BTO Flats to launch in Yishun and Bukit Batok

BTO Flats to launch in Yishun and Bukit BatokBy iProperty.com Singapore – January 27th, 2011



Orchard Spring in Yishun is estimated to be completed by the fourth quarter of 2014. (Photo courtesy of HDB)

With homes for Singaporeans still a massive issue for the People’s Action Party (PAP) government, the Housing & Development Board (HDB) has announced that three new Build-To-Order (BTO) developments are to be launched with an estimated delivery possession date of 2015.

HDB also announced that 95 percent of the units, excluding studio apartments, will be reserved for first-time households.

Two of the three are located in the northern suburb of Yishun: Orchard Spring and Vista Spring , while Golden Daisy is to be built in Bukit Batok. Vista Spring and Orchard Spring should both be liveable by August 2015 to and November 2015 respectively, while Golden Daisy is estimated to be ready in March of the same year.

In total there are 1,728 flats due to be completed in around three to four years’ time. The Yishun developments especially should attract huge interest, as Yishun is both considerably closer to the centre than previous BTO developments, and a much more developed area to boot.

What is BTO?

BTO is an HDB flat allocation system that offers buyers purchasing new HDB flats flexibility in timing and location. Eligible buyers can apply for flats in their preferred location from specific sites launched. When there is 65-70% take up, tender for construction will be called. If there is insufficient take up, the project will be shelved.

Most BTO-scheme developments are completed in around four years.


Orchard Spring



Orchard Spring, located along Yishun Avenue 11, caters to families, young couples and other first time buyers with the 948-unit development broken down into 2-, 3- and 4-bedroom units, for which there 192, 252, and 504 respectively. There will also be a childcare centre attached to the facility.


Vista Springs




Nearby Orchard Spring is the other Yishun development: Vista Spring. Vista Spring offers 324 4-bedroom and 276 5-bedroom units, and is obviously aimed more at the ‘families with children’ market. Located at the junction of Yishun Avenue 1 and Yishun Street 41 and close to the Lower Seletar Reservoir, Vista Springs will also provide facilities including a food centre, shops, a mini-supermarket and a residents’ committee centre.


Golden Daisy




A development consisting of 180 studio apartments, Golden Daisy is a BTO developed especially for those aged 55 and above. Given the relative unpopularity of HDB studio apartments it is unlikely to be oversubscribed, although its proximity to the centre of Bukit Batok and its MRT station, may attract interest.


Prices



Prices remain pretty standard for BTO developments, given the size psm and location of all three developments.

For more information, please see this page on the HDB website. Apply online for your choice of development by 7 Feb 2011.

All images courtesy of HDB.