Why first-time homebuyers in Singapore are opting for bigger flats in the October HDB BTO exercise

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In recent years, Singapore's housing landscape has witnessed a notable shift. The October Build-To-Order (BTO) exercise highlighted a growing trend: First-time homebuyers are increasingly leaning towards larger flats. But what's driving this preference? Let's delve into the reasons behind this trend.

The October BTO exercise revealed a pronounced demand for larger flats, especially in non-mature estates like Choa Chu Kang and Tengah. As of the close of the exercise, approximately 1.6 first-time applicants were vying for each of the available five-room and three-generation flats in these regions.

Space matters: The allure of the five-room or Executive flat, the largest HDB flat available, is undeniable. For growing families, the additional space is not just a luxury but a necessity.

Source: Real Estate Daily Report (realestatedailyreport.net)

 

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