HDB launches 3,819 flats for sale in May 2022 BTO exerciseHDB has launched 4,428 flats for sale across five sites located in four towns through the February 2023 Build-To-Order (BTO) exercise. The two Prime Location Public Housing (PLH) projects offered in this batch are Ulu Pandan Glades in Queenstown, comprising 732 units of three- and four-room flats, and Farrer Park Fields in Kallang and Whampoa, which has 1,274 units of two-room flexi, three-room and four–room flats.

In addition to these two prominent projects, HDB is also offering 510 three- and four-room flats in two 40-storey blocks in Kallang, Whampoa, along Jalan Rajah; 271 three- and four-room flats in two 18-storey blocks in Jurong West, along Jurong West Street 93; and 1,641 units across 12 residential blocks in Tengah, bounded by Brickland Road and Tengah Boulevard. This is the only site in this batch offering five-room flats.

As the first BTO exercise following the Budget announcement, measures announced to help first-time homebuyers may divert some BTO demand to the resale market. This could also be partially attributed to the offer of higher CPF housing grants for those looking to buy resale flats. Further aid for first-time buyers will be seen when allowing first-time families to get an additional ballot for their BTO applications, expected in the August BTO exercise.

High demand is expected for many of the projects, particularly the PLH projects, due to their close proximity to amenities and MRT stations. The Farrer Park Fields project, for instance, is close to Farrer Park Primary School and the upcoming Piccadilly Galleria, Tekka Market, and City Square Mall. The site in Queenstown, Ulu Pandan Glades, is also located near to Dover MRT Station.

Despite the absence of an MRT station, the Jalan Rajah site may still garner strong interest, due to its location near the community hub of Toa Payoh Central. Meanwhile, the Tengah developments may encourage more applicants given the relocation of ACS Primary to the estate in 2030, and the Jurong West project may benefit from its location near Pioneer MRT Station.

Indicative prices excluding grants for the units offered in this BTO exercise range from $97,000 for a two-room flexi flat in Tengah, JCube Residence to $541,000 for a four-room flat in Queenstown. Given the government measures introduced in the Budget announcement, consultants expect strong competition for the available flat types in this batch.