Over 9,000 flats across 10 projects to go on sale in October BTO sales exercise, including first ones in Mount Pleasant and Berlayar

Over 9,000 flats across 10 projects to go on sale in October BTO sales exercise, including first ones in Mount Pleasant and Berlayar
Berlayar's first project, Berlayar Residences, has a subsidy clawback of 14 per cent — the highest seen for BTO flats to date.
PHOTO: Housing and Development Board

More than 9,100 Build-To-Order (BTO) flats have been launched by the Housing and Development Board (HDB) in the October sales exercise, including the first flats in the Mount Pleasant and Berlayar estates.

A total of 10 projects across Ang Mo Kio, Bedok, Bishan, Bukit Merah, Jurong East, Sengkang, Toa Payoh and Yishun are available during the sales exercise, which began on Wednesday (Oct 15), said HDB in a press release on the same day.

Berlayar's first project, Berlayar Residences, has a subsidy clawback of 14 per cent — the highest seen for BTO flats to date.

A subsidy clawback means that upon the sale of their flats, owners have to pay HDB a percentage of the resale or valuation price, whichever is higher.

These clawbacks correspond to the extent of the extra subsidies offered for these flats, said HDB, adding that there is also a 10-year minimum occupation period (MOP) for them.

In comparison, the rates for other Prime flats in the July sales exercise were between 11 and 12 per cent.

Prices and waiting times

Berlayar Residences will have 870 units of two-room flexi, three and four-room flats on a site between Telok Blangah and Labrador Park MRT stations. The wait for a flat there is four years and eight months.

Prices (without grants) range from $218,000 to $369,000 for a two-room flexi flat, $420,000 to $562,000 for a three-room unit, and $578,000 to $788,000 for a four-room flat.

The upcoming blocks will be between 19 and 46 storeys high, and one of them will have rental flats.

As for the other Prime projects, the subsidy clawback rates for Mount Pleasant Crest in Toa Payoh and Redhill Peaks in Bukit Merah are set at 12 per cent, while that for Bishan Terraces is 10 per cent.

Mount Pleasant Crest in Toa Payoh will have a total of 1,350 two-room flexi, three and four-room flats on a site in Thomson Road. It will also have 270 public rental flats. The wait for a flat there is four years and 11 months.

Prices (without grants) range from $209,000 to $373,000 for a two-room flexi flat, $411,000 to $552,000 for a three-room unit, and $558,000 to $787,000 for a four-room flat.

For comparison, three-room resale flats in Toa Payoh recently transacted at between $768,000 and $850,000, and four-room resale flats at between $1.07 million and $1.19 million, said HDB.

Buyers of the three and four-room flats can also opt for "white flats", which are open concept units without partition walls.

Only one project in this exercise, Oak Ville @ AMK , falls under the Plus classification. It has a subsidy clawback of seven per cent and 10-year MOP. 

The five Standard projects — Ping Yi Court in Bedok, Teban Heights in Jurong East, Fernvale Plains in Sengkang as well as Chencharu Grove and Yishun Glade in Yishun — have no clawback and a five-year MOP.

Component of Family Care Scheme takes effect

Minister for National Development Chee Hong Tat said in a Facebook post on Wednesday that the October BTO sales exercise is first where parents and their children, regardless of marital status, can jointly apply for two units in the same BTO project under the Family Care Scheme (Joint Balloting).

This is so that they can live closer together, he said.

In July, first-timer singles were granted priority access within the existing quota for single buyers when they buy a two-room flexi flat near or with their parents.

Chee also said that more than a third of the flats in this launch have shorter waiting times of less than three years. 

These will be Ping Yi Court in Bedok, Fernvale Plains in Sengkang, as well as Yishun Glade and Chencharu Grove in Yishun, according to HDB.

Flat applications can be made through the HDB Portal until 11.59pm on Oct 22.

The next BTO exercise in February will offer about 4,600 flats in Bukit Merah, Sembawang, Tampines and Toa Payoh. About 3,000 balance flats will also be available.

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bhavya.rawat@asiaone.com

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