Press Release
21 February 2024
FOR IMMEDIATE RELEASE
Singapore, 5 December 2023 – The Housing & Development Board (HDB) has launched the December Build-to-Order (BTO) sales exercise.
https://homes.hdb.gov.sg/home/landing
Overview
Starting this year, there will only be three Build-To-Order (BTO) sale exercises instead of the usual four. We anticipate a higher number of applicants for this BTO exercise due to the longer waiting times between exercises, prompting eligible applicants to apply earlier.
However, this does not necessarily mean that applicants will have a lower chance of acquiring a flat. In the past, some applicants who had a queue number were not allowed to participate in the next BTO exercise. But now, with a wider time gap, these applicants will be able to take part in the next BTO sale exercise. Moreover, the non-selection penalty is still in place, which means that buyers who are ready to commit will still have a good chance of obtaining a flat since the new ruling will discourage less serious buyers from applying.
Project analysis
Popular projects include Bedok, Punggol and Woodlands. Moreover, most units have a shorter waiting time of less than three and a half years. Below is the analysis with ranking order based on project popularity.
1. Bedok - Bedok North Springs may be popular as it is near the Bedok Reservoir MRT station. It is also within walking distance of Red Swastika School and Yu Neng Primary School. There is still a lack of new flats in this area as there have only been two launches in Bedok in recent years - Bedok South Blossoms and Chai Chee Green. Some couples may apply for a flat here as their parents could be staying in condos nearby, as many condos have been built along Bedok Reservoir Road and Tanah Merah. Moreover, this project offers 5-room flats, which will attract families looking for bigger flats.
2. Punggol - Matilda Riverside will likely be one of the more popular projects, mainly due to the pent-up demand for new flats in the area. The last launch was in September 2019 (Punggol Point Crown and Punggol Point Cove II). Moreover, new flats fronting or enjoying reservoir views are quite rare. Out of the 26 towns, Punggol was one of the top 10 towns with the highest resale price growth in 2023, according to HDB resale transactions. As a result, many young couples may be interested in purchasing a property in Punggol due to its attractive potential for capital appreciation.
3. Woodlands- Woodgrove Edge may be quite popular due to its proximity to the Singapore Sports School and a few other schools. This is also a big site with many units to choose from, including a big supply of 5-room flats.
4. Hougang - Tanjong Tree Residences may be quite popular given its proximity to the Paya Lebar Methodist Girls' Primary and Secondary School. Moreover, the last BTO launch in Hougang was in 2021. Therefore, there may be some pent-up demand in this area.
5. Queenstown - Tanglin Halt Courtyard may draw healthy interest given its proximity to the city fringe. There is also a low supply of new flats in this area. However, over 11,000 PLH model flats have already been launched in Queenstown. The large supply of PLH model flats may pose as stiff competition for sellers in the future.
6. Bedok - Bedok South Bloom may be less popular than Bedok North Springs because it is situated between two MRT stations which may not be within short walking distance of the MRT Stations. Moreover, this site does not offer 5-room flats; therefore, couples looking for bigger units will opt for Bedok North Springs. However, it is still within walking distance of a Primary School. There are also more flats offered in this project, especially 4-room flats. Therefore buyers who wish to have a higher chance of success may select this project.
7. Choa Chu Kang - Rail Gardens may be less popular as connectivity and amenities may not be as comprehensive.