HDB Launches BTO Project In Sengkang

Source : The Business Times, June 3, 2009

THE Housing & Development Board yesterday launched a 700-unit project at Sengkang for sale under its build-to-order (BTO) system.

Fernvale Crest, at the junction of Jalan Kayu and Sengkang West Way, comprises 140 two-room flats, 372 three-room flats and 188 four-room units.

In line with the government's commitment to increase the supply of smaller flats during the economic downturn, 75 per cent of the Fernvale Crest flats are two-room and three-room units.

'This is the largest number and proportion of smaller flats ever offered for sale in a BTO project,' HDB said.

The flats are also priced below market prices so first-time buyers can afford them, it said.

Prices range from $74,000 to $98,000 for a two-room flat, $116,000 to $157,000 for a three-room flat and $203,000 to $250,000 for a four-room flat. In comparison, a four-room resale flat at Sengkang goes for $290,000 to $360,000, according to data provided by HDB.

Analysts reckon the launch will be well received.

'We expect Fernvale Crest to be hugely popular based on the new flat types and low prices,' said Adam Tan, a spokesman for property firm PropNex. 'The four-room flats on offer are 35-45 per cent cheaper than others in the vicinity.'

Mr Tan expects Fernvale Crest to be at least five times subscribed.