Demand for four- and five-room flats at Bidadari estate near Toa Payoh has already exceeded supply, just a day after HDB launched its biggest-ever sale of new units on Tuesday (Nov 17).
Of the more than 12,400 flats on sale, more than 2,140 are at Bidadari. They range from two-room flexi to five-room units.
According to data on HDB’s website, the five-room units at Bidadari are already more than six times subscribed as of 8.15pm on Wednesday. A total of 948 applications for the 151 five-room units available have been registered.
Considering just second-timer applicants alone, the subscription rate stands at more than 45 times, as there are only 151 five-room units open for application.
Applications for four-room units totalled 1,537, above the 1,229 on offer.
Prices for the Bidadari new flats are higher than those for BTO units in non-mature estates.
Demand for three-room flats was more subdued, with 183 applications for 567 available units.
An analyst Channel NewsAsia spoke with anticipates strong demand for the units at Bidadari. “It has access to various amenities, and is nearby two MRT stations – Potong Pasir and Woodleigh MRT, so definitely it will command a premium in pricing. So as such, because there are not many launches, BTO flats in mature estates, I will expect demand to be good for the Bidadari flats, even despite its sort of premium pricing,” said OrangeTee manager for Research and Consultancy Wong Xian Yang.
Applications for HDB’s latest round of BTO and balance flats are open till 11.59 pm on Nov 26, and interested parties can apply online any time before then.
Successful applicants will be determined by a computer ballot and not on a first-come-first-served basis.
Source : Channel NewsAsia – 19 Nov 2015