Huttons' comments on HDB Feb 2021 BTO launch
HDB launches 3,740 flats in its Feb 2021 BTO exercise. This is the largest February launch since 2017 where around 4,000 flats were launched for sale.
This also marks the pilot Community Care Apartments catered specially for seniors to age within the community. It is also a departure from previous BTO exercises where 2-room flexi apartments are housed together with other flat types to foster an inclusive environment. The structure of the packages is akin to a club membership with members paying more for premium services. The indicative prices of the optional package are similar to market offerings. It should be quite popular among seniors who are active and prefer to age in place.
The mature estates of Toa Payoh and Kallang/Whampoa are likely to be more popular.
The completion period of between three and four years for the BTO flats in Toa Payoh is reasonable. We expect them to attract many applicants including those who were worried about the longer construction periods in earlier launches. The subscription rate could range from 4 to 10.
While the city fringe location of the flats in Kallang/Whampoa is attractive, it has a very long completion period of five years. That may shift prospective applicants to the resale market. Subscription rate could range from 3 to 8.