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| Starts | 29 Aug 2018 (Wed) | Ends | 3 Sep 2018 (Mon) |
|---|---|---|---|
| Location | HDB |
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HDB has launched 5,101 flats for sale under the August 2018 Build-To-Order (BTO) and Re-Offer of Balance Flats (ROF) exercise.
This includes 4,375 BTO units and 726 ROF units across various towns/ estates.
August 2018 BTO Exercise
A wide selection of flats, ranging from 2-room Flexi to Three-Generation (3Gen) flats, is offered to meet the diverse housing needs of first-timers, second-timers, multi-generation families, elderly and singles. Further details can be found in Annex A1.
The 4,375 BTO flats on offer are spread across four projects in the non-mature towns of Punggol and Yishun.
Eligible first-timer families can enjoy up to $80,000 of housing grants, comprising the Additional CPF Housing Grant (AHG) (up to $40,000) and the Special CPF Housing Grant (SHG) (up to $40,000). With these grants, buyers of 2-room Flexi, 3-room, 4-room and 5-room flats could pay as little as $4,000[1], $103,000, $188,000 and $329,000 respectively.
New HDB flats are priced with a generous subsidy, taking into account factors such as location, flat attributes and prevailing market conditions.
HDB’s prices are considerably lower than transacted prices of comparable resale flats in the vicinity (see Table 1 for the BTO prices and the comparable resale prices). In addition, 2-room Flexi flats are priced taking into account the lease chosen, as shown in Annex A2.
Table 1: August 2018 BTO Prices
| Town | Contract | Flat Type | Transacted Prices of Resale Flats in the Vicinity# | Selling Price (Excluding Grants**) | Selling Price (Including Grants^) |
|---|---|---|---|---|---|
| Non-Mature Towns | |||||
| Punggol | Punggol Point Cove | 2-room Flexi* | $250,000 – $268,000 | From $103,000 | From $23,000 |
| 3-room | $300,000 – $350,000 | From $188,000 | From $113,000 | ||
| 4-room | $398,000 – $460,000 | From $286,000 | From $226,000 | ||
| 5-room | $549,000 – $628,000 | From $393,000 | From $388,000 | ||
| 3Gen | – | From $411,000 | From $406,000 | ||
| Yishun | Yishun Glen ~ | 2-room Flexi* | – | From $75,000 | From $4,000+ |
| 3-room | – | From $178,000 | From $103,000 | ||
| 4-room | $303,000 – $445,000 | From $248,000 | From $188,000 | ||
| 5-room | $390,000 – $483,000 | From $334,000 | From $329,000 | ||
Note:
1) * 2-room Flexi flats come in two sizes – 36 / 38 sqm (Type 1) and 45 sqm (Type 2).
^ The assumed housing grants are for applicants applying as a family nucleus or two singles under the Joint Singles Scheme for a 2-room Flexi flat. Eligible first-time flat buyers can apply for housing grants of up to $80,000, comprising AHG of $40,000 and SHG of $40,000. SHG is applicable only to 2-room Flexi, 3-room and 4-room flats in the non-mature towns. For illustration purposes, the assumed total grants adopted for the projects in the above table are as follows:
i) 2-room Flexi flat: $80,000 in non-mature towns
ii) 3-room flat: $75,000 in non-mature towns
iii) 4-room flat: $60,000 in non-mature towns
iv) 5-room flat / 3Gen flat: $5,000 in non-mature towns
The starting prices and assumed grant amounts are illustrative. The actual grant amount received will depend on buyers’ income, choice of flat type/ estate and eligibility for housing grants. Read more on various CPF Housing Grants available.
~ Prices include the costs of floor finishes, internal doors and sanitary fittings.
+ Buyers are required to pay 5% of the published price using their own CPF and/ or cash savings when the total housing grants (i.e. AHG and SHG) they can enjoy exceeds 95% of the published price of the flat. Excess housing grants, if any, can be used to pay for Optional Component Scheme (OCS) items and premiums that singles and Singapore citizen/ Singapore permanent resident households have to pay, before crediting the balance into the Singaporean buyers’ CPF accounts.
# Details on the comparable resale flats in the vicinity for each BTO project can be found on the HDB e-Sales website. The differences in attributes between the comparable resale flats and the BTO flats should be taken into account when making a comparison.
