HDB Jun 2024 BTO exercise

19 June 2024

This is the last BTO exercise where flats are under the old classification. It is unclear how flats will be classified as Plus or Prime for the Oct 2024 BTO. Hence there could be an increase in the number of applicants especially for those BTOs near to a MRT station which are highly desirable.

The increase in clawback subsidy to 9% is not new. It has been increased to 8% for Dec 2023 and Feb 2024 PLH flats. The increase is necessary as the subsidies are higher. This will probably allow HDB to differentiate between Plus and Prime flats in Oct 2024 BTO exercise. It is unlikely to affect application rate.

There are 4 mega BTO launches in Jun 2024 – Jurong East, Kallang/Whampoa, Woodlands and Yishun.

Tanjong Rhu Riverfront I/II in Kallang/Whampoa could be the most exciting PLH launch since River Peaks I/II in Nov 2021. Situated along Geylang River in the predominantly private residential enclave in Tanjong Rhu, it has been 60 years since HDB flats were built. At 29 storeys, this will be one of the highest residential development in Tanjong Rhu. Residents on the high floor will have unblocked views of the fireworks, city or sea. Strong demand could be expected for the 2,063 flats for application. The application rate for first-timer families could be in the range of 1 to 2 while there may be more than 20 second-timer families who are looking for a prime area to stay for the long term.

Teban Breeze in Jurong East is next to Pandan Reservoir MRT station on the Jurong Region line and is two mrt stops away from Jurong Lake District. The last launch was Teban View along Teban Gardens Road in 2015. With the age of many of the flats in Teban at more than 40 years, there may be pent up demand for flats. The application rate for 4-room flats for first-timer families could be in the range of 2 to 3.

Marsiling Peak I/II in Woodlands is the largest BTO launch since Woodgrove Ascent in May 2021. Marsiling Peak I has the shortest completion time of less than 3 years and will appeal to those who want a flat fast. The Marsiling Community Club will be relocated opposite this BTO. BTOs in Woodlands have often seen good interest. The application rate for 4-room flats for first-timer families could be in the range of 1.5 to 2.5.

Chencharu Hills is the first project in the Chencharu new housing area. It is near vast stretches of greenery and is a short walk to Khatib MRT station. It is probably more than ten years since the last BTO project in Khatib. There will be a new integrated mixed-use development with a bus interchange and hawker centre opposite Chencharu Hills. The amenities will provide convenience to residents staying in Chencharu. There are a few primary schools within 1km of Chencharu Hills. The application rate for 4-room flats for first-timer families could be in the range of 1 to 2.

Holland Vista will be the last plot of land for development in the popular Holland Village enclave. The Holland Village MRT station is a short walk away. The last BTO was Buona Vista Court which is just opposite Holland Vista. Buona Vista Court is popular with buyers and some flats have already exceeded a million dollars. The application rate for 4-room flats for first-timer families could be in the range of 1 to 2.

Tampines GreenTopaz in Tampines is opposite Tampines West MRT station. It is just one MRT stop away from Tampines Regional Centre and Bedok Reservoir. Next to Tampines GreenTopaz is a mixed-use site for private residential homes. Buyers of the BTO will enjoy more amenities in the future. Furthermore there are four primary schools within 1km including the popular St Hilda’s Primary School. The application rate for 4-room flats for first-timer families could be in the range of 1 to 3.