Price of New BTO Flats
In this post on Price of New BTO Flats, we look at the price of 3 new BTO projects that were launched in March 2011 by HDB.
PRICING OF NEW FLATS AT FERNVALE FLORA, FERNVALE GARDEDNS AND SEGAR VALE
New HDB flats are priced with a generous subsidy below their market value. The market value, as determined by professional valuers, takes into account the prices of comparable resale flats in the area, adjusted for factors such as location, flat attributes, design, availability of flats for occupation and prevailing market conditions.
In addition, eligible first-timers buying 2-room and bigger new flats and earning not more than $5,000 per month can also apply for the Additional CPF Housing Grant (AHG) of up to $40,000. The AHG can be used to offset the initial down-payment.
The selling prices for the flats range from:
Fernvale Flora and Fernvale Gardens $88,000 to $120,000 for a 2-room;
$148,000 to $193,000 for a 3-room flat;
$240,000 to $311,000 for a 4-room flat; and
$310,000 to $378,000 for a 5-room flat
Segar Vale $83,000 to $108,000 for a 2-room;
$143,000 to $173,000 for a 3-room flat;
$226,000 to $284,000 for a 4-room flat; and
$298,000 to $354,000 for a 5-room flat
The pricing details and resale comparables for Fernvale Flora, Fernvale Gardens and Segar Vale are in HDB site.
First-time flat buyers are estimated to use 16% to 24% of their monthly household income to meet their monthly loan payments for flats in Fernvale Flora, Fernvale Gardens and Segar Vale. For example, a 4-room unit priced at $255,000 in Segar Vale, requires a monthly mortgage instalment of about $919. A family with a household income of $4,100 will be able to service this mortgage instalment solely using their CPF contributions.
This residential property update is for personal use only.
NEW BTO FLATS
