HDB’s BTO projects 5 times oversubscribed

The Housing Development Board’s (HDB’s) first two Build-to-Order (BTO) projects launched for the year are receiving very favourable responses.

A few hours before the close of applications at 2359hrs on Monday, the 1,291 units being offered at Limbang Green in Choa Chu Kang and Buangkok Vale were more than five times oversubscribed.

The four-room flats were the most popular.

The 188 four-room units in Limbang Green received nearly 2,700 applications, and 458 units in Buangkok Vale received 2608 applications – six times more than units available.

Those who cannot wait are turning to resale flats, and housing analysts said resale prices are likely to remain high because it is a seller’s market right now.

Source : Channel NewsAsia – 18 Jan 2010

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