HDB's latest BTO projects nearly three times oversubscribed
The 3,185 Built-to-Order (BTO) flats offered for sale last week have received a total of 9,359 applications as of Sunday, which translates to an oversubscription rate of nearly three times.
Despite the higher prices, the premium flats offered for sale have received more applications than the standard flats.
There were 2,472 applications received for the 440 four-room premium flats in Waterway Terraces II, compared to 493 applications for the 366 four-room standard flats in Montreal Ville.
The bigger premium flats were more popular than the smaller units, with 1,697 applications for the 246 five-room units in Waterway Terraces II, compared to 328 applications for the 118 three-room units in the same project.
Overall, around 4,497 applications were received for the 804 units in the Waterway Terraces II project.
The Housing and Development Board (HDB) said overwhelming demand for Waterway Terraces II was expected because of its good location and award-winning design.
Applicants will be notified of their results by the middle of this month. This is due to HDB's enhanced process announced in March, whereby it will reduce the time taken to invite applicants to choose their flats.
Meanwhile, aside from the 3,185 flats launched for sale last month, potential home buyers can look forward to more than 6,000 new BTO flats released for sale in May and June this year. HDB said the new flats will be located in Bukit Panjang, Pasir Ris, Punggol, Sengkang, Tampines and Woodlands.
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