Two Dawson BTO projects see overwhelming demand

http://www.businesstimes.com.sg/sub/...65738,00.html?

Published December 29, 2009

Two Dawson BTO projects see overwhelming demand

Some flats were 12 times over- subscribed at the close of applications

By UMA SHANKARI


TWO highly anticipated public housing projects in Dawson estate have drawn overwhelming response, with some flats close to 12 times over-subscribed.

http://www.businesstimes.com.sg/mnt/...ES_UMHDB29.jpg
Centrepiece: There was strong interest in the two Dawson projects, given their choice location, says HDB. SkyVille@Dawson and SkyTerrace@Dawson are near the city centre and also close to Queenstown MRT station

The 1,718 flats at SkyVille@Dawson and SkyTerrace@Dawson in Queenstown - offered by the Housing and Development Board (HDB) under the build-to-order (BTO) scheme - had received 10,098 applications as at 5pm yesterday.

Applications for the project ended yesterday.

'As expected, there has been strong interest in the two Dawson projects, given their choice location,' HDB noted in a statement.

SkyVille@Dawson and SkyTerrace@Dawson are near Singapore's city centre and also close to Queenstown MRT station.

The five-room Dawson flats were the most popular, with 2,090 applications received for 176 available flats - about 11.9 times over-subscribed.

The 1,102 four-room flats attracted 6,015 applications while the 270 three-room flats drew 806 applications.

The 40 studio apartments available at the two projects also saw hot demand - 429 applications were received, making the studio apartments 10.7 times over-subscribed.

Paired units under HDB's new multi-generational scheme also saw high demand. The scheme allows parents and married children to buy paired flats. HDB received 379 pairs of applications for the 65 pairs of flats available at SkyTerrace@Dawson.

Other than Dawson's attractive location, the high prices of new private condominium apartments may have also pushed some buyers to these projects, noted Ngee Ann Polytechnic real estate lecturer Nicholas Mak.

Demand was also strong - albeit to a lesser degree - at the two other BTO projects launched by HDB. At Montreal Dale in Sembawang, 1,412 applications were received for 424 flats. And at Segar Grove in Bukit Panjang, 1,367 applications were received for 528 flats.

However, the two-room flats in both Sembawang and Bukit Panjang, and the three-room flats at Bukit Panjang were under-subscribed, which analysts said could be due to the low income ceiling that might exclude some potential buyers.

'HDB may have to review the income ceiling because the salary levels of Singaporeans have increased over the years,' said Mr Mak.

HDB said that the next BTO launch will be held on Jan 5. Buyers can look forward to another 1,300 flats in Choa Chu Kang and Hougang then. Added the agency: 'HDB will continue to launch more BTO projects in 2010 if there is sustained demand for new flats.'

http://www.straitstimes.com/Singapor...ry_471391.html

Dec 29, 2009

New BTO flats to come after Dawson rush

More flats in Choa Chu Kang, Hougang will be launched in a week's time

By Esther Teo


THE scramble for the Dawson HDB build-to-order (BTO) flats came to an end yesterday with some flats more than 11 times subscribed.

The two-week application window resulted in a flood of applications for five-room flats, which attracted 2,090 applications for the 176 available. There were 11.9 applications for each available unit.

But home seekers need not be discouraged by the daunting odds as the Housing Board yesterday announced that it will offer a fresh batch of BTO flats for sale next Tuesday.

Buyers can look forward to another 1,300 BTO flats in Choa Chu Kang and Hougang, the board said in a statement yesterday. 'HDB will continue to launch more BTO projects in 2010 if there is sustained demand for new flats.'

At Dawson, 6,015 applications were received for the 1,102 available four-room flats and 806 applications for the 270 three-room flats.

Demand for studio apartments outstripped supply by a factor of 10.7, with 429 applications for just 40 units.

Buyer interest was slightly less intense for paired units under the multi-generational scheme, with 379 applications for the 65 such flats available.

First-time buyers, who formed 70 per cent of all applicants, will be given priority. Ninety-five per cent of the flats, including those offered in Bukit Panjang and Sembawang, will be set aside for them.

Systems analyst Victoria Chew, 26, who applied for a four-room paired unit in Dawson, said she will look for a resale flat while waiting for her queue position to be announced in February.

Ms May Lee, 23, who also applied for a paired flat, was similarly unfazed by the high number of applications.

'There's no point worrying. When another good BTO project comes along, we can always apply again,' she said.

Ngee Ann Polytechnic real estate lecturer Nicholas Mak said that the centrally located Dawson flats are likely to make good long-term investments as they can be rented out once owners have adequately satisfied HDB's rental criteria.

Elsewhere, this month's two other BTO projects - Segar Grove in Bukit Panjang and Montreal Dale in Sembawang - attracted widespread interest as well.

There were 1,116 applications for Segar Grove's 196 four-room flats, while Montreal Dale's 152 four-room flats drew 1,085 applications. The two-room flats were, on average, 52 per cent subscribed.

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

[email protected]