SINGAPORE - Flat buyers made a beeline for bigger flats in Serangoon in the ongoing Build-To-Order (BTO) sales exercise, signalling a pent-up demand in the mature estate that had not seen new flats launched for about nine years. As at 5pm on Thursday, 2,390 applicants had applied for the 129 five-room flats in the Serangoon North Vista BTO project. This...
, signalling a pent-up demand in the mature estate that had not seen new flats launched for about nine years.
Huttons Asia senior director of research Lee Sze Teck said the “rare” BTO project in Serangoon is attractive to first-timer families who hope to live in an area near their family. The third project in a mature estate – Farrer Park Arena – drew more than two first-timer applicants for each of its four-room flats. However, first-timer applicants gunning for a three-room flat in the same project will likely be able to book a flat as demand remains muted.
One of the two developments in the area – Parc Meadow @ Tengah – will be situated within 1km of the future Anglo-Chinese School Primary school when it moves to the town in 2030.An artist’s impression of Plantation Verge. PHOTO: HDB In a statement on Thursday, the Housing Board said the median application rate for first-timer applicants for three-room and bigger flats for this exercise was 2.2 applicants for each available unit.
About 90 per cent of the BTO flats in the May launch have a waiting time of less than four years, down from the median waiting time of between four and five years at the peak of the pandemic.
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