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Thread: Not all estates can take BTO projects

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    Default Not all estates can take BTO projects

    http://www.businesstimes.com.sg/sub/...44740,00.html?

    Published June 2, 2011

    Not all estates can take BTO projects

    Most mature towns have limited land for public housing, minister says in blog

    By EMILYN YAP


    (SINGAPORE) Not every mature estate will be able to accommodate build-to-order (BTO) projects, said National Development Minister Khaw Boon Wan on his blog yesterday.

    Tanjong Pagar is 'fully built-up', but others such as Tampines and Kallang/ Whampoa could have room for new flats, he said.

    Mr Khaw was following up on a post that he made on Monday, where he said that the Housing and Development Board (HDB) could launch more new flats in mature estates next year to help young couples live near their parents.

    That piece of news has been well-received, he said in yesterday's blog entry. But he also highlighted that not many mature estates will see the introduction of BTO projects - 'certainly not in the short term' - because most are substantially built-up and there is limited land for public housing.

    Mr Khaw pointed to a report in The Straits Times in which a young couple living in Tanjong Pagar said that they were looking forward to a BTO launch in that area.

    'Tanjong Pagar is fully built up and a BTO there is unlikely. I hope the young couple would seriously consider other options, especially those in the non-mature estates,' he said.

    'HDB is still studying the details, but preliminarily, they told me that a couple of mature estates such as Kallang/Whampoa and Tampines could benefit from BTO launches next year.'

    Flats in mature estates such as Tampines tend to be more popular because of well-developed transport networks and facilities in these towns.

    But newer estates such as Sengkang and Punggol have gotten a larger share of BTO projects. The most recent BTO launch for a mature estate took place last week, when HDB rolled out two projects in Tampines. In December 2009, two BTO projects were introduced in Queenstown.

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    http://www.straitstimes.com/PrimeNew...ry_675111.html

    Jun 2, 2011

    New HDB flats likely in Kallang/Whampoa, Tampines
    ...but not in 'built-up' Tanjong Pagar


    Not every mature estate has room for more flats, says Khaw

    By Jessica Cheam, Housing Correspondent


    Mature towns like Kallang (above) and Tampines could see BTO launches next year, in an effort to meet demand from couples who want to live near their parents. -- ST FILE PHOTOS

    NATIONAL Development Minister Khaw Boon Wan yesterday gave a clearer indication of which mature towns could see more new flats offered to young home-buyers.

    These are unlikely to include established, densely populated estates like Tanjong Pagar as they 'are already substantially built up', he said in his latest blog post, the fourth since he took over the ministry recently.

    But other towns such as Kallang/Whampoa and Tampines could see new projects launched by the Housing Board next year, he said.

    He noted that his comments on Monday about asking HDB to consider building more Build-to-Order (BTO) flats in mature estates had been 'well received, judging by media reports'.

    He also referred to a young couple The Straits Times (ST) had interviewed who said they were looking forward to a BTO in Tanjong Pagar: 'I must add that while I have asked HDB to put up more BTOs in mature estates, it will not be possible for many mature estates to benefit from this development, certainly not in the short term. This is because most of the mature estates are substantially built up, and there is limited land for public housing.'

    BTO projects, HDB's main scheme for new flats, are typically built when a certain demand level is reached.

    Mr Khaw said HDB is still 'studying the details', but based on what it has found so far, a few mature estates like Kallang/Whampoa and Tampines could see BTO launches next year.

    'We will do our best to meet young couples' aspirations to be able to continue to live near their parents. But unfortunately, we will not be able to do so in every mature estate,' he said.

    'Tanjong Pagar is fully built up and a BTO there is unlikely. I hope the young couple would seriously consider other options, especially those in the non-mature estates.'

    Human resources executive Teo Yingying, 25, one half of the couple who was interviewed, said she and her boyfriend would not mind looking farther afield: 'As we don't drive, we are fine with anywhere close to good public transport. But, of course, places nearer my parents would be best.'

    Mr Khaw's latest comments echo the expectations of analysts who said highly developed towns nearer the city centre are unlikely to be able to offer more new flats due to land limitations.

    Industry observers had suggested Bishan, Ang Mo Kio, Toa Payoh, Tampines and Pasir Ris as some towns with room for more flats. Experts had also said it was possible the Government could reallocate land meant for private homes to public housing.

    MND told ST yesterday that while it explores launching more flats in mature towns, 'there is a need to continue to set aside land to offer choices for both first-time homebuyers to own a HDB property, as well as upgraders who wish to purchase a private property within the same town'.

    It added that though there may be sites at some mature towns' fringes, there could be constraints: 'For other land parcels, time is required to put in the supporting infrastructure to make the land suitable for development.'

    PropNex chief executive Mohamed Ismail said Mr Khaw's quick response to public reaction could underscore concern by policymakers that young buyers would abandon newer estates for mature ones. The Government has been encouraging young families to move to outlying areas like Punggol to build critical mass in these new towns.

    'Many people will want to try their luck, but the reality of the matter is that your chances are much slimmer if you queue for a flat in a mature estate. It's important young couples who need flats realise this,' said Mr Ismail.

    Mr Colin Tan, research and consultancy director at Chesterton Suntec International, agreed that mature towns will always be popular: 'But this means the prices must reflect the locations of the flats. Newer estates must be priced attractively so young buyers will still be compelled to buy flats there instead of in mature towns.'

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