HDB BTO for February 2021

Harmoy Village @ Bukit Batok

Under the Build-To-Order (BTO) exercise, HDB opened 3,740 homes for sale in February, 2021. The apartments for this sales exercise are scattered around 7 developments in Kallang Whampoa and Toa Payoh (Bidadari) mature estates as well as in Bukit Batok and Tengah non-mature neighbourhoods.

In Bukit Batok, two of the latest BTO projects are named Peace Village @ Bukit Batok and West Hill @ Bukit Batok.

In the 15-story residential structure, Harmony Village will consists of 169 Group Care Apartments (CCAs). These apartments are only accessible to the aged 65 and over and are sold on limited contracts between 15 and 35 and subsequently on installments of five years. The pre-installed wall and floor finishes, appliances and older style characteristics are given for each CCA.

The Group Care Pilot Apartments at Harmony Village @ Bukit Batok provide a variety of pilot accommodations for seniors over and over 65.

HDB says people must sign up to a basic support plan that includes 24-hour emergency response and committed neighborhood services in this region. The development would also have a community director on site who will better coordinate the treatment and assistance of the elderly.

According to the CEO of PropNex Realty, Ismail Gafoor, policy makers would be exhibiting broader approval of such a modern form of flat. “We believe that the CCAs should be popular with older people who want to live separately and can still interact with friends in the same block and enjoy treatment,” he continues.

Christina Sun, senior analysis & analytical vice president at Orange Tee & Tie, says, though, that the general interest for these apartments is limited by other factors. “Everyone doesn’t like to live with an elderly community because some people may rather have a good mix of young families and couples,” she says.

She states that these apartments cannot be offered in the free market and can be restored to the HDB unless the residents continue to remain in them. “Some elderly people can also be very conservative and prefer to give their descendants land. The aged, with little to no wages, may even access any of the optional programs,” says Sun.

The 767 units Parc Woods @ Tengah and the 626 Unit McNair Heights, bounded by Balestier Road and McNair Road, are additional developments at BTO in the recent sales exercise. In Toa Payoh, the Bartley GreenRise 387, the ParkEdge @ Bidadari 476 and the Alkaff Breton 353 are the latest inventions.

McNair Heights consists of three residential blocks of approximately 24 and 40, and one of those blocks can hold some of the leased apartments.

Nicholas Mak, Head of Research & Consulting at ERA Realty, said that the three new companies at Toa Payoh, Bidadari, are expected to be among first-time home buyers. He adds: ‘In these three BTO ventures, the prices of the HDB flats are very near and represent each project locations.’

Many major ventures in three or four years can be finished. Notes that the building pace for BTO ventures seems to have gone up with the building downturn that was witnessed during the Covid-19 Pandemic last year in Singapore. “It might pull some home buyers back to the BTO area for the first time. Among these 3,740 apartments, first time buyers will apply for 2,975 apartments during this BTO exercise,” said Mak.

Most BTO ventures would already be over-subscribed for this exercise, says Sun. According to the rates of occupancy at three BTO releases in 2020, which took place in February, August and November, some 13,000 new flats were reported or bigger compared to over 80,000 applicants.

“There are therefore many couples that have not succeeded, especially those who cannot afford resale flat and who may still apply for future BTO launches,” she added.