Huge demand for flats at The Peak

http://www.straitstimes.com/Singapor...ry_369996.html

April 29, 2009 Wednesday

Huge demand for flats at The Peak


DEMAND for flats at The Peak @ Toa Payoh, a condo-like public housing, has been overwhelming.

When the developer closed its office at 6pm yesterday, there were already 2,900 applications for the 1,203-unit project.

This means there were roughly five applications for every two units. The final number might even be higher as electronic applications closed only at midnight last night.

The project at Lorong 1A Toa Payoh comes under the design, build and sell scheme (DBSS), and offers premium condo-like fittings.

This project by a Hoi Hup-led consortium is being sold by ballot. Unlike private condominiums, these projects do not have facilities such as swimming pools and gymnasiums.

Observers say the demand is surprising given that for the same price, buyers are spoilt for choice in the current lacklustre market.

GABRIEL CHEN

Wah, eye popping huge demand! Where is the so-called 'deepest recession since Singapore's independence' koyak that people are selling? Nobody really cares? :eek:

Quote:

---

Originally Posted by mr funny

http://www.straitstimes.com/Singapor...ry_369996.html

April 29, 2009 Wednesday

Huge demand for flats at The Peak


DEMAND for flats at The Peak @ Toa Payoh, a condo-like public housing, has been overwhelming.

When the developer closed its office at 6pm yesterday, there were already 2,900 applications for the 1,203-unit project.

This means there were roughly five applications for every two units. The final number might even be higher as electronic applications closed only at midnight last night.

The project at Lorong 1A Toa Payoh comes under the design, build and sell scheme (DBSS), and offers premium condo-like fittings.

This project by a Hoi Hup-led consortium is being sold by ballot. Unlike private condominiums, these projects do not have facilities such as swimming pools and gymnasiums.

Observers say the demand is surprising given that for the same price, buyers are spoilt for choice in the current lacklustre market.

GABRIEL CHEN

---

Quote:

---

Originally Posted by teddybear

Wah, eye popping huge demand! Where is the so-called 'deepest recession since Singapore's independence' koyak that people are selling? Nobody really cares? :eek:

---

5-to-2 is a failure for HDB already.

During the boom times in 2007, HDB flats including those Boon Keng etc were oversubscribed 5-to-1.

Oh I see. If we go back to boom time again, can we expect 5-to-1 or more again? Then a 5-rm HDB flat can sell for more than S$1m since demand so much more than supply? :eek:

Quote:

---

Originally Posted by Lord Anus

5-to-2 is a failure for HDB already.

During the boom times in 2007, HDB flats including those Boon Keng etc were oversubscribed 5-to-1.

---

Quote:

---

Originally Posted by Lord Anus

5-to-2 is a failure for HDB already.

During the boom times in 2007, HDB flats including those Boon Keng etc were oversubscribed 5-to-1.

---

Have u missed the boat perhaps? sounds like it.

Quote:

---

Originally Posted by Lord Anus

5-to-2 is a failure for HDB already.

During the boom times in 2007, HDB flats including those Boon Keng etc were oversubscribed 5-to-1.

---

If I remember correctly, it was more like 10 to 1. There was this mad rush for govt HDB because many families couldn't afford the bubble building around resale HDB courtesy of those mad bids by enbloc millionaires.

Quote:

---

Originally Posted by rk1

Have u missed the boat perhaps? sounds like it.

---

Why can't you people be objective instead of making childish comments? The figures speak for themselves. Demand HAS gone down a lot.

I am sure none of us here really wish for Singapore economy to die a horrible death. But we mustn't bolster ourselves with foolhardy words and giving ourselves false hope. The sooner we acknowledge the downtrend, the sooner bottom will be reached and recovery will occur. Otherwise we'll just be like Obama's America, keep feeing drugs to the drug addicts, hoping that the addict will miraculously be weaned off drugs.