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Response overwhelming from second-timer applicants

Response overwhelming from second-timer applicants

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SINGAPORE — The first Build-To-Order (BTO) sales exercise of the year came to a close on Monday, with flats in the Punggol and Clementi projects drawing the most interest.

The five-room flats at Punggol Northshore Cove saw the strongest demand relative to supply, with 958 applications for 170 units, or a subscription rate of 5.6, according to figures on the Housing and Development Board (HDB) website published on Tuesday. Also popular were three-room flats at Punggol Waterway Sunrise II (with an income ceiling of S$6,000), which saw 402 applications for 95 units, or 4.2 applications for each unit available. Upcoming executive condo  launches include Yio Chu Kang EC, Inz Residence EC, Choa Chu Kang EC, Anchorvale Lane EC,  while existing ones include The Terrace EC, Brownstone EC, The Vales EC, Parc Life EC , Sol Acres EC, The Visionaire, Bellewoods EC, Signature at Yishun, The Criterion EC and Northwave EC .

Over at Clementi, the five-room and 3-Gen flats at the Clementi NorthArc and Clementi Peaks projects were the most popular, with 2,501 applications for 619 units, translating to a subscription rate of 4.
Response was especially overwhelming from second-timer applicants, with 31.1 applications for every unit available to this group.

Overall, for the 3,343 three-room and bigger flats launched in Punggol, Clementi and Tampines, there were 11,001 applications, or 3.3 applicants for every unit.

Demand from second-timers outpaced first-time applications, with 12.2 applicants for every unit available to them, compared with 2.4 for first-timers. For the 713 two-room Flexi flats launched in Punggol, there were 2,894 applications, or a subscription rate of 4.1. The flats launched last week, spanning six projects — the first of 17,000 flats to be launched this year to help ease waiting times for home-buyers, especially young couples looking for BTO units.

Those in Clementi were priced more steeply: The 3-Gen flats had indicative prices of S$549,000 to S$709,000, five-room flats were from S$571,000 to S$694,000, and four-room flats were between S$432,000 and S$550,000.

In Punggol, five-room flats went for S$383,000 to S$498,000, while the four-room flats were from S$257,000 to S$365,000.

Three-Gen flats in Tampines were priced between S$409,000 and S$475,000, five-room flats at S$397,000 to S$469,000, and four-room flats at S$299,000 to S$347,000.

The exercise was also open to the families on the Fresh Start Housing Scheme for the first time.

The scheme aims to help second-timer families with young children to own a flat again, and this group could apply for the two-room Flexi flats.

In response to queries, the HDB said at the close of the exercise, four families who are under the scheme have done so.

Among them is Mdm Chia, 51, a divorced mother of three who has lived in a rental flat for some six to seven years. The security officer, who did not want to reveal her full name, was ineligible for HDB grants for first-timers to buy a flat after her divorce. Meanwhile, banks turned down her loan applications as her income was too low.

“I have been paying about S$270 every month for years, but the flat is not mine,” said Mdm Chia in Mandarin. “This (scheme) is a chance to fulfil my wish of having a home of my own again.”

In May, the HDB will be offering 4,600 flats in Bidadari, Geylang, Woodlands and Yishun, while around 3,000 balance flats will be offered in a concurrent Sale of Balance Flats Exercise.

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