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HDB BTO Options

Posted by newlaunch.sg on March 3, 2021
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Owning a private property in Singapore with a private address is still seen as a status symbol of prestige with some even see it as a means to chalk up wealth. But when it comes to owning your first home — whether it is a HDB build-to-order (BTO) flat, resale flat, new condominium or landed property — several factors much be taken into serious consideration such as eligibility and financial resources.

HDB BTO flats are a good choice especially for young couples starting out with little cash savings and this is because HDB could provide a loan of up to 90% loan-to-value ratio with the remaining 10% coming from their Central Provident Fund (CPF) account.  However, the waiting time for a BTO flat completion is 5 years for the couples before they can get the keys to their new home due to construction duration.

For anyone who is successful in their application for a new home prior to Covid-19, the waiting time typically to get the keys to new BTO flats is usually within three years.

As the pandemic continues, the average waiting time for ongoing BTO flats is increased to about four to five years due to difficult construction conditions and for taller buildings, it maybe longer as there is shortage of labour.

For couples who prefer not to wait, the options available are buying a resale HDB flat, executive condominiums (ECs) or private property.

The option of resale flats is an affordable option for young couples who want to have their own place fast, but the cash outlay is higher as compared to HDB loan for a BTO flat as this is due to cash on valuation (COV) component as a result of continual construction delays which drives up the demand in the resale HDB market”.

If budget allows, the new condo coming launches are The Arden and Sceneca Residence.

CDL to develop Piccadilly GrandPiccadilly Grand location in cityfringe

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