The first Build-to-Order (BTO) project in the upcoming Mount Pleasant housing estate in central Singapore is set to be launched in October. The project will consist of about 1,500 two- to four-room units, along with public rental flats, in residential blocks exceeding 40 storeys.
According to Minister for National Development Desmond Lee, residents in Mount Pleasant can look forward to amenities such as an eating house, supermarket, and proximity to the Mount Pleasant MRT station, which will be part of the Thomson-East Coast Line. The area is strategically located near Toa Payoh town and MacRitchie Reservoir, offering future residents easy access to amenities and nature.
One of the significant aspects of this project is the incorporation of heritage elements from the Old Police Academy and pre-war black-and-white bungalows into the design of the new estate. Mr. Lee mentioned that these flats will be categorized as either Plus or Prime flats under the new framework, designed to ensure affordability while maintaining restrictions to prevent a “lottery effect”.
Mr. Lee Sze Teck from Huttons highlighted that the location of these new flats, less than 1km from Toa Payoh town, may lead to higher prices. Therefore, additional subsidies may be required to keep the flats in Mount Pleasant affordable. Concerning pricing, four-room flats are expected to start from S$525,000, with top-floor units potentially exceeding S$700,000, offering unobstructed views of the city.
On a broader scale, the Mount Pleasant BTO project is part of HDB’s plan to launch 19,600 new flats this year. The government is aiming to provide a balance in housing supply by adjusting the BTO quotas for different groups of applicants. Additionally, larger grants are set to be introduced under the Fresh Start Housing Scheme, offering more support to second-timer families in public rental flats.
In conclusion, the launch of the Mount Pleasant BTO project in October represents an opportunity for residents to own affordable Prime flats in a well-connected and strategically located housing estate.
