Punggol BTO Project Launched

Source : The Business Times, March 27, 2009

THE Housing & Development Board (HDB) yesterday launched a build-to-order (BTO) project at Punggol - the second of the year after one launched at Woodlands in February.

The 519-unit Nautilus @ Punggol, at the junction of Punggol East and Punggol Field, will have 413 four-room flats and 106 five-room flats.

Four-room flats will sell for $228,000-$274,000, while five-room flats will cost $305,000-$357,000. These prices are cheaper than those of similar flats in the market, which makes them affordable for first-time buyers, HDB said. Nautilus units are priced lower than recent BTO launches there mainly because of differences in location and design, it said.

Recent offerings Punggol Arcadia and Punggol Regalia are premium projects with enhanced designs and better internal finishes, while Nautilus is a standard project with more basic features. Nautilus is also further from the town centre and main transport than the other two BTO projects.

Nevertheless, analysts expect solid demand. 'Nautilus is expected to be popular,' said Propnex spokesman Adam Tan. The flats are 'very attractively priced'.

Recent BTO offerings by HDB have seen strong demand. The Woodlands BTO project launched last month was more than four times subscribed.

And two other projects launched late last year - one in Choa Chu Kang and the other in Punggol - also saw good take-ups.

HDB intends to launch about 3,000 flats in Punggol this year as part of plans to remake the estate.