The Lake Vista project under the Design, Build and Sell Scheme (DBSS) at Yuan Ching received some 1,000 applications as at 4pm Monday.
With 682 units available, this means that there are three applications for every two units, said developer Hoi Hup Sunway Pte Ltd.
Applications will close at midnight on Monday.
Analysts said demand for the Lake Vista project was as expected and not overwhelming. Although prices were competitive, buyers were put off by its distance from the city area, said analysts.
Compared to two other DBSS projects launched this month, Lake Vista is the furthest from the city.
Analysts said future developments in the Jurong Lake district should help to add value to Lake Vista.
Being the first such project in Jurong Lake, Lake Vista has helped to satisfy the demand for applicants such as upgraders and couples.
While the government reviews the DBSS policy, analysts said if prices for these projects are reasonable, they will continue to be attractive for buyers.
Source : Channel NewsAsia – 24 Oct 2011