HDB BTO flats draw more applicants
By Romesh Navaratnarajah:The latest Build-to-Order (BTO) flats launched by the Housing and Development Board (HDB) recorded an application rate of 2.2 first-timer applicants for each new unit offered, up from 1.8 in November 2012.
Analysts attributed the rise to the government's new Parenthood Priority Scheme, which gives priority allocation of new flats to first-timer married couples with children below 16 years old. Under the package, 30 percent of BTO flats are set aside for such families.
Altogether, 3,346 flats were offered in the mature towns of Ang Mo Kio, Tampines and Kallang-Whampoa as well as the non-mature estates of Choa Chu Kang, Hougang and Yishun.
The Ang Mo Kio project had the most number of applicants with 8.1 first-timer applicants and 91.2 second-timer applicants for each of the 103 five-room flats offered.
"We can put it down to two reasons. One is because it is in a mature estate and the location is good. The other reason is that the number of flats (offered) is also low, only 283 (in total)," said Lee Sze Teck, Senior Manager for Research and Consultancy at DWG.
Meanwhile, the project in Tampines saw 4.9 first-timers and 45.8 second-timers applying for each of the four-room flats on offer. Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@allproperty.com.sg Related Stories: 1150 families to benefit from marriage & parenthood scheme
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