Recreational lifestyle at the doorstep of new BTO flats

NewsOctober 26, 2010

HDB released today 1,322 new Build-To-Order (BTO) flats in two projects: Senja Parc View and Anchorvale Horizon.

However, Anchorvale Horizon, which offers 745 units comprising 240 studio apartments, 357 4-room flats and 148 5-room flats, is expected to be more popular with subscribers.

“The immediate area around Anchorvale Horizon is more developed than the immediate area around Senja Parc View,” observes PropNex Corporate Communications Manager Adam Tan. He refers to the various sports facilities that will appeal to the younger generation and the connectivity offered by the nearby expressway and LRT stations.

“For those looking to start a family in the next few years, there are also the parks close by as well as the primary schools,” Mr Tan adds, noting that the nearby Compass Point would also be a selling point.

He expects Anchorvale Horizon’s 4-room and 5-room flats, which are between 15% and 20$ lower than median resale prices for similar flats in the area based on HDB’s 3Q10 results, to be about four to five times over-subscribed. However, he points out that the 240 studio apartments, apparently tailored for the elderly, may pull that number down as that is a high percentage of flats that are catered for singles or couples.

Over at Senja Parc View, Mr Tan expects the main driving force to be the low cost of the flats, primarily of the 112 4-room flats.

“Based on HDB’s 3Q10 median resale prices for 4-room flats in Bukit Panjang, the median price of a 4-room BTO flat at Senja Parc View is a good 40% lower,” he remarks, although he expects the over-subscription rate to be lower than Anchorvale Horizon’s simply due to the fact that there are fewer amenities in the surrounding environs.

While the total number of new flats offered by HDB in 2010 now stands at 15,527, Mr Tan still expects the take-up rate to be reasonably robust.

“Median COV levels for the flats that are being offered are still in the $25,000 to $35,000 range,” explains Mr Tan, referring to HDB’s 3Q10 results. “This will still pose a hindrance to younger first-timers who may not have that kind of disposable cash at hand to spend in the resale market.”

END

For enquiries, please contact:

Adam Tan (Corporate Communications Manager) 9006 8726

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