BTO 2020 August Launch

[Thaiyotakamli]

41 minutes ago, Adrianli said:

Now that everyone knows that HDB is a depreciating asset, prices will still soar so high meh? Once get key, its countdown to 99 years liao.

Don’t worry 6.9m coming, to fill up hdb and increase demand lol

[Thaiyotakamli]

28 minutes ago, 13177 said:

Thats why need to buy brand new bto as a first owner, then when flat reach MOP at 5 year mark, must faster sell then can profit a lot. Lol.

Then move where?🙄😜

[13177]

18 minutes ago, Thaiyotakamli said:

Then move where?🙄😜

Upgrade to private. Or move back to parents house. 

[Myxilplix]

Any idea when the next Sale of Balance Flats release will be? Looking to get a 2-room Flexi for my in-laws by next year as the release of the flat we are renting for them is ending.

[Dafansu]

46 minutes ago, Myxilplix said:

Any idea when the next Sale of Balance Flats release will be? Looking to get a 2-room Flexi for my in-laws by next year as the release of the flat we are renting for them is ending.

Can refer to this, think now they call it open booking meaning first come first served.

https://www20.hdb.gov.sg/bp13/bp13005p.nsf/OBFMar2020?Openpage

https://esales.hdb.gov.sg/bp25/launch/open/OPEN_page_7142/home.html

[Juicyjuice]

51 minutes ago, Myxilplix said:

Any idea when the next Sale of Balance Flats release will be? Looking to get a 2-room Flexi for my in-laws by next year as the release of the flat we are renting for them is ending.

Sept 2 10am is HDB opening the details of flat

[Angcheek]

Just read ... take 7yrs to build .. waaaa 😆

[Spring]

1 hour ago, Adrianli said:

Now that everyone knows that HDB is a depreciating asset, prices will still soar so high meh? Once get key, its countdown to 99 years liao.

Factually, u r not wrong to say that it’s a depreciating asset which will hv 0 value after 99yrs.
 

However, what choice does the avg Singaporean have? HDB BTO is the entry level for us. We hv to own a home to stay n so BTO is the starting point for us no matter how high it is. 
So in short, there will always be demand for BTO. 

[Juicyjuice]

Did y’all see the ratio already?! Crazy for mature estate.

[Juicyjuice]

33 minutes ago, Angcheek said:

Just read ... take 7yrs to build .. waaaa 😆

Got 7 years meh? I see is 2025 leh

[Adrianli]

50 minutes ago, Spring said:

Factually, u r not wrong to say that it’s a depreciating asset which will hv 0 value after 99yrs.
 

However, what choice does the avg Singaporean have? HDB BTO is the entry level for us. We hv to own a home to stay n so BTO is the starting point for us no matter how high it is. 
So in short, there will always be demand for BTO. 

No doubt that there is demand but after MOP, will the price of the BTO soar? And soar to $1 million? This is where my doubt is. Prices going up $100 - 200k for sure. But will it be crazy to soar to $1 million? 

[Thaiyotakamli]

1 minute ago, Adrianli said:

No doubt that there is demand but after MOP, will the price of the BTO soar? And soar to $1 million? This is where my doubt is. Prices going up $100 - 200k for sure. But will it be crazy to soar to $1 million? 

If population hit 6.9m or even 10m

 

10-20 yrs ago who would have thought clementi hdb to hit $1m?

Edited August 12, 2020 by Thaiyotakamli

[Angcheek]

2 hours ago, Juicyjuice said:

Got 7 years meh? I see is 2025 leh

I think some of them are 7 yrs ... some people commented in FB on this news

[13177]

3 hours ago, Angcheek said:

Just read ... take 7yrs to build .. waaaa 😆

Bto takes 7 years to build? Like that will it affect lesser people buy bto? I dont think i would want to wait for 7 years for a bto?!

[Angcheek]

2 minutes ago, 13177 said:

Bto takes 7 years to build? Like that will it affect lesser people buy bto? I dont think i would want to wait for 7 years for a bto?!

Thats what other were saying too on fb. Maybe hdb expected less FT in construction or slower pace 

[Spring]

2 hours ago, Adrianli said:

No doubt that there is demand but after MOP, will the price of the BTO soar? And soar to $1 million? This is where my doubt is. Prices going up $100 - 200k for sure. But will it be crazy to soar to $1 million? 

HDB shld nvr be bought with profit in mind although I know many buyers hv this mentality. It’s original intention was to be a roof over our heads n to give us a stake in our country’s soil. Unfortunately n for this govt has to be blamed, the game changed n HDB became a money making machine with the drive to asset enhancement. I don’t want to go into the details n argument on this but I hope that we can go back to basics for public housing with its original intention but I fear that it’s difficult to turn round after going this far. 

[noobcarbuyer]

https://www.straitstimes.com/singapore/housing/some-projects-in-bto-sales-exercise-may-take-longer-than-normal-to-complete-hdb-to

Longer wait for flat buyers as some projects in latest BTO sales exercise may take up to 5 years to complete

 A number of projects in the mega build-to-order (BTO) sales exercise on Wednesday (Aug 12) may take up to five years to complete due to safety measures introduced at construction sites to curb Covid-19.

The Housing Board said home buyers keen on the 1,785-unit UrbanVille @ Woodlands project, a five-minute walk from Woodlands MRT station, will have to wait the longest, at around 62 months.

The project is slated to be completed in the second quarter of 2026.

The 1,070-unit Costa Grove in Pasir Ris will take between 56 and 58 months, with an estimated completion date in the fourth quarter of 2025.

The 472 BTO flats in Bishan and 1,044 flats in Parc Residences @ Tengah have an estimated waiting time of between 52 and 54 months, to be ready around the second or third quarter of 2025.

On Wednesday, National Development Minister Desmond Lee acknowledged in a Facebook post that some of the projects have a "longer than normal" completion timeline, which may be of concern to buyers.

He said: "While projects may take longer than normal to complete, I have asked HDB to see how we can reduce the length of the delays where possible."

He added that apart from meeting housing needs, the safety of construction workers is also important.

"To reduce the risk of a resurgence of Covid-19 at construction sites, we have calibrated the restart of construction activities, and required that building contractors adhere to safe management measures," said Mr Lee.

He urged those with urgent housing needs to consider buying a flat in the resale market, noting that first-time buyers may receive up to $160,000 in housing grants.

In a statement, HDB said: "Flat buyers are advised to take the estimated project completion timelines into consideration before deciding to submit an application."

A total of 7,862 flats in 11 housing projects spread across eight towns are being offered for sale, making it the biggest sales exercise by the HDB this year.

Some 3,000 flats in Toa Payoh and Sembawang were offered in February and a further 5,700 flats in Bishan, Sembawang, Tampines, Tengah and Toa Payoh will be launched in November.

Technical support executive Muhammad Nazirul, 29, was planning to apply for UrbanVille @ Woodlands but the long wait has him and his fiancee relooking their options.

He said: "After we get married either next year or in early 2022, we may have to rent a home for a few years while we wait for a home.

"The rent we pay could be saved for renovation costs for the new flat, so we'll need to discuss further if we want to apply for a unit at UrbanVille @ Woodlands."

Edited August 12, 2020 by noobcarbuyer

[Adrianli]

5 years is really long, looks like its back to yesteryears where we also had to wait 5 years for our HDB flat. And now MOP is also 5 years. Total 10 years wait to sell the HDB, I think this will scare off any HDB flippers.