October 12, 2023 3:36 AMIn the housing landscape of Singapore, the October Build-To-Order exercise, which unfolded from the fourth to the 10th, made headlines for an unexpected reason: It witnessed the lowest application rates in years, a phenomenon not seen since 2017.What happened during the October BTO exercise?
To put this into perspective, the February 2023 exercise, featuring 4,428 flats, attracted over 16,000 applicants, while the May 2023 exercise, with 5,495 flats, garnered interest from more than 20,000 potential homeowners.Among first-timer families, the most sought-after options were the five-room and three-generation flats.
Tengah emerged as the hotspot, particularly for five-room flats, with an application rate of 27.0 times among second-timer families. These regulations imposed consequences on those who declined to book a flat when invited. If such potential buyers refused twice, they would face a one-year ban from participating in HDB sales exercises.
Source: Real Estate Daily Report (realestatedailyreport.net)
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