Demand for Build-To-Order (BTO) flats in the upcoming Bidadari estate continued to increase, with applications jumping over the weekend, particularly among second-timers.
According to Channel NewsAsia, analysts attribute this to Bidadari flats’ relatively higher price, which may have priced out some younger applicants.
Five-room flats within the upcoming estate were 15 times oversubscribed as of 5pm on Monday, with over 2,400 applications for the 151 units on sale, while the four-room flats were about four times oversubscribed, local media reports.
It is noted that a three-room BTO flat in Bidadari is priced from S$297,000 while prices for a five-room flat start from S$544,000, excluding grants.
Bidadari is already being compared with other mature estates like Clementi even before the first transaction is made. New flats in Clementi witnessed an overall application rate of around 10.8 during a recent sale exercise in June.
“HDB has done a very good job in marketing Bidadari, bearing in mind that not too long ago it was a cemetery,” noted Nicholas Mak, executive director of research and consultancy at SLP International.
“(With) the location of Bidadari and also the fact that it is not too far from two operational MRT lines, I think … at the close of the exercise, the application rate can be as close to that of some of the other mature estates such as Clementi.”
Nikki De Guzman, Editor at CommercialGuru, edited this story. To contact her about this or other stories email nikki@propertyguru.com.sg