** Singles who apply for a 2-room Flexi flat under the Single Singapore Citizen (SSC) Scheme will pay $15,000 more than married couples. Eligible singles can also apply for AHG and SHG. The additional amount payable and the grants will vary based on the choice of lease tenure. The actual grant amounts will vary according to income. Read more on various CPF Housing Grants available.
2) Selling prices (excluding and including grants) quoted above are rounded up to the nearest thousand dollars.
5 First-timer families will continue to enjoy priority in flat allocation[2]. Married/ courting couples who wish to live together with their parent(s) can apply for a 3Gen flat in Punggol Point Cove. Applicants who wish to live close to their parents or married children, in the same BTO project, can submit a joint application under the Multi-Generation Priority Scheme (MGPS)[3]..
August 2018 ROF Exercise
In this sales exercise, HDB will also offer 726 unselected flats from the November 2017 Sale of Balance Flats (SBF) and February 2018 ROF exercises. They comprise 67 units of 2-room Flexi, 171 units of 3-room, 294 units of 4-room, 152 units of 5-room, 33 units of 3Gen and 9 units of executive flats across various towns/ estates.
HDB will set aside at least 95% of the flat supply for first-timer families and up to 5% for second-timer families. Elderly may apply if they meet the prevailing eligibility conditions to buy a 2-room Flexi flat. Families will enjoy priority for flat selection.
ROF flats come in a wide range of flat types, locations and selling prices (see Table 2). About 58% are already completed and the rest are under construction. Eligible families with more urgent housing needs and/ or who are less particular about location and attributes may wish to apply.
Under ROF, home buyers will be able to select their flats quicker, and from a bigger pool of balance flats for different flat types and in different locations. The pricing details and applicable ethnic quotas of the ROF flats offered are in Annex B.
Table 2: Summary of August 2018 ROF Prices
| Flat Type | Selling Price (Excluding Grants) | Selling Price (Including Grants)^ |
|---|---|---|
| Non-Mature Towns | ||
| 3-Room | From $165,000 | From $90,000 |
| 4-Room | From $236,000 | From $176,000 |
| 5-Room | From $296,000 | From $291,000 |
| 3Gen | From $332,000 | From $327,000 |
| Executive | From $461,000 | From $461,000 |
| Mature Towns | ||
| 2-Room Flexi (99-year/remaining lease)* | From $150,000 | From $110,000 |
| 3-Room | From $180,000 | From $160,000 |
| 4-Room | From $289,000 | From $284,000 |
| 5-Room | From $374,000 | From $374,000 |
| 3Gen | $565,000 | $565,000 |
| Executive | From $585,000 | From $585,000 |
Note:
1) ^The assumed housing grants are for applicants applying as a family nucleus or two singles under the Joint Singles Scheme for a 2-room Flexi flat. Eligible first-timer flat buyers can apply for housing grants of up to $80,000, comprising AHG of $40,000 and SHG of $40,000. SHG is applicable only to 2-room Flexi, 3-room and 4-room flats in the non-mature towns. For illustration purposes, the assumed total grants adopted for the above table are as follows:
i) 2-room Flexi flat: $40,000 in mature towns
ii) 3-room flat: $75,000 in non-mature towns and $20,000 in mature towns
iii) 4-room flat: $60,000 in non-mature towns and $5,000 in mature towns
iv) 5-room flat / 3Gen flat: $5,000 in non-mature towns.
The starting prices and assumed grant amounts are illustrative. The actual grant amount received will depend on buyers’ income, choice of flat type/ estate and eligibility for housing grants. Read more on various CPF Housing Grants available.
* The starting prices of flats offered under 2-room Flexi scheme are based on 99-year/ remaining lease. Buyers can refer to the prices of individual flats on short lease in the HDB InfoWEB.
2) Selling prices (excluding and including grants) quoted above are rounded up to the nearest thousand dollars.
3) To check the lease commencement date of each block, please refer to esales.hdb.gov.sg.
Flexibility to Retain Up to $20,000 in CPF OA When Taking HDB Loan
Previously, flat buyers had to fully utilise the balances in their CPF Ordinary Account (OA) to pay for their flat purchase, before they took up an HDB housing loan. From today, flat buyers taking an HDB housing loan will have the option of retaining up to $20,000 each in their CPF OA.
