4-room BTO Flats in Queenstown, Kallang/Whampoa Most Popular

But demand muted overall, which analysts attribute to concurrent sale of balance flats

- Isabelle Liew

Four-room flats in city-fringe estates Kallang/Whampoa and Queenstown were the most popular among first-timer families in the latest Build-To-Order (BTO) sales exercise.

But demand was muted overall, with property analysts pointing out that the concurrent Sale of Balance Flats (SBF) exercise diverted demand away from BTO flats. There were over 22,000 applicants for the 5,590 SBF units which are in varying stages of completion.

For three-room and larger BTO flats, there was a median of one first-timer family applying for each of these units, according to the Housing Board's figures as at 5pm on Feb 17.

National Development Minister Desmond Lee said the first-timer family application rate in the latest exercise was lower than in sales launches in 2024, and those before the Covid-19 pandemic, and reflects "a more balanced demand-supply situation in the BTO market".

Application numbers show the most popular units were the four-room flats at Tanjong Rhu Parc Front, which had more than three first-time applicants vying for each of the 464 units.

Tanjong Rhu Parc Front is a Prime project near Geylang River, and the flats there come with a subsidy clawback of 9 per cent upon resale.

The latest launch is the second under the new flat classification system, which sorts BTO projects into Standard, Plus and Prime categories based on their proximity to the city centre, transport connectivity and amenities.

Plus and Prime flats, which are in more attractive locations, come with a subsidy clawback clause and a 10-year minimum occupation period (MOP).