AsiaOne reports that HDB is two new BTO projects today for Limbang Green (Choa Chu Kang) and Buangkok Vale (Hougang). The 1,291 units are the first BTO projects for 2010.
The selling prices are so much more affordable as compared to the previous year's pricing. It could mean that the sales for Q4 in 2009 were not as good, that is why the pricing fall.
5 Jan 2010
HDB is launching two new BTO projects today, Limbang Green in Choa Chu Kang and Buangkok Vale in Hougang, offering a total of 1,291 units.
The selling prices for the flats range from $64,000 to $89,000 for a studio apartment, to $226,000 to $278,000 for a four-room flat at Limbang Green. Three-room flats are going for $140,000 to $169,000.
Prices are Buangkok Vale are slightly higher at $231,000 to $288,000 for a four-room flat, $88,000 to $111,000 for a two-room; and $142,000 to $182,000 for a three-room.
592 units are located in Limbang Green, while Buangkok Vale offers 699 standard flats.
The flat supply comprises 276 studio apartments, 128 two-roomed flats, 241 units of three-roomed flats and 646 four-roomed flats. 95 per cent of new flats will be set aside for first-timers.
Located along Choa Chu Kang Drive, it is served by Yew Tee MRT station.
The Kranji Expressway (KJE), Bukit Timah Expressway (BKE) and Pan-Island Expressway (PIE) also provide connectivity to the rest of Singapore.
Nearby commercial facilities include Limbang Shopping Centre and Yew Tee Square. Community facilities such as Yew Tee Community Club, Choa Chu Kang Swimming Complex, Choa Chu Kang Sports Hall and Choa Chu Kang Stadium are also within walking distance.
Situated in Hougang town, Buangkok Vale is bounded by Buangkok Green and Yio Chu Kang Road and served by two MRT stations, Hougang and Buangkok, as well as the Hougang Bus Interchange and the Central Expressway (CTE).
Residents can enjoy commercial facilities at Hougang Mall and Hougang Plaza at the Town Centre and also at neighbourhood centres such as Central Place and Hougang Green Shopping Mall.
Other communal facilities include the Hougang Swimming Complex, Hougang Sports Hall and Hougang Stadium.
First-time flat buyers are expected to use 18 per cent to 25 per cent of their monthly household income to meet their monthly loan payments for flats in Limbang Green and Buangkok Vale. As such, most of the new flat buyers can service their loan payments fully using their monthly CPF contributions (i.e. 23% of income).
For example, a 4-room unit priced at $260,000 in Buangkok Vale requires a monthly installment of about $937. A family with a household income of $4,300 can service this fully from their CPF contributions without any cash outlay.
Upcoming flat supply
Next month, HDB will be launching another 1,500 flats in Punggol and Woodlands.
Flat buyers can look forward to more BTO projects this year with about 12,000 new BTO flats, if there is sustained demand.
In addition, HDB on behalf of the Government will also be inviting tender for the sale of two Executive Condominum housing sites at Buangkok Drive and Yishun Ave 11, on 15 Jan.
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