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Thread: Big demand for new flats

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    mr funny is offline Any complaints please PM me
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    Default Big demand for new flats

    http://www.straitstimes.com/Singapor...ry_348981.html

    March 12, 2009 Thursday

    Big demand for new flats

    By Joyce Teo


    A HOUSING Board sale of new flats in Woodlands has attracted strong demand, with bigger flats keenly sought after.

    Champions Court, a build-to-order (BTO) project, closed yesterday with 3,239 applications for just 815 units. The final update will be made at 2pm today.

    The 224 studio apartments - offered for the first time in Woodlands - drew 632 applications, while 422 potential buyers chased the 182 three-room flats. Studios are priced indicatively from $57,000 to $80,000, with the three-roomers at $118,000 to $142,000.

    The 224 four-room flats - from $194,000 to $227,000 - attracted 1,239 applications. The 185 five-roomers, which will cost about $247,000 to $296,000, received 946 bids.

    PropNex chief executive Mohd Ismail said the robust demand for the four- and five-room flats was expected, given that they are in a mature estate and priced affordably.

    Champions Court is at the junction of Champions Way and Woodlands Avenue 1 and near the Woodlands Regional Centre.

    The HDB had earlier provided data that showed that comparable four-room resale flats in Woodlands were selling for $255,000 to $278,000, while five-room resale units went for $304,000 to $345,000.

    The overall median cash-over-valuation for a resale flat in Woodlands was $15,000 in the fourth quarter of last year.

    A sale in a more central part of Singapore is unlikely to attract the same level of demand as the flats would be priced at a higher quantum, said Mr Ismail.

    'Whoever applies now will be stuck with it for eight years, including the construction and minimum occupation periods,' he said.

    'Therefore, a three-room flat may not be ideal for a family with kids, in today's affluent society.'

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    teddybear's Avatar
    teddybear is offline Global recession is coming....
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    Firstly, how big is the 3-room flat & studio hah? Heard the new flats all smaller size than older ones (so knowing the actual size is important rather than "3-room", "studio", etc). I thought reporter should get to the bottom of such "grey" news instead of reporting as it is? (what I am trying to say is that the term "3-room", "studio" etc is meaningless without knowing the actual size in sq ft).


    Quote Originally Posted by mr funny
    http://www.straitstimes.com/Singapor...ry_348981.html

    March 12, 2009 Thursday

    Big demand for new flats

    By Joyce Teo


    A HOUSING Board sale of new flats in Woodlands has attracted strong demand, with bigger flats keenly sought after.

    Champions Court, a build-to-order (BTO) project, closed yesterday with 3,239 applications for just 815 units. The final update will be made at 2pm today.

    The 224 studio apartments - offered for the first time in Woodlands - drew 632 applications, while 422 potential buyers chased the 182 three-room flats. Studios are priced indicatively from $57,000 to $80,000, with the three-roomers at $118,000 to $142,000.

    The 224 four-room flats - from $194,000 to $227,000 - attracted 1,239 applications. The 185 five-roomers, which will cost about $247,000 to $296,000, received 946 bids.

    PropNex chief executive Mohd Ismail said the robust demand for the four- and five-room flats was expected, given that they are in a mature estate and priced affordably.

    Champions Court is at the junction of Champions Way and Woodlands Avenue 1 and near the Woodlands Regional Centre.

    The HDB had earlier provided data that showed that comparable four-room resale flats in Woodlands were selling for $255,000 to $278,000, while five-room resale units went for $304,000 to $345,000.

    The overall median cash-over-valuation for a resale flat in Woodlands was $15,000 in the fourth quarter of last year.

    A sale in a more central part of Singapore is unlikely to attract the same level of demand as the flats would be priced at a higher quantum, said Mr Ismail.

    'Whoever applies now will be stuck with it for eight years, including the construction and minimum occupation periods,' he said.

    'Therefore, a three-room flat may not be ideal for a family with kids, in today's affluent society.'

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