OrangeTee has released its analysis of the February 2025 Build-To-Order (BTO) and Sale of Balance Flats (SBF) application results, revealing a notable decline in overall application rates compared to the previous sales launch in October 2024.
As of 17 February 2025, 12,431 applicants vied for 5,032 BTO units, resulting in an application rate of 2.5, down from 4.2 in October 2024.
This decrease is attributed to the simultaneous release of numerous SBF flats and the anticipation of upcoming BTO projects in June.
The Prime and Plus Flats in Tanjong Rhu and Queenstown emerged as the most sought-after projects. In Tanjong Rhu’s Kallang/Whampoa project, Tanjong Rhu Parc Front, application rates for 3-room and 4-room flats were 2.6 and 5.4, respectively.
These figures surpass those of the previous Tanjong Rhu Riverfront I and II project, despite the latter offering more units. The current project’s lower prices and strategic location near MRT stations and the city centre contributed to its popularity.
Conversely, Queenstown’s Stirling Horizon project experienced lower-than-expected application rates, with a 2.5 rate for 4-room flats, compared to Holland Vista’s 9.8. The larger number of available units and longer waiting time of over four years likely influenced this outcome.
In the SBF exercise, 22,013 applicants competed for 5,590 units, yielding a 3.9 application rate, higher than the BTO rate. The SBF’s diverse range of flats across the island offered applicants more choices, particularly in popular estates like Bedok, Bishan, and Clementi. However, the median application rate for 3-room or larger flats for first-time families fell to 2.5, down from 10.5 in February 2024, due to the increased number of flats launched over the past year.
Notably, non-mature estates such as Tampines and Hougang saw high demand for 2-room flexi flats, indicating a preference amongst seniors and singles for these areas due to availability and lower prices.
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