HDB launches 5,714 flats in Feb 2024 Build-To-Order and Sale of Balance Flats exercises, apply by 28 Feb

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Starts21 Feb 2024 (Wed)Ends28 Feb 2024 (Wed)
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This is the first of the three BTO launches in 2024, with 19,600 new flats to be launched in total

For the Flat Supply and Number of Applications Received statistics

Five out of the seven BTO projects, or over 80% of the BTO flats launched, have a waiting time of less than 3 and a half years.

HDB launched 5,714 flats for sale today, under the Feb 2024 Build-To-Order (BTO) and Sale of Balance Flats (SBF) exercises. Of these, 4,126 BTO flats are offered across seven new BTO projects in different estates. Five out of the seven BTO projects, or over 80% of the BTO flats launched, have a waiting time of less than 3 and a half years. Another 1,588 SBF units, located across various towns/estates, are also being offered for sale.

This is the first of the three BTO launches in 2024, with 19,600 new flats to be launched in total. Having three BTO launches instead of four means that home buyers can look forward to a bigger housing supply, and a wider range of flats and locations, at each of the BTO sales launches. Applicants will thus have a higher chance of success in finding a flat that meets their budget and needs. In addition, a wider gap between sales launches will provide applicants with greater certainty as it reduces the extent of overlaps between flat selection exercises.

To allow more time for applicants to make an informed choice, HDB will extend the 7-day application window to 8 days, with effect from the Feb 2024 BTO exercise.

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  1. Wide Selection of Affordable Flats for Different Budgets and Needs
    1. More than 80% of BTO Flats with Waiting Time of Below 3 Years and 6 Months
    2. Prime Location Public Housing
    3. Advice for Flat Buyers
  2. February 2024 Sale of Balance Flats Exercise
  3. Application for February 2024 BTO and SBF Exercises
  4. Upcoming BTO Exercise in June 2024

Wide Selection of Affordable Flats for Different Budgets and Needs

The seven BTO projects offered in the Feb 2024 exercise are in Bedok, Choa Chu Kang, Hougang, Punggol, Queenstown, and Woodlands. A wide selection of flats, ranging from 2-room to 5-room flats, is offered to meet diverse housing needs and budgets. All new flats are priced with significant market discounts to ensure affordability, and hence selling prices are considerably lower than the transacted prices of comparable resale flats.

Eligible first-timer families can benefit from the Enhanced CPF Housing Grant (EHG) of up to $80,000. With the EHG, flat buyers may buy a 3-room flat at $127,000 or a 4-room flat at $240,000 in the non-mature estate of Choa Chu Kang, and service their monthly mortgage payments using their CPF monthly contributions, with no cash payments.

In the mature estate of Bedok, the prices after grants start from $406,000 for a 4-room flat. See Table 1 for the starting BTO flat prices before and after grants, and the comparable resale prices.

More details on the BTO flat prices and nearby resale transactions can be found in Annex A.

Table 1: Flat Prices in February 2024 BTO Exercise

TownProjectFlat
Type
Selling Price
(Excluding Grants)
Selling Price
(Including Grants ^)
Transacted Prices of
Resale Flats Nearby #
Non-Mature Estates
Choa Chu KangRail Garden @ CCK2-room
Flexi
From $102,000From $22,000$283,000 – $325,000
3-roomFrom $202,000From $127,000$402,500 – $417,000
4-roomFrom $300,000From $240,000$515,000 – $615,000
HougangTanjong Tree Residences @ Hougang ~2-room
Flexi
From $136,000From $56,000
3-roomFrom $247,000From $172,000$408,000 – $438,000
4-roomFrom $371,000From $311,000$530,000 – $654,888
PunggolMatilda Riverside2-room
Flexi
From $131,000From $51,000$325,000 – $360,000
3-roomFrom $242,000From $167,000$425,000 – $455,000
4-roomFrom $318,000From $258,000$530,000 – $605,000
5-roomFrom $464,000From $419,000$650,000 – $745,000
WoodlandsWoodgrove Edge2-room
Flexi
From $119,000From $39,000$320,000 – $348,000
3-roomFrom $223,000From $148,000$415,000 – $470,000
4-roomFrom $303,000From $243,000$520,000 – $615,888
5-roomFrom $412,000From $367,000$620,000 – $718,000
Mature Estates
BedokBedok South Bloom

