartment get a flat.

But with 3,100 balance flats on offer, including coveted units in Queenstown, Toa Payoh and Pinnacle@Duxton in central Singapore, property analysts are urging home seekers to choose carefully given the expected high demand.

"By widening the net of eligibility, we expect to see a strong response for the choice balance units," said Mr Nicholas Mak, head of research at property firm SLP International. "But it's a double-edged sword for these applicants due to increased competition, so they need to weigh their chances carefully."

Balance flats are more sought after as they are either already built or close to completion, unlike Build-To-Order (BTO) units which may involve a wait of up to three years.

The 3,100 balance units being offered are spread out across many towns. But notable units include a $769,000 five-room flat at Pinnacle@Duxton, considered to be one of HDB's most up- market developments with high resale value, according to analysts.

Also on the market is an 18-year-old repurchased executive apartment in Mei Ling Street that spans more than 1,600 sq ft and costs $760,000.

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