Singapore, 13 Mar 2023 More than half of the 30,000 public housing units in Tengah have been launched so far, as Singapore’s newest town takes shape four years after the first flats there were offered in 2018.
OrangeTee & Tie senior vice-president of research and analytics Christine Sun said interest in homes in Tengah has held steady throughout the last four years, as reflected in BTO application rates.
“The trend indicates that people are becoming more receptive to living in Tengah, although it is the newest town and many amenities are still under construction,” said Ms Sun.
Ms Sun said the current housing supply crunch and rising HDB resale flat prices could have prompted some young couples to apply for a new flat in Tengah, where prices are more affordable and competition is not as intense.
Ms Sun said application rates in Tengah largely depend on the location of each project, with those near MRT stations the most popular, and projects farther away from main transport nodes and amenities drawing less demand.