Record 43.3 applicants vie for each four-room BTO flat in Bukit Merah
The four-room Build-To-Order units in Bukit Merah gathered awesome need from buyers even as the flats are easily the most highly-priced in past calendar month’s deals exercise.
Found throughout the matured community of Bukit Merah, Telok Blangah Beacon gained 43.3 prospects for every four-room apartment, the strongest inquiry rate for such flats in recent times.
Lee Sze Teck, Dir of Research Study at Huttons Asia, recorded in which “near 30 first-timer prospects and also 4hundred second-timer candidates are trying the limited supply of flats”.
The 175-unit property is positioned close-by Telok Blangah MRT station, with the 3 bed room flats estimated from $419K (not including assistances), while rates for the four-room units kicked off at $6hundred 2K (leaving out concessions). This is the 1st Build-To-Order project within the location ever since ’13, when Telok Blangah Parcview got ushered in.
Lee pinned on the soaring interest to the project’s main position in a matured estate. Telok Blangah Beacon is moreover nearest to the forthcoming Greater Southern Waterfront.
“In fact, paying off $710,000 and a hold-up of more than 5 yrs is very little deterrent to customers that want the area plus the hidden upside of the changeover in years to go,” Lee said.
Past mth’s May’21 BTO deals exercise saw Housing and Development Board release 3.879K BTO flats spanning four homes properties in four community: Bukit Merah, Geylang, Tengah, plus Woodlands.
Housing and Development Board also launched Two thousand Four hundred Forty Four apartments within its Sale of Balance Flats exercise. Lee indicated that May’s SBF routine saw a marginally higher requisition pace matched up to the last routine in November 2020.
“This is very likely because of the delays in completion of BTO apartments also the COV that buyers of secondhand units have to dispense since the lockdown,” pointed out Lee.