September BTO applications

Got the below link from: http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1156076/1/.html



SINGAPORE - As applications closed yesterday for the Housing and Development Board's (HDB) largest supply of flats in a single sales launch, the numbers indicated that buyers clearly prefer Sale of Balance Flats (SBF) units over those under the Build-To-Order (BTO) scheme.

Last Thursday, the HDB launched a bumper crop of 5,415 BTO flats and 2,847 SBF units. The HDB had "strongly advised" home buyers to apply for a BTO flat for a higher chance of securing a flat. Judging by the response, its advice went unheeded.

As at 5pm yesterday, the BTO flats were only 1.6 times oversubscribed, with 8,835 applications received. In comparison, 17,255 applications were received for 2,847 SBF flats - an average of six applications for each unit.

Previous BTO exercises in July and May were three and 3.5 times oversubscribed, respectively.

Dennis Wee Group director Chris Koh felt the relatively low BTO subscription rate "was not a true reflection of demand" due to the fact that the more popular SBF flats were launched simultaneously.

The SBF flats comprise unselected flats from previous BTO launches, surplus replacement flats under the Selective En Bloc Redevelopment Scheme and units bought back by the HDB.

Mr Koh said: "The Sale of Balance Flats does not happen all the time. It's good to have a variety of choice. Those who can't wait can try their luck at the Sale of Balance Flats."

Still, demand varied across the BTO flats on offer, with Propnex chief executive Mohamed Ismail noting that it "boils down to location". While three-room flats offered in Ang Mo Kio were five times oversubscribed, there were only 201 applications for 185 three-room flats in Jurong East and 591 applications for 572 units in Sengkang.

The five-room flats proved to be most popular: A total of 10,640 applications were received for 1,186 units.

Mr Ismail noted that the BTO five-room flats are more affordable compared to such units offered under the SBF scheme.






Can you imagine that if i went ahead for the SOBF? I will be inside the 17,000 applicants too. I would be inside if Tampines flat offer 4 rooms. Just too bad, left only 3 rooms.





Anyway, just wish us luck... Otherwise, we will just wait till the next BTO in Tampines. :)

Comments

Popular Posts