Singapore launches 4,000 flats in sales exercise
Launches announced in the wake of increased housing grants and raised income ceilings
The Singaporean government is increasing the supply of build-to-order (BTO) and re-offer of balance (ROF) flats, meeting head-on an anticipated demand for public housing from the recent housing grant changes.
The Housing and Development Board launched Wednesday some 3,373 BTO flats and 716 re-offered balance flats for sale across the city-state.
The BTO flats will be offered across three projects: Punggol Point Crown, Punggol Point Cove and Tampines GreenGlen situated in the towns of Punggol and Tampines.
The sales exercise comes on the heels of recently promulgated increases to housing grants and income ceilings for subsidised housing seekers. With the enhancements, those buying a five-room flat in non-mature towns or a flat in the mature towns can now receive more housing grants.
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For instance, a five-room flat in the non-mature town of Punggol will sell from just SGD378,000 under the Enhanced CPF Housing Grant (EHG). In the mature town of Tampines, a four-room flat can sell as low as SGD267,000 on a grant.
The September sales exercise also includes a re-offering of HDB flats that were unselected from the November 2018 Sale of Balance Flats exercise.
HDB will reserve at least 95 percent of the flat supply for first-timer families, while up to five percent will be allocated to second-timer families. Sales are also open to eligible elderly applicants who can buy two-room flexi flats on a short lease.
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