HDB launches nearly 9,000 flats in May

The Housing and Development Board (HDB) started 8,940 new flats for sale on Tuesday (24 May) under its May 2016 sales activity.

Are balance units the remaining 5,170 flats consisting of unsold flats from preceding BTO launchings.

The flat types range between typical 3- to 5-room units, as well as 2-room Flexi and 3 Gen flats. Costs start from $74,000 for a 2-room Flexi flat at the EastCreek @ Canberra project, excluding grants.

In a statement, the HDB said eligible first-time buyers can enjoy up to $80,000 in housing grants, containing the Added CPF Housing Grant. Special CPF Housing Grant.

“With 25 percent of May’s BTO launching being in matured estates (Ang Mo Kio and Bedok), it is going to go a very long way in meeting demand. As land is limited there will remain powerful demand in mature estates. As such, we anticipate about a few applications per unit there,” said Mohamed Ismail, CEO of PropNex Realty.

Applicants are advised to apply for a BTO level in non-mature towns to appreciate a higher likelihood of success in securing a flat, said the HDB.

They are able to submit their applications online to 30 on the HDB InfoWEB from today May 2016.

This brings the total amount of flats launched for sale in the first half of the year to 13,110 units., and is the second sales launch for 2016

The next sales launching will take place in August 2016 the HDB will offer around 4,810 BTO flats in Hougang, Sembawang, Tampines and Yishun.

Cuscaden Road Bungalow Sold for $145m

Hong Kong-based a firm founded by casino mogul Stanley Ho, Shun Tak Holdings, has bought bungalow.

The descendants of leader philanthropist Tan Tock Seng, who’d anticipated higher offers of between $160 million and $170 million put up for sale the property. Promoted by JLL, the public bid closed on 12 May.

The location is within walking distance to shopping malls and the Orchard Road MRT station. The coming Orchard Boulevard MRT station along the Thomson-East Coast Line can be nearby.

“Chances to obtain property for resort development in and around are few and far between. Depending on our records, this can be the first deal of a redevelopment site for resorts to happen in this location in over 10 years said International Manager at JLL, Karamjit Singh.

He noted the bid for the site received strong interest from foreign and local firms.

Check out the new upcoming launch Parc Riviera

Pansy Ho, Ho’s daughter and Shun Tak’s Managing Director, said: “Capitalising upon our strength in property development, we shall use our expertise in serving the requirements originating in the burgeoning China and Asian marketplaces and hospitality.”

Possibly, the site also can be redeveloped into a residential development, subject to acceptance by the Urban Redevelopment Authority.

The group will announce additional details, and is currently at a preliminary phase of preparation.