Four Build-to-Order (BTO) projects offering a total of 2,601 flats have been launched in the July 2025 BTO sales exercise. This marks the highest number of Prime flats being offered in a single BTO exercise since the new classification was introduced in October 2024.
The four Prime projects are located in Bukit Merah, Clementi, and Toa Payoh. The Bukit Merah projects are the 498-unit Alexandra Peaks and the 609-unit Alexandra Vista, while the Clementi project is the 753-unit Clementi Emerald and the Toa Payoh project is the 741-unit Toa Payoh Ascent. Along with these Prime projects, HDB is also offering 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 will be open from July 23 to July 30.
Real estate expert Eugene Lim, key executive officer at ERA Singapore, notes that the total number of SBF flats offered this year has increased to 10,252, with 5,590 flats launched in February and 4,662 in July. “This is the highest supply since 2021 and reflects a strong and concerted effort to increase public housing supply in Singapore,” he says. Property agency PropNex estimates that the application rate for BTO flats in this exercise will be around 3 to 3.5 times, slightly higher than the application rate of 2.6 times for the February 2025 BTO exercise.
The three Prime projects in Bukit Merah, Clementi, and Toa Payoh offer varying flat types and sizes, with indicative prices (excluding grants) starting from $214,000 for a two-room flexi, $388,000 for a three-room, and up to $777,000 for four-room flats. Two-room flexi flats will be priced from $205,000 at Alexandra Vista while three-room flats will cost upwards of $403,000 at Alexandra Peaks. For four-room flats, prices will start from $560,000 at Alexandra Peaks, $547,000 at Alexandra Vista, $562,000 at Clementi Emerald, and $777,000 at Toa Payoh Ascent.
Two other BTO projects in this sales exercise are the 775-unit Sembawang Beacon and the 380-unit Simei Symphony, while the 1,148-unit Woodlands North Grove marks the third HDB project in Woodlands. The new flats will be located at the junction of Senoko Road and Simpang Road, just across from the upcoming North-South Corridor.
HDB has also increased the subsidy rates for Prime flats in this exercise. For the Alexandra Peaks, Alexandra Vista, and Toa Payoh Ascent projects, the additional subsidies will be increased to 11%, while for Clementi Emerald it will be 12%. This is almost double the 6% subsidy clawback rate when Prime flats were first introduced in 2022.
According to Lee Sze Teck, senior director of data analytics at Huttons Asia, this is the highest subsidy clawback rate to date. He also points out that despite being further from the city center, Clementi Emerald has a higher clawback rate compared to the other Prime projects. However, this is unlikely to deter potential buyers as these projects are located in desirable areas. Kelvin Fong, CEO of PropNex, notes 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 rate ranged from 6% to 9%.
It is crucial to evaluate the potential rental yield when considering a Singapore Condo investment. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, this yield can vary significantly depending on factors such as location, property condition, and market demand. For instance, areas near business districts or educational institutions usually have a high rental demand, resulting in better rental yields. It is advisable to conduct extensive market research and seek guidance from real estate agents to gain valuable insights into the rental potential of a particular Singapore Condo.
There have also been changes to the deferred income assessment (DIA) scheme for young couples in this sales exercise. 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. This may result in more couples opting 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 in October will see 9,100 flats launched across eight towns, including highly anticipated projects in the Greater Southern Waterfront and Mount Pleasant. The launch will be closely watched as these projects mark significant developments in these areas.