Bedok North Springs

2-room
Flexi
From $155,000From $75,000
4-roomFrom $451,000From $406,000$690,000 – $858,888
5-roomFrom $605,000From $575,000$870,000 – $970,000
Prime Location Public Housing Model
QueenstownTanglin Halt Courtyard2-room
Flexi
From $235,000From $155,000
4-roomFrom $565,000From $520,000$848,888 – $1,000,000

Note: Selling prices are rounded up to the nearest thousand dollars.
^ Unless otherwise stated, the starting prices of the flats are based on 99-year leases. For illustration purposes, the assumed EHG amounts are:
i) 2-room Flexi flat: $80,000
ii) 3-room flat: $75,000 in non-mature town
iii) 4-room flat: $60,000 in non-mature town and $45,000 in mature town and Prime Location Public Housing Model
iv) 5-room flat: $45,000 in non-mature town and $30,000 in mature town

~ Prices include the costs of floor finishes, internal doors and sanitary fittings.

The starting prices after grant amounts are illustrative, assuming that the household incomes of eligible first-time buyers of flats in the mature towns are higher. The actual grant amount received will depend on the buyers’ income and eligibility. Read more on EHG in HDB InfoWEB.

# Details on the comparable resale flats can be found on the HDB Flat Portal. In making comparison, please take into account the differences in attributes between the comparable resale flats and the BTO flats.

More than 80% of BTO Flats with Waiting Time of Below 3 Years and 6 Months

Five of the seven BTO projects, or more than 80% of the BTO flats available, in this launch have a waiting time of less than 3 and a half years. Flat buyers who are looking to move into their flats sooner can consider applying for the flats at Bedok, Hougang, Punggol and Woodlands.

Prime Location Public Housing

Tanglin Halt Courtyard is offered under the Prime Location Public Housing (PLH) model. Like BTO flats, these PLH flats are priced lower than comparable resale flats, considering the location, individual flat attributes, and prevailing market conditions. Given that new flats in prime locations naturally command higher market values, these PLH flats will be priced with additional subsidies on top of the substantial market discounts applied across all BTO flats. This will ensure that flat prices remain affordable for a wider range of Singaporeans.

To maintain parity with other BTO flat owners who are not accorded these additional subsidies, owners of these flats will have to return 8% of the resale price or valuation (whichever is higher), upon the sale of their flats. Given the complexities in building a high-rise development with 48 storeys, this project has the longest waiting time in this launch.

20% of the PLH flats in Tanglin Halt Courtyard will be set aside for first-timer families; and 2% for second-timer families under the Married Child Priority Scheme. This is two-thirds of the usual quota[1] for BTO flats in mature estates.

Advice for Flat Buyers

Per the current rules for non-selection with effect from October 2023 BTO sales exercise, BTO/ SBF applicants who have received a queue position within the flat supply (e.g. in the December 2023 BTO exercise) will not be eligible to apply for a flat in subsequent BTO/ SBF exercises (e.g. in the February 2024 BTO/ SBF exercises) until after their flat booking appointment. This ensures that they do not crowd out other applicants who have not secured a queue position. HDB encourages all flat applicants to carefully consider when they should apply for a new flat and to book a flat when invited to do so.

Applicants who wish to improve their chances of securing a flat are encouraged to apply for a flat in the non-mature towns, where at least 95% of the 4-room and bigger flats are set aside for first-timer families. To further increase their chances, applicants are encouraged to look out for projects with lower application rates. Information on application rates of each BTO project is available on the HDB Flat Portal, which is updated several times a day throughout the 8-day application window.

Applicants are encouraged to plan their finances carefully and select a suitable flat based on their budget, needs and preferences.

February 2024 Sale of Balance Flats Exercise

In addition, HDB will offer 1,588 SBF flats at various locations. About 12 per cent of the flats have been completed while the rest are in various stages of construction. Like BTO flats, the SBF flats are heavily subsidised and priced considerably lower than comparable resale flats. The starting prices before and after the EHG are set out in Table 2.

