Strong demand for bigger BTO flats in Serangoon project

More than 13 first-timer applicants for each 5-room unit, and over nine per 4-room unit

- Michelle Ng

Flat buyers made a beeline for bigger flats in Serangoon in the ongoing Build-To-Order (BTO) sales exercise, signalling pent-up demand in the mature estate that had not seen new flats launched for about nine years.

As at 5pm on Thursday, 2,390 applicants had applied for the 129 five-room flats in the Serangoon North Vista BTO project. This translates to more than 13 first-timer applicants for each available unit.

First-timer applicants hoping to secure a four-room flat in the same BTO project face equally daunting prospects, with more than nine such applicants vying for each available unit.

The last BTO launch in Serangoon was in January 2014, where 150 studio apartments for the elderly were offered.

Huttons Asia senior director of research Lee Sze Teck said the "rare" BTO project in Serangoon is attractive to first-timer families who hope to live in an area near their family.

The availability of five-room flats, which are more commonly offered in non-mature estates and selected mature estates located farther from the city centre, was another factor that appealed to young families, he said.

Five-room and three-generation BTO flats in Bedok were also oversubscribed, with more than three first-timer applicants for each available unit. The mature estate has not seen new flats launched for about seven years.

The four-room flats in the Bedok South Blossoms BTO project drew around three first-timer applicants for each available unit, while the three-room flats drew around two such applicants.