The Build-To-Order flats at the popular Dawson estate in Queenstown have received an overwhelming response from home buyers.
The HDB received 2,300 applications for the 1,718 units available, just two days after they were launched.
Five-room flats were over two times subscribed, with about 500 applications for the 200 units available. Young home buyers say they like the flexi-layout scheme, which allows them to change the flat’s layout to suit their preferences.
But real estate experts said that home buyers must consider the resale value of their flat when choosing the layout.
David Poh, PropNex Realty’s senior group district director, said: “Most home buyers will prefer a three-room layout because this is the most suitable for families. So when you are thinking of re-selling the flat in future, I think having a three-room layout, probably, would be the most popular among home buyers.”
Under the multi-generation living scheme, 65 studio apartments are paired with four- or five-room flats to allow children to stay close to their parents. HDB received 44 applications for such paired flats.
Currently, owners of such homes can sell the attached units separately after living there for five years. Analysts said that if this rule changes, which means both units have to be sold together, the potential pool of buyers may be limited.
The other two BTO projects in Sembawang and Bukit Panjang were also well-received. Four-room flats at both places were over-subscribed, while over 100 units of the two- and three-room flats are still available.
Applications for the flats end on December 28.
Source : Channel NewsAsia – 16 Dec 2009