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Larger Build-To-Order (BTO) flats inside the mature estates of Tampines and Ang Mo Kio was a hit among homebuyers at a Housing and Development Board (HDB) sales exercise that ended on Monday (18 November), whereas smaller units were significantly less popular.
In fact, all 235 four-room flats in Ang Mo Kio — the largest unit kind extended in the estate — obtained over 13 first-time applicants, although the three-room flats were significantly less popular, as all 87 units just around two applicants each, reported that The New Paper.
It was pretty much exactly the same in Tampines also, all 193 five-room and 218 four-room flats obtained around 11 bids, although the 90 three-roomers just saw three applicants each.
Contest for Tengah’s bigger flats, nevertheless, was sparse.
Each one of their estate’s four- and five-room units as well as the three-generation flats just drew two applicants. Its three-room flats attracted an application rate of 0.7 — that means all applicants will probably receive a flat.
Interest for its two-room flexi flats at all three estates have also been subdued, using an application rate of 0.3 at Tampines and Ang Mo Kio and 0.1 at Tengah.
Elderly citizens, below the two-toom flexi strategy, appreciate flexibility in picking the duration of lease in their two-room unit. Those aged 55 and above are allowed to take a lease of 15 to 45 years at five-year increments.
Last Tuesday (12 November), HDB offered 4,571 brand new BTO flats for sale at the year’s largest BTO sales exercise.
Excluding grants, a four-room flat in Ang Mo Kio extends from $451,000, even though a five-room unit in Tampines is priced from $508,000.
Eligible buyers can avail the Enhanced CPF Housing Grant up to $80,000, which places no limitation on the flat kind and location.
“The raised income means that more individuals are now qualified to purchase new flats and naturally, these families are trying for larger components,” said ERA Realty head of research and consultancy Nicholas Mak.