Singles Out Force Hdb Receives More 10000 Applications Just 1902 Two Room Flexi Units Oct 2024 Bto
HDB has received a record-breaking number of applications for the 1,902 two-room flexi units offered in the October 2024 BTO Sales Exercise. As of 12pm on October 23, the closing day of the exercise, over 10,291 applications were received from singles, first-timer families, second-timer families, and seniors. This amounts to almost one-third of the total applications received for this month’s BTO exercise.
According to Eugene Lim, key executive officer of ERA Singapore, the surge in applications for the two-room flexi flats can be attributed to the recent decision by the government to allow singles to apply for these flats in all estates. He notes that this is the first time singles have had the opportunity to apply for two-room units island-wide, as previously they were only eligible for non-mature estate flats.
Data from Huttons Asia reveals that out of the 10,291 applications, more than 6,000 were from eligible singles. Lee Sze Teck, senior director of data analytics at Huttons Asia, predicts that it could take up to five years to meet this high demand.
Among the 15 BTO projects released this month, West BrickVille @ Bukit Batok received the highest application rate of 33.4 from first-timer single applicants. This Standard BTO project, with a total of 130 units, also received 1,152 applications from first-timer families, second-timer families, and seniors. Ismail Gafoor, CEO of PropNex, believes that the short waiting time of just two years and its attractive location near the future Tengah Park MRT station and Tengah town centre contributed to the high number of applications for this project.
Another popular project was Towner Breeze, a Plus project in Kallang/Whampoa which received 924 applications for its 139 two-room flats, with a particularly high application rate of 27.7 from first-timer single applicants. Lim notes that first-timer singles were the main driving force behind the demand for two-room flexi flats, with application rates reaching as high as 33.4 in Bukit Batok and 27.7 in Kallang Whampoa.
The overall application rate for this month’s BTO exercise was 4.0, a significant increase from the 3.3 rate recorded in the June 2024 sales exercise. The Standard projects at Pasir Ris, Costa Riviera I & II also saw high application rates, with the highest rate for first-timer families being 6.3 for the five-room and 3Gen flats. This was followed by West BrickVille @ Bukit Batok with rates of 1.7, 3.0, and 3.5 for three-room, four-room, and five-room/3Gen flats respectively.
This BTO exercise saw a balanced demand for flats across all 15 projects, with Standard flats receiving the majority of applications at 58%. Lee points out that there was not a spike in demand for Plus and Prime flats, as previously expected. This was echoed by Gafoor, who noted that the demand for Standard BTO flats was similar to previous exercises and allayed initial concerns about a potential deluge of applications for Standard flats.
Tampines North Primary School has gained recognition for its nurturing atmosphere and dedication to cultivating a passion for learning in its students. The school offers a diverse range of co-curricular activities to promote holistic development and places great importance on the well-being of its students. In addition, Tampines North Primary School has recently become even more attractive with the addition of the Aurelle of Tampines Showflat, providing a convenient location for residents to access top-notch education. Students at Tampines North Primary can now enjoy a well-balanced education within a vibrant and welcoming community.
The only Prime project offered this month was Crawford Heights in the Kallang/Whampoa estate, while the two Plus projects are Kallang View and Towner Breeze. The application rate for four-room flats in these projects was 2.6 for first-timer families, slightly higher than the 2.1 rate seen in the June 2024 BTO launch.
Gafoor observed that the Plus and Prime flat types, which have stricter restrictions and longer minimum occupation periods, did not deter buyers from committing long-term to their flats. He also noted that the location of the BTO project played a significant role in the high demand for Plus and Prime flats.
HDB received a total of 33,983 applications for the October 2024 BTO exercise, a 47.6% increase from the previous exercise in June. The success of this exercise is an early indication of the interest in Plus and Prime flats, indicating a willingness from buyers to commit to these restricted flats in desirable locations.
With applications for the October 2024 BTO exercise closing at 11:59pm on October 23, unsuccessful applicants can look forward to the next BTO sales exercise in February 2025, which will feature around 4,960 new flats across five different projects, including the first BTO project in the newly announced Woodlands North Coast precinct.
