Applications for February BTO exercise exceed supply by 3.7 times

By EdgeProp | February 19, 2019 2:43 PM SGT
Applications for the Build-To-Order (BTO) flats in the HDB February exercise hit 14,751, or 4.7 times the supply. Under the exercise, 3,162 BTO units and 577 Re-Offer of Balance Flats (ROF) units were launched for sale.
Flats in Kallang/Whampoa were the most popular. This is within expectations, says Eugene Lim, key executive officer at ERA Realty Network. The Kallang/Whampoa flats attracted 7,084 applicants for 855 flats, or 8.3 times the supply. Their attractiveness is further evident from the second-timer application rate for four-room flats of 39.3 times, he notes.
“Despite the higher prices, applicants were attracted to the city fringe location and MRT station accessibility of the flats,” says Lim. “Also, second-timers typically have a little more cash and equity after disposing of their first subsidised flat.”
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Flats in Jurong West received application rates from 2.2 to 6.3 times the supply, for three-room to five-room flats. Lim says that this is due to their proximity to the Boon Lay and Pioneer MRT Stations and relatively low prices.
For the next BTO launch in May 2019, 3,400 HDB flats in Kallang/Whampoa, Tengah and Woodlands will be offered.