The latest figures from Huttons Asia reveal a significant shift in the Housing Development Board’s (HDB) Build-To-Order (BTO) application rates as of 17 February 2025. This year, 34,444 applicants vied for 10,622 BTO and Sale of Balance Flats (SBF), averaging 3.2 applicants per flat. This marks a decrease from the previous year’s 4.0 applicants per flat, where 22,581 applicants competed for 5,714 flats.
The SBF exercise attracted more interest, particularly for flats that are already completed or nearing completion. This trend is expected to alleviate demand pressure and stabilise resale market prices. Notably, more singles opted for the 2-room flexi flats under the SBF exercise, with a median application rate of 4.8 for BTO flats among first-time singles. In contrast, the application rate for 2-room flexi SBF flats ranged from 53.2 to 393.
The supply of over 700 SBF flats in Woodlands and Yishun impacted the BTO application rates for projects like Chencharu Green and Woodlands North Verge. First-time applicants for 4-room flats in Urban Rise @ Woodlands and Chencharu Hills saw an application rate of 2.1, dropping to around 1 for other projects in the area. Most applicants should be able to secure a flat, subject to the Ethnic Integration Policy quota.
Prime and Plus projects remained unaffected by the SBF, likely due to the absence of comparable SBF projects. Tanjong Rhu Parc Front experienced 3.5 applicants per 4-room flat, attributed to fewer available units compared to previous offerings. Stirling Horizon also saw higher demand with 1.7 applicants per 4-room flat, surpassing Queensway Canopy, although a direct comparison was not possible due to aggregated data.
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