Demand for HDB flats in non-mature estates outstrips mature estates in August BTO train

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Demand for HDB flats in non-mature estates outstrips mature estates in August BTO train



The flat-type with the very best demand have been four-room items in Hougang – greater than 11,400 individuals utilized for simply 459 of such flats. Meaning every applicant solely has a 4 per cent likelihood of getting a unit.

With greater than 18 first-time candidates per four-room flat in Hougang, this is likely one of the highest utility charges seen lately.

One of many most important attracts for candidates for Kovan Wellspring is its location subsequent to the MRT station, mentioned Mr Lee Sze Teck, senior director of analysis at Huttons Asia.

The event in Kovan can be “extremely widespread”, with few new BTO flats within the space, mentioned Ms Christine Solar, senior vp of analysis and analytics at OrangeTee & Tie.

For Hougang Citrine, it’s near Paya Lebar Methodist Ladies’ Faculty and Maris Stella Excessive – each “widespread amongst mother and father”, she added.

There was additionally big demand for four-room flats at Toh Guan Grove in Jurong East, with 3,628 candidates for simply 240 items. This implies every applicant solely has a 6.6 per cent likelihood of success.

There may be “pent-up” demand within the Jurong East space as there haven’t been many BTO launches there, mentioned Mr Lee and Ms Solar.

That is the primary BTO undertaking in Jurong East in 10 years, and it’s inside strolling distance to a station on the longer term Jurong Area Line.

Each Hougang Citrine and Toh Guan Grove even have a median building interval of about 4 years.

“The shorter building interval is the draw and the money over valuation within the resale market is the push,” mentioned Mr Lee.

In whole, there have been greater than 18,600 purposes for three-room or larger BTO flats in non-mature estates, regardless of there being only one,064 items accessible. This equates to greater than 17 candidates per unit.

MATURE ESTATES

With 2,883 three-room or bigger flats accessible in mature estates, this was the very best variety of such items being made accessible in a BTO train since November final yr.

Set to be constructed within the areas of Kallang Whampoa, Queenstown and Tampines, they drew almost 15,000 candidates. That equates to about 5 candidates per unit.



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