HDB's BTO projects 3 times oversubscribed

HDB's BTO projects 3 times oversubscribed
Posted: 01 May 2011 1726 hrs

SINGAPORE: The largest supply of new Build-To-Order (BTO) flats in a single launch since 2002 has been over-subscribed by three times.

As at May 1, the Housing and Development Board (HDB) said 9,359 applications for the 3,185 flats have been received.

They are for flats at Anchorvale Cove in Sengkang, Hougang Parkview in Hougang, Montreal Ville in Sembawang and Waterway Terraces II in Punggol.

This translates to an overall application rate of about 2.94 times.

They range from two-room to five-room flats and from standard to premium flats.

Of the 9,359 applications, 4,497 applications were for the 804 flats under Waterway Terraces II.

The HDB said the higher interest from flat buyers for Waterway Terraces II is expected due to its good location and award-winning design.

It added that premium flats had higher application rates than standard flats in spite of their higher prices.

For example, there were 493 applications for the 366 four-room standard flats in Montreal Ville.

In comparison, there were 2,472 applications for the 440 four-room premium flats in Waterway Terraces II.

Among premium flats, the bigger flats were more popular than the smaller flats, despite the higher prices for the former.

For example, there were 328 applications for the 118 three-room flats in Waterway Terraces II.

In comparison, there were 1,697 applications for the 246 five-room flats in Waterway Terraces II.

Applicants can look forward to earlier notification of their ballot results, as the HDB will halve the time taken to invite applicants to select their flats.

It will notify applicants of their ballot results in mid-May 2011.

The HDB said it has increased flat supply significantly to meet demand.

On top of the large supply of 3,185 flats in April 2011, prospective homebuyers can look forward to 6,070 more new BTO flats to be offered in May and June 2011.

They will be located in Pasir Ris, Punggol, Tampines, Woodlands, Bukit Panjang and Sengkang.

The HDB will offer a total of 22,000 new BTO flats in 2011 if demand sustains.

It said the April launch of these 3,185 flats, together with another 6,070 flats in May and June, will bring the total BTO supply in the first half of this year to 14,100 units.

This is close to 90 per cent of the 16,000 BTO flats offered in the whole of 2010.

The HDB added that the BTO supply will be supplemented by the Design, Build & Sell Scheme (DBSS) and the Executive Condominium (EC) Housing Scheme.

For 2011, land sites for 4,000 DBSS flats and 4,000 Executive Condominium units are scheduled for sale.

- CNA/fa

- wong chee tat :)