http://www.businesstimes.com.sg/real...idadari-estate
Overwhelming demand for larger flats in Bidadari estate
A total of 4,170 new flats were launched by HDB across three projects in Bukit Batok, Sengkang, and Bidadari
By Lynette Khoo
[email protected]
@LynetteKhooBT
Feb 25, 2016
THE first batch of new flats launched this year by the Housing & Development Board (HDB) has again seen an over-subscription for the larger flats in the popular Bidadari area.
This followed an overwhelming response for the first build-to-order (BTO) flats in Bidadari released in November.
A total of 4,170 new flats were launched under HDB's February BTO exercise across three projects in Bukit Batok, Sengkang, and Bidadari - the first tranche of 18,000 BTO flats to be launched this year.
Despite flats in Bidadari commanding higher prices than the other two less mature estates, realtors noted that buyers were unlikely to be deterred; this prognosis was proven right on the first day of the launch.
The application period closes on March 1 but by 5pm on Wednesday, there were already 408 applicants chasing 236 five-room and 3-generation flats in Bidadari Alkaff Oasis, translating to an application rate of 1.7. Demand from second-timers (non-elderly) for these larger flats was particularly strong, with an application rate of 13.8.
"Buyers just want to get a piece of the action," said ERA Realty key executive officer Eugene Lim said. "Many have seen the success story of Bishan when it transformed from a cemetery to one of the most highly sought after and highly priced HDB estates today."
With only 5 per cent of flats in Bidadari allocated to second-timers, the overwhelming response from second timers for these flats was expected, Mr Lim added.
Alkaff Oasis is located between Bidadari Park Drive and Alkaff Crescent and within walking distance to Woodleigh and Potong Pasir MRT stations. It has a total of 1,594 units spanning two-room Flexi, three-room, four-room, five-room, and 3-Gen flats.
By 5.00pm on Wednesday, there were 1,605 applications for 2,830 three-room and bigger flats while there were 510 applications for the 1,340 two-room Flexi flats.
The application rates for flats in Sengkang Anchorvale Plains was 0.6 to 0.8 while the application rates for flats in Bukit Batok West Plains were 0.2 to 0.3.
PropNex chief executive officer Ismail Gafoor said he expects the overall application rate for the Bidadari project to be about four times, with the larger four and five-room flats seeing an application rate of about five times.
As for the Sengkang and Bukit Batok projects, realtors are expecting application rates of 1 to 3 times.
West Plains @ Bukit Batok has 1,655 units of two-room Flexi, three-room, four-room, and five-room flats housed in nine residential blocks. Bounded by Sengkang East Way and Anchorvale Lane, Anchorvale Plains comprises five blocks offering 921 units of 2-room Flexi, three-room, four-room, and five-room flats.
HDB said: "Applicants are advised to apply for a BTO flat in non-mature towns to enjoy a higher chance of success in securing a flat."
It added that new flats are priced considerably lower than transacted prices of comparable resale flats in the vicinity. Eligible first-timer families can also enjoy up to S$80,000 of housing grants.
The monthly household income ceiling for buying new HDB flats was recently raised to S$12,000 for Singaporean families and S$6,000 for singles.
In May, HDB will offer about 4,070 BTO flats in Ang Mo Kio, Bedok, Bukit Merah, Bukit Panjang and Sembawang. About 5,000 balance flats will be offered in a concurrent Sale of Balance Flats (SBF) exercise.
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