SINGAPORE: Two Build-to-Order (BTO) projects in Tampines and Holland Vista turned out to be the most sought-after among first-timer families in the June sales launch.
The Tampines GreenTopaz project saw more than eight applicants for each unit, according to the Housing and Development Board (HDB) in its final update on Thursday (Jun 27) on applications received.
There were 2,288 applicants for 214 four-room flats, with a first-timer rate of 8.2. For the 174 five-room flats, there were 2,276 applicants, with a first-timer rate of 8.5.
Over at Holland Vista in Queenstown, the 228 four-room flats available drew 2,233 applicants. The first-timer rate stood at 6.6.
Huttons’ senior director of data analytics Lee Sze Teck noted that it is a small project and “probably the last plot of land for public housing in Holland Village”.
HDB launched a total of 6,938 flats for sale on Jun 19, with applications closing at the end of Wednesday.
Holland Vista is one of three BTO projects to fall under the Prime Location Public Housing (PLH) model, which comes with higher subsidies, but also more restrictions if owners decide to sell their flats. The other two are Tanjong Rhu Riverfront I and II in Kallang/Whampoa.
The other projects in June’s launch, the second of three launches this year, are in Jurong East, Tampines, Woodlands and Yishun.
Tanjong Rhu Riverfront I and Tanjong Rhu Riverfront II in Kallang Whampoa had a total of 390 applicants for 197 three-room flats, while there were 3,963 applicants for the 1,296 four-room flats. The first-timer rates stood at 0.9 and 2.1 respectively.
In a Facebook post on Wednesday, the last day of the eight-day launch period, HDB said that the Tampines GreenTopaz and Holland Vista projects saw higher application rates “likely due to their locations in mature estates and prime areas, and since they are situated close to amenities and/or MRT stations”.
Among the projects in non-mature estates, the most popular among first-timer families is Chencharu Hills in Yishun. It has a first-timer rate of 2.5, with 1,609 applicants vying for 390 five-room flats.
For the 420 four-room flats, the first-timer rate is 2.1, with a total of 1,385 applicants. The three-room flats drew 305 applicants for 82 units, with a 1.7 first-timer rate.
Commenting based on figures as of 2pm on Wednesday, OrangeTee’s chief researcher and strategist Christine Sun described the Chencharu Hills project as a “dark horse”.
She said the sales performance was better than expected, since there were “many more outstanding sites (that) have been released in the same sales launch”.
According to HDB, the median application rate for first-timers for three-room flats and bigger units in this exercise stood at 1.9, slightly higher than the 1.6 at the previous BTO launch in February.
This exercise marks the last BTO launch where flats are still classified under mature/non-mature estates. The October launch will see new HDB flats classified as Standard, Plus or Prime, with different resale conditions attached to each housing type.
