February 2023 BTO exercise sees 4,428 flats launched for sale

HDB has launched 4,428 flats for sale in February 2023 Build-To-Order (BTO) exercise across five sites in four towns — Queenstown, Kallang, Whampoa, Jurong West and Tengah. Among these, two have been designated Prime Location Public Housing (PLH) projects. This is the first BTO exercise since the Budget announcement and measures targeted at first-time home buyers.

Christine Sun, senior vice president of research and analytics at OrangeTee & Tie, believes the higher CPF housing grants for those buying resale flats could divert BTO demand there. “We may expect more eligible buyers to buy at popular locations, such as mature estates,” she says, “or they may buy slightly bigger flats.” Sun adds that families in their first home may wait until the August BTO exercise, when the government will allow them an additional ballot.

The two PLH sites are Ulu Pandan Glades in Queenstown, along Ghim Moh Link and Commonwealth Avenue West, and Farrer Park Fields in Kallang and Whampoa, bounded by Race Course Road, Hampshire Road and Farrer Park Road. Ulu Pandan Glades has 732 three- and four-room flats, with indicative prices starting at $372,000 and $541,000 respectively. Farrer Park Fields has 1,274 two-room flexi, three-, and four-room flats, with indicative prices starting at $185,000, $356,000 and $484,000 respectively.

The other three projects include one in Kallang and Whampoa, along Jalan Rajah with 510 three- and four-room flats, starting from $326,000 and $459,000 respectively. In Jurong West, there are 271 three- and four-room flats in two 18-storey blocks along Jurong West Street 93, priced from $187,000 and $288,000. Finally, the Tengah estate’s Brickland district offers 1,641 two-room flexi, three-, four- and five-room flats, starting from $97,000, $190,000, $291,000 and $401,000.

The PLH projects, Farrer Park Fields and Ulu Pandan Glades, are expected to draw much interest due to their proximity to MRT stations. Consultants believe the Jalan Rajah project Champions Way Condo is likely to draw high demand due to its location near Toa Payoh Central, while Tengah may attract more applicants following the announcement of ACS Primary’s relocation to the town in 2030. Finally, the Jurong West block may see competition given its close proximity to the Pioneer MRT Station, but the limited number of flats may make securing a ballot difficult.