Continued strong demand from singles for BTO flats

PropertyGuru

28 July 2014 at 11:15 pm

The Housing Board's latest Build-to-Order (BTO) exercise saw robust demand from singles as well as first and second-time buyers, according to media reports.

The exercise ended last Friday on midnight, and as of 5pm on the same day, 13,169 applicants were vying for the 3,841 units on sale. These include studio apartments at six projects in Yishun, Punggol, Toa Payoh, Woodlands and Sembawang

Overall, there were 1.9 first-time applicants for each flat, while the figure for second-timers is at 3.9. This is about double the application rates seen in the May BTO exercise, which consists of four projects in Bukit Batok and Woodlands. The application rates for singles (17.5) also surpasses the figure for May (16).

According to experts, the latest BTO exercise attracted robust demand because most of the projects are located in estates with good amenities and infrastructure. They were also mostly near an LRT or MRT station, said SLP International's Research Head Nicholas Mak.

Meanwhile, analysts urge the government to set aside more units for singles and second-timers as the backlog of BTO units for the first-times has already been addressed. They also pointed out that the demand from first-time buyers in recent BTO exercises is lower compared to scenario several years ago.

In contrast, demand from singles and second-time buyers in the latest exercise is still high.

For instance, the application rate for second-timers at Park Grove @ Yishun was 4.2 for four-room flats, while 31 singles were competing for each two-room unit on sale.

Similarly, there were 3.5 second-timers for each three-room flat at the Matilda Court (pictured) and Waterway Sunray projects in Punggol, while 21 applicants are vying for each two-unit flat.

Image source: HDB

Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg

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