The remaining CPF OA balance will be used to pay for their flat purchase. This option will be available to flat buyers who have yet to collect the keys to their new flats, as well as resale applications received from today.
The option to retain some balance in their CPF OA will provide flat buyers with greater flexibility in using their CPF funds. The funds can be used for their monthly mortgage instalments in times of need and will improve retirement adequacy if left unutilised. Flat buyers who wish to use all their CPF OA balances for their flat purchase may continue to do so.
Application for August 2018 BTO and ROF Exercise
Application for new flats launched in the August 2018 BTO and ROF exercise can be submitted online on the HDB InfoWEB from today, 28 August 2018 (Tuesday) to 3 September 2018 (Monday). Applicants can apply for a flat under either the BTO or ROF exercise, but not both.
If they apply for a BTO flat, they must select only one flat type in one town. If they apply for a ROF flat, they do not have to indicate their preferred flat type and town/ estate in their application. Invited ROF applicants may select their preferred flat from the whole range of available units, regardless of flat type or town/ estate, if eligible.
Applicants who wish to take up an HDB housing loan for their flat purchase need to produce a valid HDB Loan Eligibility (HLE) Letter when they book a flat, except for young couples who are eligible for deferment of income assessment. All applicants are encouraged to apply for an HLE Letter early so that they can plan their flat purchase in advance. The HLE Letter will indicate the maximum loan that can be offered based on individuals’ financial situation. Applicants can check their loan eligibility and apply for an HLE letter at www.hdb.gov.sg/hleapply.
Advice for Flat Buyers
Applicants are encouraged to apply for a BTO flat in non-mature towns to enjoy a higher chance of success in securing a flat and more housing grants, including the SHG. Applicants with more urgent housing needs and are less particular about location and attributes may wish to consider applying for an ROF flat.
All the information on the BTO and ROF flats on offer is available on the HDB InfoWEB. The number of applications submitted under BTO and ROF exercise will also be updated regularly on the HDB InfoWEB. Applicants are encouraged to check for updates before submitting their application.
For their own convenience, HDB would like to advise interested flat buyers to view the details of the flats online via the HDB InfoWEB. They do not need to make a trip down to HDB Hub.
Flat applications are not processed on a first-come, first-served basis. HDB will shortlist applicants using a computer ballot. Flat applicants have 7 days to consider and may submit their online application at any time before the closing date. They need not rush to put in their applications. More details on the application procedures can be found in Annex C.
For enquiries, the public can:
- Log on to esales.hdb.gov.sg; or
- E-mail hdbsales@mailbox.hdb.gov.sg; or
- Visit the HDB Sales Office to speak with HDB’s Customer Relations Executives during office hours (Monday to Friday 8 am to 5 pm, Saturday 8 am to 1 pm).
Next BTO Launch in November 2018
In November 2018, HDB will offer about 3,800 flats in Sembawang, Sengkang, Tampines, Tengah and Yishun. Of these, the flats in Sembawang, Sengkang and Yishun will have a shorter waiting time of 2.5 years instead of the typical three to four years. These are the first batch of projects with shorter waiting times that were first announced in 2017. More information on the BTO flats is available on the HDB InfoWEB. A concurrent SBF exercise will be held.
Footnotes
[1] Buyers are required to pay 5% of the published price using their CPF and/ or cash savings when the total housing grants (i.e. AHG and SHG) they can enjoy exceed 95% of the published price of the flat. In this case, the total grants are $80,000 whereas the selling price is $75,000. Hence, a minimum payment of 5% of the published price, i.e. $4,000, is required. The excess AHG and SHG will be credited into the buyers’ CPF accounts.
[2] At least 85% (for 4-room and 5-room flats) and 70% (for 3-room flats) of the BTO public flat supply in the non-mature towns are set aside for first-timer families.
[3] Up to 15% of the 2-room Flexi and 3-room flats in a BTO project (subject to a minimum of 20 units each) are set aside for parents applying under MGPS. The same number of 2-room Flexi and bigger flats are set aside in the same BTO project for their married children.
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