Four Prime Build-to-Order (BTO) projects totalling 2,601 flats have been launched as part of the July 2025 BTO sales exercise. This is the highest proportion of Prime flats offered in a single BTO exercise since the new classification was introduced in October 2024.
Two Prime projects are in Bukit Merah, namely the 498-unit Alexandra Peaks and the 609-unit Alexandra Vista, as well as the 753-unit Clementi Emerald in Clementi and the 741-unit Toa Payoh Ascent in Toa Payoh.
In total, HDB is offering 10,209 BTO flats in this sales exercise, which comprises 5,547 new BTO flats across eight projects and 4,662 Sale of Balance (SBF) flats across the country. Applications for this BTO sales exercise open on July 23 and close on July 30.
Eugene Lim, key executive officer at ERA Singapore, observes that the total number of SBF flats offered this year has risen to 10,252 — comprising 5,590 flats in February and 4,662 this month. “It is the highest supply since 2021 and reflects a strong and concerted push to ramp up public housing supply in Singapore,” he says.
PropNex estimates that the BTO application rate could be around 3 to 3.5 times, slightly higher than the application rate of 2.6 times for the February 2025 BTO exercise.
Prime flats in Bukit Merah, Clementi, Toa Payoh
Bounded by Alexandra Road and Prince Charles Crescent, Alexandra Peaks comprises two blocks of 38- and 46-stories with a mix of 76 three-room flats and 422 four-room flats. HDB says that, excluding grants, three-room flats may be priced from $403,000 while four-room flats may be priced from $560,000.
Meanwhile, Alexandra Vista is bounded by Tanglin Road and Jervois Lane. The project comprises a trio of 32-storey blocks, and its unit mix includes 248 two-room flexi, 93 three-room flats and 268 four-room flats. Indicative prices (excluding grants) start from $205,000 for the two-room flexi, $420,000 for the three-room and $547,000 for the four-room flats.
An artist impression of Alexandra Vista. (Picture: HDB)
Clementi Emerald is one of two projects in this sales exercise with a wait time of less than three years. The other project is the 643-unit Bangkit Breeze, a Standard project in Bukit Panjang. Clementi Emerald consists of four blocks with a mix of two-room flexi (from $214,000), three-room flats ($388,000) and four-room flats ($562,000).
Sitting at the junction of Toa Payoh Rise and Braddell Rise, Toa Payoh Ascent features twin 40-story towers with a mix of 195 two-room flexi, 78 three-room flats and 468 four-room flats. Indicative prices excluding grants start from $212,000 to $777,000.
“Toa Payoh is also a heavily subscribed town when it comes to BTO launches,” says Lim of ERA Singapore. The last project in this neighbourhood, Kim Keat Heights in May 2022, recorded a high subscription rate of 9.7. He expects Toa Payoh Ascent to see similar interest and be a hotly contested project this time around.
The other BTO projects in this month’s sales exercise include the 775-unit Sembawang Beacon, the 380-unit Simei Symphony and the 1,148-unit Woodlands North Grove.
Increase in subsidy clawback
For this sales exercise, HDB says the additional subsidies for Prime flats will be increased to 11% for Alexandra Peaks, Alexandra Vista and Toa Payoh Crescent, while the additional subsidy for Clementi Emerald is 12%. These rates are nearly double compared to the 6% subsidy clawback when Prime flats were first introduced in 2022.
The subsidy clawback in this exercise is the highest to date, says Lee Sze Teck, senior director of data analytics at Huttons Asia. He adds that Clementi Emerald has a higher clawback subsidy than the other three Prime BTO projects despite being the furthest from the city centre.
An artist impression of Clementi Emerald. (Picture: HDB)
Moreover, four-room flats in Clementi Emerald are priced higher compared to the four-room flats in Alexandra Peak and Alexandra Vista. Lee notes that the clawback subsidy for a different tranche of flats at Alexandra Peak that were launched in December 2023 was 8%, but the latest flats in that estate are now hit with an 11% subsidy clawback.
However, the higher subsidy clawback rate is unlikely to deter flat applicants as these projects are in attractive locations, says Kelvin Fong, CEO of PropNex. He points out that prior to the July 2025 BTO exercise, the subsidy recovery rate for Prime flats under the new classification framework was 9% and under the prime location public housing (PLH) model, the subsidy recovery rate ranged from 6% to 9%.
This month’s BTO sales exercise also sees changes to the deferred income assessment (DIA) scheme for young couples. Under the new rule, couples can choose to delay their income assessment for a housing loan until just before key collection, shifting the assessment focus from immediate to future income.
Christine Sun, chief researcher and strategist at Realion Group, says: “We expect more couples to opt for larger or pricier flats, as they are more likely to qualify for a higher loan amount, given that many would have been working for some time by then”.
HDB’s next BTO sales exercise is set for October, with 9,100 flats to be launched across eight towns: Ang Mo Kio, Bedok, Bishan, Bukit Merah, Jurong East, Sengkang, Toa Payoh and Yishun. The exercise will be closely watched as it includes two highly anticipated projects: the first-ever BTO flats in the Greater Southern Waterfront and the debut development in Mount Pleasant.
This version of article written by Timothy Tay and first appeared at EdgeProp Singapore.
Picture: HDB