Canberra Vista, the Build-To-Order (BTO) project in Sembawang saw over 10 applicants competing for each of the 266 units of five-room and three-generation flats.
Bigger flats proved to be most popular among home buyers at this year’s first sales exercise which concluded on 17 February.
Canberra Vista, the Build-To-Order (BTO) project in Sembawang, for instance, saw over 10 applicants competing for each of the 266 units of five-room and three-generation flats as at 5pm yesterday, reported The Straits Times.
Also popular were the 285 four-room units, attracting over six applicants each. The 124 three-room flats, on the other hand, had around three applicants each.
Over in Toa Payoh, competition has also been stiff, with the 1,211 four-room flats offered receiving over 10,000 applications. This works out to around eight applicants for every available flat.
The four-room flat is the largest flat type offered in the two BTO projects – Toa Payoh Ridge and Kim Keat Ripples – in Toa Payoh.
Located between Braddell and Caldecott MRT stations, Toa Payoh Ridge also has 102 three-room flats which drew four applicants each.
OrangeTee & Tie’s Head of Research and Consultancy Christine Sun had expected Toa Payoh to post a high application rate.
And while the high level of interest registered for bigger flats within the non-mature estate of Sembawang was “unusual”, it was not entirely surprising, she said.
“It’s not often we get a new BTO project that is right next to an established MRT line and with upcoming amenities like shopping malls next to it.”
Another factor leading to such interest is pricing.
“Prices are also more affordable compared with the other two Toa Payoh projects, which are priced higher,” added Sun.
A four-room unit within the two Toa Payoh projects are priced between $395,000 and $666,000, while a five-room unit in Sembawang is offered from $350,000 to $406,000.
HDB launched 3,095 BTO units for sale on 11 February and is set to launch another 3,700 BTO flats in Tengah, Pasir Ris, Choa Chu Kang and Tampines in May.
It will release an additional 4,100 BTO flats in Woodlands, Bishan, Ang Mo Kio, Geylang and Tampines in August.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email firstname.lastname@example.org