Source : Straits Times - 1 Jul 2008
Latest projects bring total build-to-order homes to 4,500 - in bid to meet demand
THE Housing Board launched 1,587 premium homes in Punggol and Sengkang for sale yesterday, the latest in a series of launches intended to meet high demand.
Its new projects - Fernvale Residence in Sengkang and Punggol Breeze - come just a month after 1,500 build-to-order (BTO) homes were released in the two up-and-coming locations.
Yesterday’s sale brings the total number of new homes launched under the BTO programme to 4,524 for the first half of the year.
And more homes are underway with the HDB launching the sale of a plum site on Lorong 1A Toa Payoh by tender under its Design, Build and Sell Scheme last week. This was the sixth since the first site was awarded in January 2006.
The HDB’s aggressive sales programme follows concerns that its stock of flats had dipped to an all-time low just as increasing numbers of newly-weds were turning to new flats after being priced out of the resale market.
But the chief executive of property agency PropNex, Mr Mohamed Ismail, cautioned that demand for the latest projects might fall off somewhat with the release of so many new flats.
The HDB’s latest offering at Punggol Breeze comprises 778 four-room units priced from $223,000 and 186 five-room flats, which will go from $315,000.
At Fernvale Residence, 55 three-room units, 444 four-room flats and 124 five-room homes will be built, with prices ranging from $133,000 to $365,000.
Construction of the premium flats - they have better finishes which make them slightly more costly - will begin only after a certain demand is reached.
Punggol Breeze is bounded by Punggol Drive and Edgefield Plains, and is served by Oasis LRT station, two stops from Punggol MRT station, where the future town centre will be built.
Fernvale Residence is at the junction of Sengkang West and Fernvale Road, a stone’s throw from Fernvale LRT station and Fernvale Point.
The HDB website www.hdb.gov.sg yesterday showed 111 applications for both new projects. Applications close on July 14.
Models of the estates are on display at the HDB Hub Habitat Forum in Toa Payoh until the closing date.
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