Demand for flats in Singapore outstrips supply

 

The number of applications for Build-To-Order and balance flats outstripped the supply. 7,978 flats were put on offer last week and by Tuesday the number of applications for these flats stood at 26,350.

Balance flats which are located in well known estates proved to be the most popular, with an overall subscription rate of 3.8.

Larger four to five room Build-To-Order flats witnessed an overall application rate of 2.9.

The first-time buyer application rate for BTO units in well known estates was 2.1. This number decreased to 1.8 for flats in lesser known estates according to AsiaOne Business.

First-time and second-time buyers stood a good chance of securing a flat.

The application rate for second-time buyers dropped to 6.7 in this round as compared to the 20.7 in the January BTO exercise.

More applicants made use of the enhanced Married Child Priority Scheme – which gives more chances to those who opt to stay near their parents -compared to previous rounds.



Filed Under: NewsNews by CountrySingapore

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