BTOs going ahead despite poor response

The Housing and Development Board’s (HDB) plan to develop seven Build-To-Order (BTO) projects is on track, despite muted response from home buyers.

Of the seven projects released in September 2011, three attracted relatively low subscription rates, the HDB said.

These include Golden Peony in Jurong West, and Anchorvale Harvest and Fernvale Rivergrove in Sengkang.

Anchorvale Harvest and Fernvale Rivergrove had a subscription rate of 1.3, while Golden Peony’s subscription rate was only 0.6.

“Based on past experience, these projects are not likely to achieve a 70 percent take-up rate at the selection-exercise stage,” said the HDB.

“This will enable the applicants for the three projects to get their flats early and at the same time as applicants for other BTO projects launched in this exercise.”

All seven BTO projects are set for completion between 2014 and 2015.

In addition, the HDB noted it will release another 4,200 BTO flats in November and 25,000 BTO flats next year.

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