Table 2: Starting Flat Prices of Feb 2024 SBF Exercise

Flat TypeSelling Prices*
Before EHGAfter EHG^
Non-Mature Towns
Community Care Apartment (CCA)**
(30-yr Lease)
From $62,000From $4,000+
2-Room Flexi
(99-yr / Remaining Lease)
From $88,000From $8,000
3-RoomFrom $215,000From $140,000
4-RoomFrom $268,000From $208,000
5-RoomFrom $382,000From $337,000
Mature Towns/Estates
2-Room Flexi
(99-yr / Remaining Lease)
From $153,000From $73,000
3-RoomFrom $289,000From $229,000
4-RoomFrom $370,000From $325,000
5-RoomFrom $551,000From $521,000

Note: * Selling prices are rounded up to the nearest thousand dollars. To check the remaining lease of each block, please refer to HDB Flat Portal.

^ Unless otherwise stated, the starting prices of the flats are based on 99-year leases / remaining leases. For illustration purposes, the assumed EHG amounts are:
i) Community Care Apartment: $80,000
ii) 2-room Flexi flat: $80,000
iii) 3-room flat: $75,000 in non-mature towns and $60,000 in mature towns
iv) 4-room flat: $60,000 in non-mature towns and $45,000 in mature towns
v) 5-room flat: $45,000 in non-mature towns and $30,000 in mature towns

The starting prices after grant amounts are illustrative, assuming that the household incomes of eligible first-time buyers of flats in the mature towns are higher. The actual grant amount received will depend on the buyers’ income and eligibility. Read more on EHG in HDB InfoWEB.

** CCA prices include costs of pre-installed senior friendly fittings and features, and do not include the costs of the mandatory Basic Service Package and optional services.

+ Buyers need to pay 5% of the published price using their CPF and/or cash savings when their EHG amount exceeds 95% of the published price.

Application for February 2024 BTO and SBF Exercises

Applicants who wish to participate in the February 2024 BTO and SBF exercises must have a valid HDB Flat Eligibility (HFE) letter[2] when they submit their flat application. It takes about a month to process an HFE letter application after HDB receives all the required documents, and processing may take longer during peak periods like a BTO sales launch. As such, HDB had announced earlier on 8 January 2024 that flat applicants should apply for an HFE letter and submit all required documents by 15 January 2024, to be able to apply for a flat in this sales launch. More information on the HFE letter is available on the HDB InfoWEB.

Flat applications can be made online via HDB Flat Portal from today (21 February 2024) to 28 February 2024. Applicants can apply for only one flat type/category in one town under either the BTO or SBF exercise. There is no need to visit HDB Hub to get the information or make an application. HDB will shortlist applicants using a computer ballot, and not on a first-come-first-served basis. Hence, applicants do not need to rush to submit applications within the first few hours or even the first few days of the application period and can submit their application any time during the 8-day period. More details on the application procedures can be found in Annex B.

All the information on the flats offered is available on the HDB Flat Portal

Applicants without Internet access may seek support from their family members. Those who need further assistance, such as seniors without family support, may call the HDB Sales/Resale Customer Service Line at 1800 – 866 3066.

Upcoming BTO Exercise in June 2024

In June 2024, HDB will offer about 6,800 flats in Jurong East, Kallang/Whampoa, Queenstown, Tampines, Woodlands, and Yishun. The supply will be subject to review, as project details are firmed up closer to the launch date. Flat buyers interested to apply for a flat must have a valid HFE letter. HDB encourage sall flat buyers to apply for an HFE letter early and submit all required documents by 15 May 2024 if they are interested to participate in the June 2024 sales launch.

HDB is committed to providing affordable and accessible housing options to buyers, and will continue to monitor the housing demand closely, making adjustments where necessary. HDB says that remains on track to launch a total of 100,000 flats from 2021 to 2025.

[1] The priority quota for BTO flats in mature estates are 30% for first-timer families, and 3% for second-timer families.

[2] The HFE letter will inform flat buyers upfront of their eligibility for a new or resale flat purchase, CPF housing grants, and HDB housing loan, including the respective grant and loan amounts. With effect from 7 Nov 2023, HDB extended the validity of all existing and new HFE letters to 9 months.

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