BTO season is almost upon us and if you’re applying for the upcoming October 2024 BTO launch, there are several updates and new features you should be aware of. In this guide, we’ll break down 6 key points you need to know before you submit your application.
If you’re thinking about applying for a BTO project in the upcoming October 2024 launch, don’t forget to secure your Flat Eligibility (HFE) letter beforehand.
Table of contents
1. Prime, Plus, and Standard flats will be applied to all BTOs hereon
2. Shorter waiting times for some BTO projects
3. Singles can now apply for 2-room Flexi flats across all locations
4. This BTO will include the highly anticipated Bayshore BTO projects
5. White Flats offer a new customisable layout option
6. The recent LTV and EHG changes will apply to the October BTO
1. Prime, Plus, and Standard flats will be applied to all BTOs hereon
The October 2024 BTO marks the first time Prime, Plus, and Standard flats will be offered to buyers, replacing the older classification system of mature and non-mature estates. This means you’ll have more clarity on what you’re applying for, as each category comes with distinct location advantages and eligibility criteria.
- Standard Flats will be the most common, found in various estates, including less central areas. These flats represent the largest proportion of HDB BTO supply and come with a shorter 5-year Minimum Occupation Period (MOP).
- Plus Flats are located in more desirable spots, like town centres or near public transport. They will likely be in high demand due to their prime location, and buyers can enjoy additional subsidies to make them more affordable.
- Prime Flats are set to be the top-tier option, located in city centres or surrounding desirable towns. These flats will come with a higher price point due to their location but will still be kept affordable through subsidies. However, buyers should note that Prime flats will have stricter resale restrictions and a 10-year MOP.
In total, 15 projects will be launched during this exercise, comprising 7 Standard, 7 Plus, and 1 Prime project. This represents the largest number of projects offered in a single BTO sales exercise to date.
The BTO October 2024 exercise will offer around 8,500 flats across various estates, including popular locations like Ang Mo Kio, Bedok, Geylang, Jurong West, Kallang/Whampoa, Pasir Ris, and Woodlands. It’s important to choose wisely based on your needs, as these classifications come with different restrictions and benefits.
Looking for a home but don’t want to be affected by the new HDB classification restrictions? Check out HDB flats that MOP-ed recently here: Full list of BTO projects hitting MOP in 2024/2025 & Our top picks near the MRT
2. Shorter waiting times for some BTO projects
For those concerned about waiting time, the October 2024 BTO launch will include flats with some of the shortest waiting times ever seen. In particular, Bukit Batok and Sengkang will offer 2,085 units with a waiting time of less than 3 years.
- West BrickVille @ Bukit Batok: This development will have 689 units, and the waiting time will be only 2 years. It’s one of the shortest waiting periods ever offered in a BTO project, making it a strong contender for those seeking quicker access to their new home.
- Sengkang Projects: Two other developments in Sengkang, Fernvale Sails and Fernvale Oasis, will also offer shorter waiting times. Fernvale Sails will have 545 units with a waiting time of about 2 years and 3 months, while Fernvale Oasis will provide 851 units with a waiting time of 2 years and 9 months.
These shorter waiting periods were made possible by HDB’s proactive approach to starting construction earlier, sometimes months or even more than a year before the project’s official launch. If waiting time is a priority for you, these projects are definitely worth considering.
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3. Singles can now apply for 2-room Flexi flats across all locations
One exciting development for singles in the October 2024 BTO launch is the expanded eligibility for 2-Room Flexi flats. Previously, singles could only apply for these flats in non-mature estates. However, from October onwards, singles can apply for 2-Room Flexi flats even in mature estates like Bedok and Kallang/Whampoa.
Here’s what you need to know:
- A total of over 1,900 2-room Flexi flats will be available across 10 out of the 15 BTO projects launching in October. These locations include Ang Mo Kio, Bedok, Bukit Batok, and Pasir Ris, among others.
- For the first time, HDB will reserve up to 65% of 2-room Flexi flats (that are not designated for seniors) for singles, particularly those who are first-time applicants. Of course, this is subject to the prevailing income ceiling of S$7,000 per month.
