Record 43.3 applicants vie for each four-room BTO flat in Bukit Merah
The four-room BTO apartments in Bt Merah obtained awesome interest from buyers even though as the units are easily the most expensive in May 2021’s transactions operation.
Located throughout the cultured area of Bukit Merah, Telok Blangah Beacon obtained 43.3 applicants for every 4 bedroom flat, the largest document figure for such apartments over the last few years.
Lee Sze Teck, Dir of Research Study at Huttons Asia, noticed that “around 30 first time candidates plus 400 second-timer applicants are trying the restricted supply of flats”.
The 175-unit property is positioned close to Telok Blangah MRT station, with the three-room flats cost from $Four hundred Nineteen thousand (leaving out concessions), while rates for the four-room units started at $602K (omitting grants). This is the 1st Build-To-Order project inside of the location ever since ’13, when Telok Blangah Parcview was created.
Lee attributed the greater interest to the project’s main position in a developed area. Telok Blangah Beacon is moreover closest to the future GSW.
“Also paying $710K and even an interval of beyond 5 yrs is little deterrent to homebuyers who yearn for the spot including the unrealized upside of the improvement in years ahead,” Lee revealed.
Last mth’s May2021 BTO sales exercise noticed Housing and Development Board kick off Three thousand Eight hundred Seventy Nine BTO apartments across 4 housing properties in four community: Bukit Merah, Geylang, Tengah, along with Woodlands.
It also released 2thousand 4hundred 94 units following its SBF exercise. Lee noticed that May’s SBF operation saw a slightly increased inquiry rate weighed to the older routine in November last year.
“This is possibly as a result of the delays in finishing of Build-To-Order flats plus the cash-over-valuation in which home buyers of second-hand flats will have to fork out ever since the lockdown,” claimed Lee.