First-Time Queenstown BTO Applicants Stand Good Chance Of Being Selected Due To Muted Demand
Buying your own house is a huge milestone and many couples in Singapore hope to own their own flat, be it a build-to-order (BTO) flat or one in the resale market.
For the Housing Development Board (HDB)’s November sales launch, three of the BTO projects are located in the Queenstown area.
As of 5.30pm on Thursday (1 Dec), the application rate for first-timers at Queenstown was 0.3 for 3-room flats. For 4-room flats, the application rate stood at 1.3.
This muted demand suggests that first-time applicants have a good chance of being selected for a flat.
First-timers application rates for Queenstown BTO low
Applications for the BTO November launch have been open since 23 Nov and will end tonight (1 Dec) at 11.59pm.
According to HDB’s website, thus far, the first-timer application rate in Queenstown for 3-room flats stands only at 0.3 while the rate for 4-room flats is 1.3.
HDB’s historical data indicates that first-time applicants for BTO projects with an application rate of 1.7 or lower have a good chance to book a flat.
This is after accounting for a 40% dropout rate, reported The Straits Times (ST).
Based on the current muted demand, first-timers who are applying for Queenstown BTO projects in the November launch stand a good chance of being invited to select a flat.
There are three BTO projects located in Queenstown for this launch — Ghin Moh Natura, Ulu Pandan Banks, and Queenstown Canopy.
Of this, only Queenstown Canopy does not fall under the prime location public housing (PLH) model.
Flats that fall under PLH come with stricter buying and selling conditions.
Queenstown Canopy does not fall under the PLH model as it will sit next to Alexandra Hospital, farther from main transport nodes and major retail amenities.
Kallang Horizon most popular project
At this current stage, applicants can only choose their preferred flat size. Their application will cover all projects in the area in the November launch.
For Queenstown applicants, they can only choose which of the three projects they prefer at the flat selection stage.
So far in the November launch, the Kallang Whampoa mature estate flats have proven the most popular.
HDB’s site indicates that there are about three first-time applicants vying for each 3-room flat at the Kallang Horizon BTO project. For each 4-room flat offered, there are more than six first-time applicants.
The Kallang Horizon project also falls under the PLH model.
For the other BTO projects in the non-mature estates of Bukit Batok, Tengah, and Yishun, demand was rather evenly spread out.
Next BTO launch is in Feb 2023
As things stand, it appears that most first-time applicants in the November launch, except those who applied for the Kallang Horizon BTO project, are highly likely to be issued a ballot number.
Although this is subject to change before the application period closes at 11.59pm on 1 Dec.
The next Feb 2023 launch will include 4,440 BTO flats in estates such as Jurong West, Tengah, Kallang/Whampoa, and Queenstown.
The May 2023 launch will then offer between 3,800 to 4,800 BTO flats.
These will be located in towns such as Tengah, Bedok, Kallang/Whampoa, Serangoon, and Queenstown.
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Featured image adapted from HDB.