4,500 new flats launching in May BTO exercise, locations include Bukit Merah, Queenstown & Toa Payoh

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The National Board of Housing and Development (HDB) will launch approximately 4,500 apartments in the upcoming Built-to-Order exercise in May 2022, said National Development Minister Desmond Lee in a Facebook post on Monday (May 23).

These 4,500 apartments will be located in five cities – Bukit Merah, Jurong West, Queenstown, Toa Payoh and Yishun.

Because many of these new apartments are located in mature properties, young families who want to live close to their parents have more options this time around, Lee said.

Lee expects that the application rate for projects in mature properties will “remain high”.

Therefore, he urged apartment buyers to consider applying for BTI apartments located in immature properties, such as Jurong West or Yishun, to maximize their chances of securing an apartment as the application fees for projects in these properties are “generally lower” compared to most mature goods.

Location of these new apartments

Here is more information about the new apartments that will be launched in the May exercise:

One of the Bukit Merah projects was moved to August

Lee also updated in his post that one of the two Bukit Merah projects originally planned for launch in May 2022 will be moved to August 2022 instead.

He explained that “more time is needed to review the project and to better spread the location projects in mature and immature properties at each launch.”

Despite this change, Lee said that HDB is still about to launch up to 23,000 new apartments this year, in line with previous forecasts.

Lee also said that there will also be a simultaneous Sale of Balance Flats exercise during the launch in May, which will “offer apartments across different cities and estates across the island”.

“These apartments are already under construction, some have even been completed. So buyers can look forward to getting their apartments sooner,” he added.

2 BTO projects will be launched under the PLH model in May

According to Straits TimesThe two BTO projects in the BTO exercise in May 2022 that will be launched under the PLH model will be in Bukit Merah and Queenstown.

The Bukit Merah project will have approximately 1,660 three- and four-room apartments available. The project is bounded by Henderson, Tiong Bahru and Lower Delta Roads. The site will be served by Redhill and Tiong Bahru MRT Stations.

The Queenstown project will consist of approximately 860 three- and four-room apartments. The site is located along Ghim Moh Road and is next to Buona Vista MRT Station.

Apartments sold under the PLH model will have a occupancy period of at least 10 years and will have restrictions on the resale and rental of the apartment.

Two PLH projects have been launched since the model was introduced in 2021.

“It has been a good response to the two PLH projects that have been launched so far,” said Lee.

He said that the selection exercise for the first PLH project, River Peaks I and II, is underway.

He noted that 80 percent of buyers who have been invited to choose an apartment have gone ahead and booked an apartment, which is higher than the average of 60 percent for most BTI projects.

“Given the strong response, HDB will launch two PLH projects during the BTO exercise in May 2022. We will continue to assess the project’s location attributes and market values, and continue to offer PLH projects in future sales exercises, if available and appropriate websites. “

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