Monday, November 15, 2010

BTO flats six times oversubscribed

Demand for HDB’s Built-To-Order (BTO) flats in Bukit Panjang and Sengkang remains strong, with 1,322 units in the two new developments oversubscribed by about six times, drawing a total of 7,994 applications.

The most popular units were the larger flats, with 1,838 buyers applying for 148 five-room flats at Anchorvale Horizon in Sengkang or 12 times overbooked.

The four-room flats in both developments were about five times oversubscribed, while the two-room units at Senja Parc View in Bukit Panjang were the least favourite, with 89 applications received for the 112 flats released for sale.

This shows that buyers prefer larger units than smaller ones, and premium flats over the standard ones to get more value for money, said Colin Tan, head of research and consultancy at Chesterton Suntec International.

The high level of overbookings in the recent offering is nearly on par with previous BTO developments in Punggol, which had been launched in April. Two recent projects in Woodlands and Yishun were also oversubscribed by 2.2 and 2.4 times, respectively

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