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In The News Press Release
by OrangeTee & Tie Pte Ltd.

OrangeTee's comments - Feb 2025 BTO sales exercise

BTO Launches

Overview

The government is intensifying its efforts to improve the accessibility and availability of public housing. This includes releasing more flats with shorter waiting times and offering many completed Sale of Balance Flats (SBF). Furthermore, there are several large projects available this time, which increases the chances of securing a unit. All these measures will help Singaporeans obtain a home more quickly.

This BTO launch provides a variety of flats with short waiting times as well as completed SBF units. Some individuals may choose BTO flats with shorter waiting periods or SBF flats, even if they are located further from the city center. This is primarily because the affordability of BTO flats compared to resale options remains a significant deciding factor. As a result, some demand may shift away from the resale market. This decrease in demand could potentially slow the rate of price growth in the long run, depending on how many flats with shorter waiting times are released in the coming years.


Project analysis

1. Tanjong Rhu Parc Front (Prime): 

The project is located near the city centre, close to the CBD and Marina Bay. It will offer 812 flats, comprising of 2-room flexi, 3-room and 4-room units. Units that face the Geylang River may enjoy views of the river and the Marina Reservoir. Moreover, the project is conveniently situated near several MRT stations, including Tanjong Rhu, Katong Park, Stadium, and Mountbatten, providing excellent connectivity for residents. The last launch within the Tanjong Rhu vicinity occurred in June 2024, when 2,063 prime flats were offered in the Tanjong Rhu Riverfront I and II developments. The number of applicants was high, and those who were unsuccessful in securing a BTO flat then are likely to apply again for this project.



2. Stirling Horizon (Plus Flats):

This BTO project is one of the largest public housing projects launched in Queenstown in recent years. It will offer 1,126 flats, comprising of 2-room flexi, 3-room and 4-room units. The project, bounded by Mei Chin Road and Queensway, is located within one of the oldest and most developed HDB enclaves in Singapore. Situated at the city fringe, it offers a wide array of amenities, including the Queenstown New Hawker Centre, Mei Ling Market & Food Centre, Ikea, Anchorpoint, Alexandra Central, and Queensway Shopping Centre. Additionally, it is conveniently near the Queenstown MRT station and various schools, such as Queenstown Primary School, New Town Primary School, and Queensway Secondary School. The project is particularly appealing to families. Singles may be attracted to this project, too, as there are many two-room flexi units offered for sale. 

The last Queenstown BTO launch in June 2024, Holland Vista, amassed an impressive overall application rate of 9.8 for 4-room flats. Therefore, we expect this project to have a high application rate too. 



3. Woodlands North Verge (Standard Flats):

This is the largest project in this launch, featuring 1,563 flats with a wide variety of unit types, ranging from 2-room flexi to 5-room units. It marks the first launch of the new Woodlands North Coast estate, which, when fully developed, will yield approximately 4,000 BTO flats. Located near the sea and surrounded by several parks, such as Admiralty Park and Woodlands Waterfront Park, this project offers the potential for both sea and green views. It provides a tranquil living environment that nature lovers may appreciate. 

The site is conveniently situated near Woodlands North MRT station and is about a 10- to 15-minute car ride from Woodlands Checkpoint, making it an ideal choice for residents who frequently travel to Johor Bahru or have family there. Additionally, the upcoming Johor Bahru-Singapore Rapid Transit System (RTS) Link is expected to greatly improve cross-border commuting, which may increase buyer interest. Families with children studying in Singapore will find it convenient to travel back to Malaysia on weekends via the RTS.

With a large number of flats available, applicants may have a higher chance of success when balloting for this project.


4. Chencharu Green and 5.Chencharu Vines (Standard Flats):

The Chencharu parcel consists of the second and third BTO flats to be launched in the Chencharu area, following the launch of Chencharu Hills in June 2024. This offers applicants a first-mover advantage, allowing them to move into a relatively new town before other occupants. Consequently, their BTO flats will be built first, reach the Minimum Occupation Period (MOP) sooner, and may be sold or rented out earlier than other flats in the area. Chencharu Vines will offer 848 flats ranging from 2-room flexi to 5-room units while Chencharu Green will provide 683 flats consisting of 2-room flexi, 4-room and 5-room units.

When comparing the two BTO projects, Chencharu Green is likely to be more popular than Chencharu Vines, as it is located closer to Khatib MRT station. Both developments share similar locational attributes, but Chencharu Green’s proximity to public transport could make it more appealing. 

Further, both projects have shorter waiting times, which is attractive to buyers who need housing urgently. They also offer larger flat options, such as 5-room units, which are desirable for families with young children. Although Chencharu Vines is further from the MRT station, it benefits from having more units available, potentially increasing applicants' chances of securing their preferred unit.



Upcoming sites for July

Many sites in good locations will be offered for sale. These are our assessment of the sites. 

Bukit Merah (2 sites) - Likely to be Prime flats given its proximity to MRT station and amenities. The site being near the city centre, and close to many amenities will be popular among applicants. 

Bukit Panjang - probably standard flat as the site is not near a major MRT station with limited amenities, although it is beside an LRT station. Those who like greenery or tranquility may like this site. 

Clementi - Maybe Plus Flats given its close proximity to MRT station and amenities. It sis also near the Clementi primary and secondary schools, which will appeal to families with school good children. 

Sembawang - Likely to be Standard Flats given that it is not near MRT station and limited amenities. This site may not be as popular as the other sites unless the construction period is very short. 

Tampines - Maybe Standard Flats as the location is quite far from city centre, although it is in close proximity to MRT station. Residents may appreciate the excellent amenities available in Tampines, especially those working near Changi Business Park. As a result, this project is likely to become one of the more popular projects in the BTO exercise. 

Toa Payoh - Maybe Plus or Prime Flats, given its close proximity to Caldecott MRT station. It is also located near Toa Payoh central with many amenities and in proximity to many good schools like RGS, RI, and Marymount Convent School.  As a result, this project is likely to become one of the more popular projects in the BTO exercise. 

Woodlands - Maybe Standard Flats as the location is quite far from city centre, although it is in close proximityy to MRT station. Residents will also enjoy greenery. Given the large number of 5-room flats, it may appeal to bigger families. 


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