- Singles eligible for the Enhanced CPF Housing Grant (EHG) can receive up to S$60,000 to offset the cost of purchasing a new flat. Additionally, if you’re planning to buy a resale flat, you may be able to access further financial assistance through the EHG, CPF Housing Grant (up to S$40,000), and the Proximity Housing Grant (up to S$15,000).
This change opens up new opportunities for singles who previously had fewer options, especially in the more popular, mature estates.
Interested in upcoming new launches for the year? Take a look at your options here: Upcoming new launches: New Launch condos in H2 2024
4. This BTO will include the highly anticipated Bayshore BTO projects
The October 2024 BTO launch will also feature one of the most eagerly awaited estates – the Bayshore BTO projects, named Bayshore Vista and Bayshore Palms. Since they were announced in June 2023, these projects have generated significant interest due to their prime location and attractive features.
Bayshore BTO projects will be located near East Coast Park and are part of Bedok town’s extension. The estate will benefit from easy access to the new Thomson-East Coast Line (TEL), with Bayshore MRT station now open and Bedok South MRT station scheduled to open in 2026.
Looking for a property close to an MRT station of your choice? Check out 99.co’s MRT map here.
The first two Bayshore BTO projects will offer 1,440 units, which will include 2-room Flexi, 3-room, and 4-room flats. These units will have features like full-height windows, giving you beautiful views of the greenery surrounding the area and East Coast Park. Given their location, Bayshore flats are expected to be classified under the Plus category, which means a 10-year MOP and stricter resale restrictions will apply.
In addition to the prime location, Bayshore will be close to the trendy neighbourhoods of Joo Chiat and Katong, known for their vibrant food and lifestyle scene. Residents will also have access to green spaces and parks like Bayshore Central Park, as well as infrastructure designed for cycling and walking. If you’re after a home near East Coast Park, this project will likely be on your radar.
5. White Flats offer a new customisable layout option
One of the more innovative introductions in the October 2024 BTO launch is the option for White Flats. These flats, which will be offered as part of a trial project, provide a highly customisable layout that may appeal to homeowners who want to design their living space according to their preferences.
White Flats are essentially a “white canvas” – the living and bedroom areas are not separated by internal walls. This gives you the flexibility to partition the space as you see fit, using furniture or installing walls later on as your needs evolve. This layout is targeted primarily at younger homeowners looking for flexibility in their home design.
A total of 310 3-room and 4-room units will be offered with the White Flat layout. The omission of internal walls means you could save on renovation and hacking costs. However, potential buyers should be aware that the structural beams and columns are positioned at the edges of the unit, which will prevent beams from obstructing the open space.
While White Flats offer creative freedom, they could face challenges when it comes to resale, as future buyers may prefer a traditional layout. But if you’re after a home that allows for maximum flexibility, the White Flat option could be perfect for you.
6. The recent LTV and EHG changes will apply to the October BTO
If you’re planning to finance your flat with an HDB loan, it’s important to note the recent changes to the Loan-to-Value (LTV) ratio and Enhanced Housing Grant (EHG). These changes, effective from August 2024, will apply to the October 2024 BTO.
- The LTV ratio for HDB loans has been reduced from 80% to 75%. While this means you’ll need to come up with a slightly larger down payment, it shouldn’t affect higher-income households, given that the income ceiling for HDB loans remains at S$14,000 for families and S$7,000 for singles.
- The Enhanced Housing Grant (EHG) has been increased, allowing first-time family applicants to receive up to S$120,000 in subsidies, and singles can receive up to S$60,000.
These updates are particularly important for those planning their finances for a BTO application. The combination of a slightly reduced LTV ratio and increased EHG will impact the affordability and funding options available to buyers in this round of HDB BTO flats.
Need help in selling your HDB? Book a free consultation with our 99 advisors today!
Already set your sights on a BTO project? Share your choice in the comments section below or on our Facebook page.
About Sophiyanah David
Sophi, a seasoned copywriter specialising in Singaporean real estate and property, is one of the minds behind 99.co's informative articles. Like her colleagues at 99.co, Sophi is dedicated to keeping you informed about the ever-changing world of real estate so you can find your forever home. When off the clock, you can find her giggling and kicking her feet as she reads her romance novels, watching anime - if FMBA is not your fave, she might fight you (but you'll probably win) and looking up latest skincare trends.
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