Kallang-Whampoa has emerged as the most popular estate in the HDB’s latest Build-To-Order exercise, which will end today, reported the media.
Eugene Lim, Key Executive Officer at ERA Realty, attributed the town’s popularity to its city fringe location and close proximity to Boon Keng MRT station.
As of 5pm on Tuesday, approximately 7.9 applicants were vying for each of the 463 four-room flats, while more than three applicants applied for each of the around 124 three-room flats in the HDB project in Kallang-Whampoa.
More than 4,630 new flats in Bukit Batok, Hougang, Jurong West and Kallang-Whampoa were available in September’s sales exercise. Overall, excluding studio apartments, there were more than three second-time applicants per flat and close to two first-timers applying for each unit.
Meanwhile, demand from singles remained robust, with around 11 applicants vying for each two-room flat on offer.
September’s BTO exercise also saw HDB introduce a new staggered downpayment scheme, in which an existing HDB flat owner who acquire a two-room or three-room flat in a non-mature estate will be allowed to pay lower downpayment for the new unit.
One analyst noted while the new policy is helpful, most second-time applicants are not expected to downsize in this month’s exercise.
“This scheme was only announced last week, and it would take time for us to explain this new scheme, as well as to persuade the retirees,” said Century 21 Singapore CEO Ku Swee Yong.
“In this BTO exercise, there are new flats that are available in the non-mature estates, which may be relatively near to their current living locations. Some of them are against moving too far away from their existing pool of friends and relatives, as they want to be in the neighbourhood they are familiar with,” he said.
“So, this is an ageing-in-place concept that HDB has been trying to push. In the next two or three BTO exercises, when the range of non-mature estates widens up for them to apply, and with the given time for the grassroots and HDB officers to explain this new scheme, I think the take-up rate will be much better,” Ku added.
Image (by HDB): Artist’s impression of St George’s Towers in Kallang Whampoa which offers Studio Apartments, three and four-room flats.
Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
