A variety of flexible residential options have been made available in Singapore through the country's Housing Development Board.

The HDB launched 3,739 flats for sale on Tuesday under its Build-To-Order (BTO) and Re-Offer of Balance Flats (ROF) initiatives. 

It was the first in a series of sales to be held throughout the year, with 15,000 flats to be made available across a variety of locations throughout the next 12 months.

Designed to create more affordable housing within Singapore, BTO flats consist of 2-room Flexi, 3-, 4-, 5-room, and 3Gen units.

Applicants can apply for a flat in their preferred location, with a ballot used to determine tenants.

Of the flats launched this week, there were 3162 BTO units spread across five projects located in the non-mature towns of Jurong West and Sengkang, as well as Kallang Whampoa.

An artist's impression of the Towner Crescent in Kallang Whampoa. Source: Housing Development Board

According to the HDB, the flats are priced with a generous subsidy, taking into account factors such as location, flat attributes, and prevailing market conditions. 

"HDB’s prices are considerably lower than transacted prices of comparable resale flats in the vicinity," a statement on its website read.

"Eligible first-timer families can enjoy up to $80,000 of housing grants, comprising the Additional CPF Housing Grant (AHG) (up to $40,000) and the Special CPF Housing Grant (SHG) (up to $40,000). 

"With these grants, flat buyers could pay as little as $15,000 for a 2-room Flexi flat, $110,000 for a 3-room flat, $197,000 for a 4-room flat, and $333,000 for a 5-room flat."

HDB is also offering 577 unselected flats from the May 2018 Sale of Balance Flats (SBF) as part of its ROF initiative.

ROF sales launches pool together unsold flats from the previous Sale of Balance Flats and ROF exercises.

Similar to other sales launches, more flats will be allocated to first-timers as they have a more pressing need for a home. 

The next BTO launch is scheduled for May, with about 3,400 flats to be sold in Kallang Whampoa, Tengah, and Woodlands. 

Source: Housing Development Board

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