http://www.straitstimes.com/Breaking...ry_632202.html
Feb 7, 2011
Slow take-up for Build-To-Order flats at Yishun
By Cheryl Ong
Vista Spring@Yishun, overall oversubscription rate stayed at about two times. -- PHOTO: Artist's impression
THREE Housing Board build-to-order (BTO) projects launched in Yishun and Bukit Batok last month have met with a more lukewarm reception from homebuyers compared to previous projects.
On Monday, with hours to go before the deadline for applications, the overall oversubscription rate stayed at about two times for the projects Golden Daisy at Bukit Batok, and Orchid Spring@Yishun and Vista Spring@Yishun.
This showing pales in comparison to a January BTO launch for Punggol Topaz that received six times more applicants than there were flats on offer, and a November launch in Yishun Greenwalk that was three times oversubscribed.
Golden Daisy, which comprises 180 studio apartments for older residents, also had an oversubscription rate of three times.
However the two projects at Yishun, featuring 1,548 flats ranging from 2-room to 5-room units, got 1.8 times as many applicants as there were flats on offer. The 2-room units were the only ones that were undersubscribed, with just 132 applicants for the 192 units available.
Industry watchers say the Housing and Development Board's promise to put up as many as 22,000 new flats under the BTO scheme if demand is sustained, has made many buyers more selective about the BTO launches they apply for.