Three applicants for every BTO flat on offer for July launch

The latest Build-to-Order (BTO) project saw three applicants for every new flat on offer.

There were 3,556 flats for the picking in the combined BTO exercise.

All in, there were 11,548 bids for seven projects across the island. This includes areas like Sengkang, Tampines, Jurong West and Yishun.

The combined launch is a new initiative aimed at providing home buyers more choice and greater chances of getting a flat.

Analysts that Channel NewsAsia spoke to said despite the increased supply, the high subscription rates remain unchanged from previous months.

They attribute this to lower BTO prices, combined with high prices of resale flats.

Buyers echoed the sentiments.

“Resale flats are just too expensive, I can’t afford it. A BTO flat is my only hope,” said one Singapore resident.

“BTO prices are very attractive this time round. If I sold my old flat and bought a new one, I could even make a profit of S$20,000 to S$30,000, or even S$50,000 to S$60,000 and more,” said another.

Source : Channel NewsAsia – 20 Jul 2011

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