Punggol, Clementi flats sees robust interest from buyers

Flats in Punggol and Clementi attracted the most interest at this year’s first Build-To-Order sales exercise, reported Today Online.

Data from the Housing and Development Board (HDB) showed that five-room flats at Punggol Northshore Cove had a subscription rate of 5.6, or 958 applications for the 170 units offered, while Punggol Waterway Sunrise II’s three-room flats had a subscription rate of 4.2, or 402 applications for 95 units.

Punggol’s 713 two-room Flexi flats received 2,894 applications or a subscription rate of 4.1.

Buyers at Clementi favoured the 3Gen and five-room flats at the Clementi Peaks and Clementi NorthArc projects, with a subscription rate of 4, or 2,501 applications for the 619 units available.

Response from second-timer applicants was especially overwhelming, with 31.1 applications for every unit offered to the group.

Overall, 11,001 applications were received for the 3,343 three-room and larger flats launched in Tampines, Clementi and Punggol. This works out to a subscription rate of 3.3.

Demand from second-timers surpassed that of first-timers, with 12.2 applicants for every unit available, up from the 2.4 for first-timers.

Spanning six projects, the 4,056 flats launched last week are the first of the 17,000 flats set for launch this 2017.

The exercise also marks the first time families under the Fresh Start Housing Scheme can apply for a flat. The scheme is intended to help second-timer families with young children living in public rental flats own a flat again.

Christopher Chitty, Senior Content Specialist, edited this story.