(Top : Fernvale Palms in Sengkang, Bottom : Boon Lay Meadow in Jurong West) There were almost four times the numbers of applicants for the 1,200 flats released in HDB’s Build-To-Order (BTO) flats in Sengkang and Jurong West.
However, one industry player sees this demand for BTO flats as the norm and not as a result of the recent high prices in the HDB resale market.
Mohammed Ismail, CEO of Propnex, said: “BTO are generally in greater demand and the usual number of subscription actually depends on the location. If the BTO appears in a mature estate, we could see a very high number, (one which could) well exceed five times (the number of available flats).”
Prices for resale flats are expected to remain high over the next few quarters because of the demand from those who do not qualify for the BTO or Design, Build and Sell Scheme (DBSS) projects.
Eugene Lim, ERA’s Asia-Pacific’s associate director, commented that new BTO flats will do little to dampen resale prices. Continue reading
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