The 1,527 flats in the Housing Development Board’s (HDB) two latest Built-to-Order (BTO) projects in Sengkang and Jurong West were seven times oversubscribed upon the closing of applications on 30 March 2011.
This exceeded experts’ expectations of four times the units on offer, ranging from studio to five-room units. The two previous BTO offerings registered a subscription rate of five times in Jurong West and two times in Sengkang.
Five-room flats attracted the most applications in both projects, which was eight times the supply in Sengkang and 10 times in Jurong West.
Interest remained strong, even after the HDB released the details of 10 BTO projects to be offered in the next two months, during the launch of the Jurong West and Sengkang developments last week.
Mr. Adam Tan, a spokesperson for PropNex, said, “Though the new measures have helped some buyers decide which areas they should wait for, people will always flock to the popular areas like Sengkang and Punggol.”