Overview
HDB launched 5,032 BTO flats across 5 projects in the Feb 2025 BTO exercise. HDB will also launch its largest SBF exercise with more 5,590 flats for application.
Of these 5,032 BTO flats, 1,531 flats in Chencharu Vines and Chencharu Green have a waiting time of around 3 years.
More than 2,500 SBF flats are already completed. Together they add up to more than 4,000 flats for buyers who need flats in a shorter time.
These SWT flats and completed SBF flats are very attractive to buyers and may pull demand away from the resale market. This may address the supply drought in the resale market. In 2025, there are around 6,974 flats that will meet the 5-year MOP. This is the lowest supply of MOP flats in 10 years. With the launch of SWT and SBF flats, it may stabilise prices in the resale market.
61.5% of the BTO flats in Feb 2025 BTO exercise are classified as standard, 22.4% as plus and 16.1% prime flats.
2-room flexi flats supply
There are only 1,411 2-room flexi flats in Feb 2025 BTO exercise, 25.8% lesser than Oct 2024’s supply of 1,902 2-room flexi flats. Some singles may go for the SBF flats, some which are completed or have a shorter waiting time. For the BTO flats, the number of applicants are likely to stay high at around 10,000 and the application rate among singles may stay above 20.
Comments on BTO projects
The Tanjong Rhu Parc Front BTO is in a prime location near the city centre and Singapore Sports Hub. It is opposite Tanjong Rhu Riverfront I/II which was a Prime BTO. It has a shorter completion period than Tanjong Rhu Riverfront I/II which is as long as 55 months. It could draw applicants who were unsuccessful in Tanjong Rhu Riverfront I/II. The application rate for a 4-room could be between 2 and 3.
The Stirling Horizon BTO was previously occupied by Global Indian International School. It is closer to Queenstown MRT station than Queenstown Canopy, a Standard BTO, just across Queensway. The application rate for a 4-room could be between 1 and 2.
The price of a 4-room flat in Stirling Horizon is lower than Tanjong Rhu Parc Front by as little as $6,000. This reflects the additional subsidy for the more central location to the city centre.
The Woodlands BTO may be the first BTO in Woodlands North, an upcoming economic hub. It will be close to Woodlands North MRT station and the RTS link to Johor. Admiralty Park and Woodlands Waterfront Park are next to the BTO. The application rate for a 4-room may be between 2 and 3.
The Chencharu Green and Chencharu Vines BTOs in Yishun are in the new Chencharu estate and have a shorter waiting time of around 3 years. There will be a new integrated mixed-use development with a bus interchange and hawker centre coming up in Chencharu. The two BTOs will be near to Khatib MRT station and a number of primary schools within 1km. The application rate for a 4-room may be between 2 and 3.
