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2012 Choice of 3,923 new BTO flats for HDB first-timers
Singapore Property Market News and Analysis


Latest Property Real Estate News - Published on 11/01/2012

As part of the 25,000 new BTO flats to be launched in 2012, Housing Development Board (HDB) had just released five Built-to-Order (BTO) housing projects to ramp up the supply of new flats for first-timers. A total of 3,923 new flats are available across four estates mainly in Choa Chu Kang, Punggol, Sengkang and Tampines.

“HDB’s periodic plan of releasing new BTO flats is part of the approach in meeting the demands of the first-timers. 95% of BTO flats were reserved for first-timers, leaving only 5% for second-timers. Interestingly, in November 2011’s batch of BTO flats, the first-timer application rate was at 1.6, already a sign of moderation in the application.

A closer analysis of this batch of newly released BTO flats showed that the Tampines and Chua Chu Kang are going to have a higher subscription of more than 3 times, as Tampines Green Terrace and Tampines Alcoves are located just next to upcoming MRT stations. Due to the limited number of new BTO launches in Chua Chu Kang, we believe there will be a greater demand in this area too. It was noted that HDB had also revealed some of the sites for the next BTO launch in coming March and many of these are in the mature estates ie Clementi, Bedok, Bukit Batok, Bukit Panjang, Geylang. We foresee that this batch’s application may hold till March, as some of these homebuyers would probably want to be staying near to their parents in the matured estates. March’s release of new BTO flats may see subscription rate of nothing less than 3,” commented Mohamed Ismail, CEO of PropNex Realty.

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For media enquiries, please contact:

Carolyn Goh
Corporate Communications and Marketing Manager
P & N Holdings Pte Ltd (holding company of PropNex Realty)
480 Lorong 6 Toa Payoh #10-01 HDB Hub East Wing Singapore 310480
DID : (65) 6829 6968 / 98287834 | Main : (65) 6820 8000 | Fax : (65) 6829 6600
www.PropNex.com


Algene Hong
Corporate Communications Executive
PropNex Realty
480 Lorong 6 Toa Payoh #10-01 HDB Hub East Wing Singapore 310480
DID : (65) 6829 6966| Main : (65) 6820 8000 | Fax : (65) 6829 6600
www.PropNex.com
 



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