HDB's first two BTO projects oversubscribed

The first two Build-to-Order (BTO) projects launched by the Housing and Development Board (HDB) for this year received very positive responses.

Just a few hours before closing the applications on Monday, the 1,291 units being offered at Buangkok Vale and Limbang Green in Choa Chu were five times oversubscribed. The four-room flats were the most popular.

The 458 units in Buangkok Vale received more than 2,608 applications – six times more than the available units, while the 188 four-room units in Limbang Green received over 2,700 applications.

Homebuyers who cannot wait are turning to resale flats. Several housing analysts said it is a seller’s market right now and prices of resale flats are likely to remain high.