Post the delay caused by the circuit breaker, the combined May & Aug BTO exercise launched with an overwhelming interest from Singaporean buyers.
A whopping total of 41,306 applicants subscribed for the 7,862 new flats as of the 18 August 2020 (closing date of applications for the 11 housing developments).
That is an over-subscription rate of a whopping 5.25 times!
Here is a breakdown on the numbers:
2 Room Versus 3 Room and Bigger Flats
As of the closing of the application period (18 August), the 2 room flexi flats were oversubscribed by 2.7 times – by no means, a small feat. However, in contrast, the 3 room and bigger flats saw an almost triple oversubscription rate of 6.0 times or a total of 36,438 applications.
That number sure boggles our mind! But it is most certainly not unexpected. The circuit period breaker definitely has given many time to think through the benefits to having more space at home, and it is little wonder that we see such a high rate of subscription for the larger flats.
Non-Mature Estate Versus Mature Estates (2 Room Flats)
The non-mature estates for 2 room flexi flats included: Choa Chu Kang (Keat Hong Verge), Tengah (Parc Residences @Tengah), Woodlands (Champion Bliss & UrbanVille)
The mature estates for 2 room flexi flats included: Bishan (Bishan Towers) and Pasir Ris (Costa Grove) The preference for mature towns is still there when it comes to demand for 2-room flexi flats – after all there is a significant proportion of applicants being elderly and singles. Notably, Bishan (Bishan Towers) and Choa Chu Kang (Keat Hong Verge) had higher than average subscription rates at 4.0x and 3.4x.
Non-Mature Estate Versus Mature Estates (3 Room & Bigger Flats)
The non-mature estates for 3 room & bigger flats included are the same as above.
The mature estates for 3 room & bigger flats included: Ang Mo Kio (Kebun Baru Edge), Bishan (Bishan Towers), Geylang (Dakota One), Pasir Ris (Costa Grove) and Tampines (Tampines Green Crest, Green Opal and Green Glade).
In contrast with the smaller flats, the demand for non-mature and mature estates are relatively on par. Young adults, with better mobility and openness to the appeal of the new developments are probably the key drivers of the subscription for the non-mature estates.
Key mentions: The 5-room flats in Tengah (Parc Residences @Tengah), Woodlands (UrbanVille) received tremendous interest, with subscription coming in at overwhelming 7.0X and 9.8X.
Amongst the mature estates, the 5-room flats in Ang Mo Kio (Kebun Baru Edge) and 4-room flats in Geylang (Dakota One) also saw record numbers of 21.5X and 19.1X oversubscription.
Upcoming BTO launches to look out for:
- November 2020: Bishan, Tampines, Sembawang, Tengah and Toa Payoh
- Februrary 2021: Bukit Batok, Tengah, Kallang Whampoa and Toa Payoh