Buyers go for non-mature estates in HDB BTO launch

In the most recent HDB Build-to-order (BTO) flats launch, the response from the public has been overwhelming.

BTO launch oversubscribed by more than 7 times.

In the launch, 2400 applicants vied for 322 units in Choa Chu Kang. In most launches, units in mature estates tend to garner the most number of eyeballs. But this time around, the flats in Choa Chu Kang were most popular.

Teck Whye View. Picture: HDB

3-room and 4-room HDB flats in Teck Whye View. The affordability of the flats, at $190,000 (after utilising available grants) for a 4-room unit, were what drew the crowd. The lack of BTO launches in the West may have also contributed to the high subscription rate. There were only 2 launches in the area last year – Clementi in February and Bukit Batok in August.

With a lower price tag, buyers could also be thinking ahead in terms of the selling potential of units here. Their proximity to the Bukit Panjang MRT station is a big plus.

Prices of BTO flats in Geylang almost double

Also included in this launch were flats in Geylang, Tampines and Woodlands. The prices for units in Ubi Grove, Geylang, were however almost twice that of one in Choa Chu Kang. There were also more flats launched for sale in Geylang.

RelatedGeylang – More than just a red-light district 

The number of applicants for units in Geylang were almost the same as that for Choa Chu Kang. Buyers here cite the proximity to Tanjong Pagar as reasons for their keen showing. Some have also considered the future development potential of the area, and also its accessibility to the up-and-coming business hub at Paya Lebar Quarter (PLQ). HDB’s next BTO launch will be in May this year with an expected release of 3,900 flats in Sengkang, Tampines, Toa Payoh and Yishun.