Singapore, 31 May 2021 INGAPORE - Home seekers made a rush for four-room Build-To-Order (BTO) flats in Telok Blangah, contributing to one of the highest application rates in recent years.
This comes even as these flats are the most expensive units in the Housing Board's sales exercise this month.
Located in the mature estate of Bukit Merah, there were only 70 such flats on offer in the Telok Blangah Beacon project, yet they attracted 3,124 applicants as at 5pm on Monday (May 31).
This means that only one in more than 28 first-time applicants will get a unit.
However, Ms Christine Sun, senior vice-president of research and analytics at OrangeTee & Tie, noted that the overall application rate is considered healthy despite the Government's warnings of construction delays due to Covid-19. "The rising prices of HDB resale flats and private properties may be a factor. To many people, BTO flats are still considered more affordable and worth the wait," she said.