Clementi Build-to-Order flats in strong demand

SINGAPORE – Home buyers homed in on five-room Housing Board flats in Clementi during the latest Build-to-Order (BTO) sales exercise.

As of 2pm on Wednesday, these flats in the Clementi Crest project had the highest application rate of 1.7, with 270 applicants vying for 156 units.

Four-room flats in the popular mature estate were close behind with an application rate of 1.1, or 256 applicants going for 229 units.

Punggol flats were off to a slow start, with a 0.4 and 0.5 application rate for four- and five-room units respectively. This is despite the smart technology infrastructure that these homes would be equipped with.

The exercise, which ends on June 2, is offering more than 4,000 BTO flats in Clementi, Tampines, Punggol and Sembawang.

During a concurrent Sale of Balance Flats (SBF) exercise, which is offering over 5,000 new flats across the island, some traditionally popular mature estates had surprisingly few applicants.

Queenstown three-room units, for example, had only seven applicants vying for 127 units as of 2pm. Toa Payoh three-room flats only had 12 applications for 105 units.

One deterrent to more applications could be the higher prices for SBF flats, which are closer to completion than BTO units. For example, four-room SBF units in Tampines start at $307,000 with grants, compared to a same-size Tampines BTO flat going from $266,000 with grants.