As of 2pm on 22 November, the subscription rate for 4-room flats stood at 4.1 for first-timers and 80.5 for second-timers, and 8.0 for the overall rate. Source: HDB
Demand for four-room flats in the first Build-To-Order (BTO) projects under a new prime location public housing (PLH) model have been strong, with such units receiving twice the number of applicants than units available just a day following their launch on 17 November, reported Today.
However, demand for the three-room flats remains muted. According to HDB, the application rate as of 2pm on 22 November for three-room flats stood at 0.8 for first-timers, 28.9 for second-timers, and 2.2 for the overall rate.
Conversely, there were 5,414 applicants competing for the 680 four-room flats at the Rochor BTO projects – River Peaks I and II – with an application rate of 4.1 for first-timers and 80.5 for second-timers, and 8.0 for the overall rate.
Being the first projects under the PLH model, the units come with stricter ownership criteria to keep flats within prime areas affordable and accessible to Singaporeans.
Flats under this model come with a longer minimum occupation period of 10 years, instead of the usual five years.
Owners of such flats are also prohibited from renting out the whole unit even after 10 years.
The robust demand for four-room flats was driven by second-time applicants. Again, with the three-room flats, second-time applicants accounted for most of the interest.
Aside from the Rochor projects, there were also seven BTO projects launched within non-mature estates Hougang, Chua Chu Kang, Tengah and Jurong West as well as in mature estate Kallang Whampoa.
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Cheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email: cheryl@propertyguru.com.sg.
