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SG 2-room flats nearly seven times oversubscribed

Property Here - Wednesday, July 31, 2013

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The 519 two-room flats released for sale in the housing board's latest Build-to-Order (BTO) exercise have received a total of 3,483 applications as of 5pm today, which translates to an oversubscription rate of nearly seven times, according to figures published on HDB's website.

Despite their smaller sizes of approximately 45 sq m and location in the non-mature estates of Sengkang and Yishun, the flats proved popular, especially with singles. Local media reports earlier today revealed there were about 16 applications from singles for every two-room flat on offer.  

Notably, the majority of subscriptions were for the 231 two-room flats in Sengkang. Up to 30 percent of the available two-roomers have been reserved for singles.  

Singles wanting to buy a unit should be at least 35 years old and have a monthly income not exceeding S$5,000. The selling price of two-room flats in the latest exercise starts from S$76,000, excluding grants. 

Yesterday's launch marks a milestone as this is the first time that singles can buy BTO units. They are also eligible for additional grants for resale HDB flats. 

The closing date for applications is 5 August.



Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@allproperty.com.sg