HDB Launches 2 New BTO Projects In Punggol

Date issued : 20 Apr 2010

HDB has launched two new BTO projects in Punggol Town – Punggol Emerald and Punggol Waves – offering a total of 1,429 flats. The supply comprises 188 units of Studio Apartments (SA), 201 units of 3-room, 609 units of 4-room and 431 units of 5-room flats. 95% of the public supply of 3-, 4- and 5-room flats will be set aside for First-Timers. Flat details for Punggol Emerald and Punggol Waves are in Annex A (PDF 41KB).

Punggol Emerald and Punggol Waves

Punggol Emerald, located (JPG 477KB) at the junction of Punggol Way and Punggol Central, will have 856 standard flats, comprising 188 units of Studio Apartments, 96 units of 3-room, 350 units of 4-room and 222 units of 5-room flats for sale. A mini-mart and a shop have been planned in this development.

Located (JPG 477KB) south of the future Punggol Town Centre and along Punggol Walk is Punggol Waves - a standard contract with 573 units, comprising 105 units of 3-room, 259 units of 4-room and 209 units of 5-room flats. A Student Care Centre will be provided in this development.

Both projects will be served by the Punggol MRT, bus interchange, and the future Punggol Town Centre. There are also primary and secondary schools in the area. The Tampines Expressway (TPE), a short drive away, offers good connectivity to the rest of Singapore.

In line with HDB’s plans to develop Punggol as an Eco-Town, Punggol Emerald and Punggol Waves will be designed for Green Mark Certification incorporating eco-friendly features to achieve energy efficiency, environmental protection, indoor environmental quality and other green features such as use of precast construction methods to reduce wastage, reduction of air and sound pollutants during installation as well as secondary roof system to reduce heat.

PRICING OF NEW FLATS AT PUNGGOL EMERALD AND PUNGGOL WAVES

To keep public housing affordable for first-time homebuyers, new HDB flats are priced below their equivalent market prices. The market prices take into account the prices of resale flats in the area, adjusted for factors such as location, flat attributes, project design and prevailing market conditions, as determined by professional valuers.

The selling prices for the flats (applicable to SC/SC households only) range from:
Punggol Emerald (JPG 450KB)

$73,000 to $102,000 for a Studio Apartment;
$166,000 to $200,000 for a 3-room flat;
$262,000 to $323,000 for a 4-room flat; and
$333,000 to $403,000 for a 5-room flat

Punggol Waves (JPG 319KB)

$150,000 to $186,000 for a 3-room flat;
$243,000 to $301,000 for a 4-room flat; and
$330,000 to $385,000 for a 5-room flat

The pricing details and resale comparables for Punggol Emerald and Punggol Waves are in Annexes A and B.

Eligible first-timers with a monthly household income of $5,000 or less can apply for the Additional CPF Housing Grant (AHG) of up to $40,000, which can be used to offset the initial down-payment.

First-time flat buyers are estimated to use 24% to 25% of their monthly household income to meet their monthly loan payments for flats in Punggol Emerald and Punggol Waves (details are in Annex B (PDF 41KB)). This is well within international affordability benchmarks of 30%. A 4-room unit priced at $285,000 requires a monthly instalment of about $1,027. A family with a household income of $4,200 can service this mainly from their CPF contributions and a small cash outlay of $61.

REINFORCING THE PRIVILEGES OF CITIZENSHIP

As announced in Mar 2010, to reinforce the privileges of citizenship and encourage SPRs to take up citizenship, first-timer households comprising a Singapore Citizen (SC) and a Singapore Permanent Resident (SPR), i.e. SC/SPR households, will have $10,000 of their housing subsidy withheld when they purchase a new HDB flat or a resale flat with the CPF Housing Grant. For new flats, they will have to pay a $10,000 premium on top of HDB’s selling price, with effect from the March 2010 BTO exercise. This withheld subsidy will be restored when the SPR family member takes up citizenship or if the couple has an SC child while still in ownership of that flat. Eligible households can apply to HDB within 6 months of the change in household citizenship status to claim the $10,000 Citizen Top-Up via CPF.

UPCOMING SALES LAUNCHES

HDB will ensure an adequate supply of new flats to meet housing demand. From May to September 2010, HDB will launch another 7,400 BTO flats, bringing the total number of flats launched in the first three quarters of 2010 to about 12,000. The upcoming projects will have a good geographical spread, covering areas such as Bukit Panjang, Jurong West, Sengkang, Yishun and Woodlands. The BTO supply will be supplemented by flats under the Design, Build and Sell Scheme (DBSS), with the tender for a site in Yishun with estimated yield of about 700 units to close on 18 May 2010.

Households with monthly incomes $10,000 and under can look forward to more EC units for sale by private developers as HDB has recently awarded tenders for two EC housing sites in Sengkang and Yishun with a combined yield of about 900 units. Another Executive Condominium (EC) housing site at Sengkang East Avenue/Buangkok Drive with a potential yield of 465 units is currently being tendered, while an EC site in Punggol with a potential yield of 615 units will be put up for public tender in early May 2010.

With today’s launch at Punggol Emerald and Punggol Waves, HDB would have offered for sale to the public a total of 5,082 new flats under the BTO in the first four months of this year. For May 2010, flat buyers can look forward to the launch of 1,100 BTO flats in Yishun and Jurong West. More details will be provided at their launch.

APPLICATION PROCEDURE

Applications for the new flats can be submitted online from 20 Apr 2010 (Tuesday) to 3 May 2010 (Mon). More details of the application procedures and BTO Exhibition can be found in Annex C (PDF 41KB).


ENQUIRIES

For enquiries, the public can:

- E-mail hdbsales@hdb.gov.sg;
- Call the Sales/Resale Customer Service Line at 1800-866 3066 on weekdays from 8 am to 5 pm; or
- Visit the HDB Sales Office to speak with our Customer Service Officers during office hours (Mon to Fri 8 am to 5 pm, Saturday 8 am to 1 pm).