HDB BTO: Boon Lay Grove and Floral Spring @ YiShun

HDB is launching two new BTO projects- Boon Lay Grove in Jurong West and Floral Spring in Yishun.

A total of 1,050 flats will be offered, comprising 96 units of Studio Apartments (SA), 564 units of 4-room and 390 units of 5-room flats. 95% of the public supply of 4- and 5-room flats will be set aside for First-Timers.

With today’s launch at Boon Lay Grove and Floral Spring @ Yishun, HDB would have offered for sale to the public a total of 6,132 new BTO flats in the first five months of this year.

BOON LAY GROVE

BoonLayGrove

Boon Lay Grove will have 450 standard flats, comprising 300 units of 4-room and 150 units of 5-room flats. Located along Jurong West Avenue 2, it is well served by a wide spectrum of facilities at the established Boon Lay estate, such as the Boon Lay Shopping Centre, Boon Lay Community Centre, neighbourhood park and schools. The Pan-Island Expressway is also a short 5 minutes drive away.

The selling prices for the flats range from:

  • $239,000 to $287,000 for a 4-room flat; and
  • $298,000 to $358,000 for a 5-room flat

FLORAL SPRING @ YISHUN

FloralSpring

Floral Spring @ Yishun will have 600 standard flats, comprising 96 units of Studio Apartments, 264 units of 4-room and 240 units of 5-room flats. This development, located along Yishun Avenue 11, is well served by nearby facilities such as an HDB neighbourhood centre, a neighbourhood park and schools.

The selling prices for the flats range from:

  • $64,000 to $84,000 for a Studio Apartment;
  • $219,000 to $262,000 for a 4-room flat; and
  • $289,000 to $332,000 for a 5-room flat

In addition to the subsidised selling price, eligible first-timers with a monthly household income of $5,000 or less 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.

First-time flat buyers are estimated to use 20% to 23% of their monthly household income to meet their monthly loan payments for flats in Boon Lay Grove and Floral Spring @ Yishun (details are in Annex B  (PDF 42KB)). This is well below international affordability benchmarks of 30% – 35%. A 4-room unit priced at $240,000 in Floral Spring @ Yishun requires a monthly mortgage instalment of about $865. A family with a household income of $4,200 will be able to service this mortgage instalment using their CPF contributions without requiring any cash outlay.

With effect from Mar 2010, first-timer households comprising a Singapore Citizen (SC) and a Singapore Permanent Resident (SPR), i.e. SC/SPR households, will be required to pay a premium of $10,000 on top of HDB’s selling price.

This withheld subsidy will be restored when the SPR family member takes up citizenship or if the couple has an SC child while still in ownership of that flat. Eligible households can apply to HDB within 6 months of the change in household citizenship status to claim the $10,000 Citizen Top-Up via CPF.

HDB 

Comments

  1. Jessica says

    Erm, are the apartments opened to all? Those who are only able to purchase in open market are able to purchase too?

  2. Alamak says

    Why so many 4 rm and 5 rm bto? For god sake…build more 3 rm please if not those lower income families how ah? Use your pig brain la!

    • says

      But according to HDB, (1) You must be a Singapore Citizen (2) Your family nucleus must comprise at least another Singapore Citizen or Singapore Permanent Resident.

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