October 2024 BTO Launch: Plus Flats Make Their Debut

Following the launch of the June 2024 Build-To-Order (BTO) exercise, the Housing Development Board (HDB) has concurrently announced details regarding the upcoming BTO exercise that is slated for October 2024.

In this October 2024 sales exercise, 8,500 flats will be offered as Standard, Plus, or Prime flats based on their specific locational attributes.

What’s New in the October 2024 BTO Launch?

While we might already be familiar with the specifications of Standard and Prime flats, this exercise will be the pilot for the ‘Plus’ flats – a new classification involving flats which are located in choicer locations near transport nodes or town centres.

With the exception of Bayshore, HDB has not disclosed which projects will be labelled as Plus. However, based off their locational attributes, we can make an informed guess on which projects will be classified under this category.

List of projects under the October 2024 BTO sales launch

Source: HDB, ERA Research and Market Intelligence

Based off ERA’s projection, Standard flats will comprise 45.9% of overall flat supply, with Plus and Prime flats representing 43.1% and 11% respectively.

Here are highlights from this launch:

• The first BTO flats to be launched in Bayshore, an up-and-coming residential district in Bedok with a waterfront living experience, overlooking East Coast Park. All these projects are expected to be Plus flats
• The project in Ang Mo Kio, which is expected to be categorised as Plus as it is located at the heart of Ang Mo Kio town centre
• The project in Geylang (Mattar) should see fierce competition with only 140 units available for the likely Plus flat close to the city centre

 

List of Projects Under the October 2024 BTO Launch

Ang Mo Kio – 430 units

This project will likely be categorised as Plus, since Ang Mo Kio is a mature estate with lots of amenities. It is located about 10 minutes from Ang Mo Kio MRT. There are malls nearby, such as AMK Hub, Djitsun Mall and AMK Broadway, alongside many other shops and eateries.

This project will be popular among young families due to its location near a selection of good schools. Additionally, being located next to AMK public library and across a park will provide families with activities to do.

Bukit Batok – 690 units

Bordering Tengah Plantation Crescent, the site will be located opposite a future (and currently unnamed) Jurong Regional Line station.

Residents can easily access future amenities in Tengah via Tengah Link, alongside offerings in Bukit Batok West, such as a shopping mall.

These will likely be standard flats and attract those working in the Jurong Lake District (JLD) or Jurong Innovation District (JID).

Bedok (Bayshore Walk) – 730 units

This Plus project will be within 2 minutes walking distance from Bayshore MRT, with south and east facing units on higher floors enjoying a sea view, overlooking East Coast Park

Being a new estate, we can expect to see essential amenities such as supermarkets and eating places to be built in the future. While there is only one school nearby (Temasek Secondary School), other good schools like Victoria School and Tao Nan School can be easily accessed by the Thomson East Coast Line.

This attractive location should draw considerable interest, especially among those that work in areas such as Changi Business Park or Changi Aviation Park.

Bedok (Bayshore Drive) – 710 units

Located slightly further in from the first Bayshore site, this project will share the same Plus classification, amenities and roughly the same walking convenience from the MRT.

While residents might not enjoy the same stunning sea view as the Bayshore Walk project, instead Northern facing units here will overlook the landed enclaves in Siglap and Upper East Coast Road and provide views of the city.

With more 4-room flat options available and a shorter distance to amenities currently in Bedok South, this Bayshore project might draw more interest from larger families.

Bedok (Jalan Kembangan) – 340 units

The last BTO in Bedok will be located directly across Kembangan MRT. It is also known that this project will be a mixed-used development with 5 floors of commercial space. Therefore, we strongly believe this to be a Plus flat.

As there have not been any new public housing projects within the vicinity of Kembangan MRT since the late 80s, we can expect this project to have a strong demand.

In addition to this, there are amenities such as eating places, a supermarket, preschools and parks for residents to enjoy.

Geylang – 420 units

Located a minute from Mattar MRT, this BTO project in Geylang has good convenience via MRT and the PIE. There are existing amenities in the nearby areas, such as market and hawker centres at circuit road, which should make this a Plus flat.

However, with only 160 4-room flats available (the rest are community care apartments), there will be competition for the small quantity of homes. It is also worth noting that there were a pair of 4-room flats nearby at Circuit Road which transacted for over $1m recently, which might drive demand.

Jurong West – 1,840 units

A large project with 1,840 units, this Standard project looks to create more housing supply to rejuvenate the estate and support the working population of the Jurong Lake District and Jurong Innovation District.

While the location is not directly accessible, we can expect there to be future bus services that directly connect residents to essential amenities in Jurong West and the JLD, as well as to a new MRT station on the Jurong Region Line.

Kallang/Whampoa (May Road) – 360 units

This project is located within the Boon Keng estate, about a 10 min walk away from Boon Keng MRT. Residents get to enjoy a quieter location, while still being within arm’s reach of the Boon Keng neighbourhood’s conveniences, which include a market and many eating places.

Given Boon Keng’s city fringe location, this is likely to be a Prime project. This project should still see good demand, albeit still dependent on the subsidy clawback rate.

Pasir Ris – 280 and 480 units

This Pasir Ris project is located directly across the MRT and bus interchange, and is made of two apartment complexes separated by a new small park.

Given its choice location in-between the MRT and Pasir Ris Park, ERA projects this to be a Plus project. This should garner considerable interest, especially among those that grew up in the area due to a wide flat mix and an abundance of amenities and conveniences.

Sengkang (Fernvale Close) – 550 units

As Sengkang is a relatively new town, this project is likely to be a standard flat. It will be located across the road from Layar LRT Station, and is surrounded by many amenties such as a hawker centre, wet market and childcare centre.

Located 3 LRT stops away is Sengkang, which is an integrated transport hub with more amenities and connectivity to Punggol and the city.

Sengkang (Fernvale Road) – 840 units

This project will be a 5-minute walk from Thanggam and Kupang LRT Stations, and offers an array of greenery, which may make it popular among those who enjoy going out into nature. There are some schools in the area which may appeal to young families with school going children.

Similar to the other Sengkang project, ERA expects this to be a Standard flat.

Kallang/Whampoa (Crawford Street) – 310 units

Given the proximity of this location to the city centre, this project is expected to yield strong demand especially from those working in the CBD. Therefore, it is highly likely that this would be a Prime flat.

The site is a short walk from Lavender MRT Station, which is one stop away from Bugis interchange, allowing commuters to take the Downtown line towards the CBD, Bukit Timah, and the eastern parts of Singapore. There are also several shopping centres located nearby.

Kallang/Whampoa (Upper Boon Keng Road) – 270 units

This project is located deeper into Kallang, a 9-minute walk away from Geylang Bahru MRT, which offers this quieter neighbourhood convenience to the city. As it is located close to the city centre, this should be a Prime flat.

The site is near other towns such as Potong Pasir and Boon Keng, where residents can visit for amenities such as food. Children can also access schools in these areas, such as St. Andrews School. As with all the other prime projects, the demand for these flats will vary greatly depending on the subsidy clawback rates.

Woodlands – 290 units

This Woodlands site is a 10-minute walk away from Marsiling MRT and comprises of 4 and 5 room units. The project is nearby Marsiling Primary and Secondary Schools as well as amenities, making these flats an option to consider for families with children.

Furthermore, it is located one MRT stop away from Woodlands integrated transport hub and the future Woodlands Regional Centre. This plus project should gather good interest from those who want to stay in the north.

For more information on the October 2024 BTO Launch, visit HDB’s official site here.

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