Wednesday, October 03, 2012

Large flats in mature estates most popular in latest BTO exercise

SINGAPORE: Large flats in mature estates have proven to be the most popular among potential home buyers in HDB's latest Build-to-Order exercise.

As at 5pm, 8,776 applications have been received for 3,428 units offered, excluding studio apartments.

Each four-room unit in Tampines Greenlace received about 3.3 applications from first-timers.

Likewise, in Ang Mo Kio's Cheng San Court, each four-room unit had about 3.2 applications.

In Ang Mo Kio's Teck Ghee Parkview, each five-room flat received 3 applications from first timers.

However, demand for smaller three-room flats might be dwindling, a property analyst said.

Each three-room flat in Kallang-Whampoa, a mature estate, received only 0.1 application from first-timers.

Senior Manager of Training, Research and Consultancy at DWG, Lee Sze Teck, said first-timer application rates for three-room or smaller units have remained relatively low throughout the year, even though the demand from second timers for a three-room flat stayed strong.

He said: "The demand for this group of buyers could have been satisfied and HDB could look into fine-tuning their policy to help different groups of buyers instead of just applying a broad brush policy of just allocating more BTO flats to all second-timers.

"HDB could allocate more resources to the room-type that people actually want, rather than building what they actually think the market actually needs."

Mr Lee also said the latest Sale of Balance Flats has shown stronger demand compared to the other exercise in March.

As at 5pm, 13,398 applications have been received for 2,510 units. These include an S2 apartment -- equivalent of a five-room flat -- at Pinnacle@Duxton, which received 203 applications for just one unit.

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