5 times oversubscribed

[mr funny]

http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_478987.html

Jan 18, 2010

BTO FLATS

5 times oversubscribed

By Harsha Jethnani


DEMAND for public housing shows no sign of abating, with the first Housing Board build-to-order (BTO) projects this year in Choa Chu Kang and Hougang, already attracting overwhelming interest.

The biggest draw were the four-room apartment types at Limbang Green in Choa Chu Kang, which as at 5pm on Mondasy, were 14 times oversubscribed.

Applications for four-room apartments went up to 2,681 for 188 such units at Limbang Green in Choa Chu Kang. At Buangkok Vale in Hougang, 2,608 applications were made for 458 four-room apartments.

A total of 6,848 applications were received for 1,291 units offered in the two projects, launched on Jan 5 - which is more than five times oversubscribed, indicating that demand is likely to be strong for future projects.

The HDB said in a statement on Monday that 12,000 new BTO flats will be released this year if there is sustained demand.

The final update on number of applications received will be posted on www.hdb.gov.sg at 2pm on Tuesday.

[mr funny]

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1031486/1/.html

HDB's BTO projects 5 times oversubscribed

By Hoe Yeen Nie/Mustafa Shafawi, Channel NewsAsia | Posted: 18 January 2010 1611 hrs


SINGAPORE: 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.

- CNA/sc