Record 43.3 applicants vie for each four-room BTO flat in Bukit Merah
The four-room Build-To-Order apartments in Bt Merah got overwhelming demand from homebuyers even though as the flats are the most costly in May 2021’s deals movement.
Positioned within the matured estate of Bukit Merah, Telok Blangah Beacon got Forty Three prospects for each and every four bedroom unit, the highest possible requisition price for similar flats over the last few years.
Lee Sze Teck, Director of Research at Huttons Asia, observed in which “roughly 30 first timer prospects plus 4hundred second-timer individuals are trying to get the minimal supply of apartments”.
The One hundred Seventy Five flats property is positioned close to Telok Blangah MRT terminal, with the 3 room flats priced from $Four hundred Nineteen thousand (excluding subsidies), while costs for the four-room flats opened at $Six hundred Two thousand (counting out assistances). It is the very first BTO property among the location after 2013, when Telok Blangah Parcview was released.
Lee traced the high demand to the property’s central place in a fully grown area. Telok Blangah Beacon is additionally nearest to the near future Greater Southern Waterfront.
“And even paying $710,000 and a delay of more than five yrs is zero obstacle to home buyers who choose the spot including the hidden upside of the change for better in yrs ahead,” he pointed out.
Last month’s May2021 BTO sales operation saw Housing and Development Board release Three thousand Eight hundred Seventy Nine BTO apartments spanning four housing projects in 4 zone: Bukit Merah, Geylang, Tengah, along with Woodlands.
It also introduced 2.494K flats following its SBF operation. Lee took note that May’s Sale of Balance Flats exercise observed a relatively increased application pace analyzed to the past routine in November 2020.
“This is probably due to the postponements in completion of BTO flats as well as the cash-over-valuation in which buyers of second-hand units will need to fork out since the lockdown,” stated Lee.