Record 43.3 applicants vie for each four-room BTO flat in Bukit Merah
The 4 bedroom BTO apartments in Bt Merah received overwhelming interest from property buyers even as the units are the most pricey in May’s deals exercise.
Positioned among the developed zone of Bt Merah, Telok Blangah Beacon gathered Forty Three individuals for each and every 4 bed room flat, the highest possible application rate for these apartments in recent times.
Lee ST, Director of Research at Huttons , documented that “near 30 first-timer prospects including 400 2nd timer applicants are trying the limited supply of flats”.
The 175-unit property is positioned in close proximity to Telok Blangah MRT terminal, having the three-room units estimated from $419K (omitting concessions), while values for the four-room flats started off at $602,000 (not including subsidies). It is the very first BTO property among the area ever since 2013, when Telok Blangah Parcview got launched.
Lee associated the soaring request to the project’s central place in a fully grown area. Telok Blangah Beacon is likewise closest to the coming future Greater Southern Waterfront.
“Yet paying out $Seven hundred Ten thousand and a delay of at least five yrs is little hindrance to prospective buyers that desire the area plus the unrealized advantage of the change in yrs ahead,” he revealed.
Previous month’s May’21 BTO purchases exercise saw HDB release 3thousand 8hundred 79 Build-To-Order apartments across four homes projects in four estates: Bukit Merah, Geylang, Tengah, plus Woodlands.
Housing and Development Board also launched Two thousand Four hundred Forty Four flats underneath its Sale of Balance Flats routine. Lee noticed that May’s SBF exercise saw a somewhat increased requisition pace matched up to the earlier movement in Nov 2K20.
“This is perhaps due to the setbacks in completion of BTO apartments and the COV that buyers of second-hand flats need to fork out from the CB,” mentioned Lee.