August BTO exercise sees strong demand for larger Ang Mo Kio and Tampines flats

Amongst the apartments in non-mature estates launched, the project in Woodlands saw the highest possible application prices at 6.6 for two-room Flexi apartments, 8.1 for three-room flats, and also 11.7 for four-room houses. On the other hand, flats 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 between 4.1 to 6.7.

While PLH units were oversubscribed, Sun states the application rate was lower than in previous PLH debut. “Maybe the pool of customers has diminished considering that several PLH version flats have actually been introduced over the past year, as well as some consumers might have already acquired a unit in the earlier BTO exercises,” she opines.

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She incorporates that the 10-year minimum occupation duration for PLH apartments as well as much more stringent selling criteria might have prevented customers. PLH apartment proprietors undergo a clawback subsidy of 6% when they market their houses for the very first time.

Sun connects the appeal of the properties in developed estates to the adequate services and also closeness to MRT terminals. “The Tampines project likewise has one of the fastest end periods, around 36 months,” she includes.

Both deals released under the prime area public housing (PLH) model– Havelock Hillside as well as Alexandra Vale, both situated in Bukit Merah– saw application rates of 2.7 for three-room apartments as well as 6.1 for four-room flats. A total of 8,883 applications were gotten for the 1,651 PLH units introduced.

Sun assumes the better amount of clients might mirror much more purchasers relying on the BTO market, considered that BTO units are presently extra cost effective contrasted to climbing prices of resale flats and also exclusive homes. “There have actually not been many brand-new exclusive home release in current months. As a result, customers currently have less real estate options, especially for cash-strapped customers,” she adds.

Huge flats in developed estates saw the highest application rates. Four- and five-room flats at Sun Plaza Spring in Tampines saw application rates of 22.3 and 26.3 for the 150 as well as 177 available apartments, each. For Central Weave@AMK in Ang Mo Kio, the 398 four-room apartments signed up a 12.6 application rate, while five-room and Three-Generation (3Gen) condos amounting to 372 units gained a 17.5 application rate.

The August 2022 BTO exercise closed on Sept 5, with 39,136 applications for the 4,993 units launched to sell. This has to do with 30% more than the approximately 27,000 applications earned during the May BTO exercise when 4,583 units were launched, notes Christine Sun, top vice head of research and analytics at OrangeTee & Tie.

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