August BTO exercise sees strong demand for larger Ang Mo Kio and Tampines flats
Huge apartments in older estates saw the greatest application rates. 4- as well as five-room apartments at Sun Plaza Spring in Tampines saw application rates of 22.3 as well as 26.3 for the 150 and also 177 available flats, respectively. For Central Weave@AMK in Ang Mo Kio, the 398 four-room flats registered a 12.6 application rate, while five-room and also Three-Generation (3Gen) condos completing 372 units acquired a 17.5 application rate.
Sun assumes the higher number of clients might reflect more buyers resorting to the BTO market, considered that BTO units are presently more budget-friendly compared to increasing prices of resale condos as well as personal homes. “There have not been numerous new private residence introduce in current months. Consequently, purchasers now have much less housing choices, specifically for cash-strapped customers,” she adds.
Amongst the apartments in non-mature estates introduced, the project in Woodlands saw the greatest application prices at 6.6 for two-room Flexi apartments, 8.1 for three-room apartments, and also 11.7 for four-room apartments. At the same time, apartments at the projects released in Choa Chu Kang saw application rates between 2.0 to 2.6, while the project in Jurong East saw application rates in between 4.1 to 6.7.
While PLH units were oversubscribed, Sun says the application rate was less than in previous PLH launches. “Perhaps the pool of purchasers has reduced given that many PLH model flats have actually been released over the past year, and some people might have already purchased a unit in the earlier BTO exercises,” she suggests.
Sun associates the appeal of the projects in developed estates to the enough amenities and also closeness to MRT stations. “The Tampines property likewise has one of the shortest completion durations, around 36 months,” she adds.
She includes that the 10-year minimum rental duration for PLH flats and also a lot more rigid marketing requirements might have prevented investors. PLH condo owners are subject to a clawback aid of 6% when they offer their homes for the very first time.
Mori Condo Roxy Pacific Holdings Limited
The August 2022 BTO exercise closed on Sept 5, with 39,136 applications for the 4,993 units introduced to sell. This has to do with 30% more than the roughly 27,000 applications received during the May BTO exercise when 4,583 units were released, notes Christine Sun, higher vice director of research and analytics at OrangeTee & Tie.
The two deals launched under the prime place public housing (PLH) version– Havelock Hillside and also Alexandra Vale, both situated in Bukit Merah– saw application rates of 2.7 for three-room flats as well as 6.1 for four-room units. A total of 8,883 applications were gotten for the 1,651 PLH units opened.
