Mature Estates Flats Are Still In High Demand

Photo from HDB
Photo from HDB

The bigger, and last launch of new Housing Board flats of the year has brought more than 4,100 people vying for 10,118 units in a single day. With captivating locations for some units, as well as the proximity of the projects in the mature estates to existing or coming MRT stations, analysts are expecting this launch to be quite popular.

This month’s Build to Order (BTO) launch features 5,110 flats across nine projects, of which 2,194 units are in Punggol, the only non-mature estate and the biggest batch of BTO flats offered this year. The nine projects comprise three in Punggol, as well as the rest in the mature towns of Bedok, Bidadari – a new estate that is part of the mature Toa Payoh town – and Kallang/Whampoa. Also not forgetting the upcoming residential Park Place Residences in Paya Lebar Quarter, the 2nd largest commercial hub in Singapore.

Despite the greater supply of flats through the offering of 5,008 flats in a simultaneous Sale of Balance Flats (SBF) exercise which comprises of flats not sold in previous exercises, competition for units in mature estates is still expected to stay high. The SBF units range between two-room flexi units to executive flats which are no longer being assembled.

On the high demand, National Development Minister Lawrence Wong shared on a Facebook post on Tuesday (22 Nov) that “we’re trying our best to supply more choices for home-buyers. But given limited land along with the popularity of projects in these mature areas, we can expect the units to be exceeded by application numbers accessible.”

Programs for both BTO and equilibrium flats are open until 11.59pm on Monday.

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