Build to order (HDB)

For information on the Build-to-Order (BTO) production concept, see Build to Order.
Sengkang Rivervale HDB Apartment

Build To Order (abbrev: BTO; Chinese: 预购组屋制度) is a Housing & Development Board (HDB) flat allocation system that offers flexibility in timing and location for owners buying a New HDB flats in Singapore. Eligible buyers planning to shift into a new HDB apartment in the near future, can apply for apartments in their preferred location from specific sites launched. Tender for construction will be called only if the number of applicants is at least 70% of the number of apartments in a specific contract (50% since 2011), otherwise, the project is not built.

The waiting time for new flat applicants under the old Registration for Flats System (RFS) is relatively short because flats are built ahead of demand. In comparison, the new BTO system requires a waiting period of about 3-4 years instead as such a system removes the need for the government to make projections ahead of demand. For eligible flat buyers in urgent need of accommodation, they can ballot for leftover units that are reintroduced into the market, Sales of Balance flats (SBF).

All BTO projects are designed by Surbana Corporation. To allow private sector a share of the public housing pie, HDB launched the Design, Build and Sell Scheme (DBSS). The first pilot DBSS project at Tampines would be built by private developer, Sim Lian Group, but maintained by the HDB after construction.

BTO Unique Features

BTO Projects

Build To Order system was introduced in 2001, the demand for BTO flats was low in the first years, 5 projects being cancelled because did not met the minimum 70% application ratio, but once the demand recovered, since 2010 HDB launch each year about 20-40 BTO projects comprising 15,000-28,000 units. As end-2015, HDB has launched 251 BTO projects comprising 168453 units. [3]

Awarded BTO main contractors tender, each construction costs per 5-room, 4-room, 3-room & 2-room units are likely to be average about $160,000, $120,000, $80,000 & $40,000 (based on 2004 cost) respectively. This also include the cost of sub-contractors and construction of multi-storey carpark, Lifts, Electrical Substation (ESS), Child-care center, Children Playground, Fitness Corner, Linkway Shelter & Open Space landscape etc.

Notes

External links

This article is issued from Wikipedia - version of the Sunday, November 29, 2015. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.