HDB launches over 5000 flats under Feb 2024 BTO and SBF exercises

Over 80% of BTO flats launching will have a waiting time of under 3.5 years.

The Housing and Development Board (HDB) launched 5,714 flats under its February 2024 Build-To-Order (BTO) and Sale of Balance Flats (SBF) exercises. 

Of the total, HDB will offer 4,126 BTO flats across seven new BTO projects in different estates. 

Five out of the seven BTO projects, or over 80% of the BTO flats launched, will have a waiting time of under 3.5 years.

The seven BTO projects offered in the Feb 2024 exercise are in Bedok, Choa Chu Kang, Hougang, Punggol, Queenstown, and Woodlands. 

HDB will offer flats ranging from 2-room to 5-room “to meet diverse housing needs and budgets.”

“All new flats are priced with significant market discounts to ensure affordability, and hence selling prices are considerably lower than the transacted prices of comparable resale flats,” HDB said.

The remaining 1,588 flats launched for sale were SBF units which are located across various towns and estates.

The February exercise marks the first of three BTO launches in 2024. In total, HDB will launch 19,600 new flats this year.

To give home buyers ample time to decide, HDB has extended the seven-day application window to eight. 

Meanwhile, HDB also announced that eligible first-timer families can benefit from the Enhanced CPF Housing Grant (EHG) of up to $80,000. 

“With the EHG, flat buyers may buy a 3-room flat at $127,000 or a 4-room flat at $240,000 in the non-mature estate of Choa Chu Kang, and service their monthly mortgage payments using their CPF monthly contributions, with no cash payments,” HDB said.

“In the mature estate of Bedok, the prices after grants start from $406,000 for a 4-room flat,” HDB added.