The Housing Development Board (HDB) has unveiled its February 2025 Build-to-Order (BTO) exercise, offering 5,032 new flats across five projects in Kallang/Whampoa, Queenstown, Woodlands, and Yishun. This launch is complemented by the largest Sale of Balance Flats (SBF) exercise to date, featuring 5,590 units. Notably, 40% of the SBF units are already completed, whilst 80% of the BTO flats have waiting times of four years or less.
PropNex CEO Ismail Gafoor anticipates strong interest in the SBF units, especially among applicants seeking quicker occupancy. The BTO application rate is expected to be around three times, slightly lower than the 4.2 times seen in October 2024, due to the significant SBF supply. The February BTO exercise includes 38.5% Prime/Plus flats and 61.5% Standard flats.
Key projects such as Stirling Horizon in Queenstown and Tanjong Rhu Parc Front in Kallang/Whampoa are expected to attract high demand. Stirling Horizon, with 1,126 units, is situated in a well-established area with ample amenities, whilst Tanjong Rhu Parc Front offers potential panoramic views and proximity to the Kallang Alive master plan. Both projects are predicted to see application rates between 2.5 to 3.5 times.
In Yishun, the Chencharu Vines and Chencharu Green projects, offering a total of 1,531 flats, are expected to garner an application rate of about three times, despite potential noise concerns from the nearby Sembawang Air Base. Meanwhilst, Woodlands North Verge, the largest project with 1,563 units, is anticipated to have an application rate of 1.5 to 2 times.
The next BTO exercise is scheduled for July 2025, with approximately 5,400 flats across eight projects in various towns, including Bukit Merah and Clementi.
