• If Laksaboy Forums appears down for you, you can google for "Laksaboy" as it will always be updated with the current URL.

    Due to MDA website filtering, please update your bookmark to https://laksaboyforum.me

    1. For any advertising enqueries or technical difficulties (e.g. registration or account issues), please send us a Private Message or contact us via our Contact Form and we will reply to you promptly.

Prime flats in Kallang Whampoa the most popular in February BTO exercise

LaksaNews

Myth
Member
SINGAPORE: The Prime flats in Kallang Whampoa are the most popular in February's Build-to-Order (BTO) sales exercise, with four-room flats drawing more than five applicants per unit as of Monday (Feb 17).

As of 5pm on Monday, the latest available figures, there were 12,431 applications in the latest BTO exercise, which offers 5,032 new flats. The BTO exercise will end at 11.59pm on Monday.

The Tanjong Rhu Parc Front project in Kallang/Whampoa is the sole Prime project in this BTO exercise.

It drew 4,232 applications for 812 two-room flexi, three-room and four-room flats. There were 2,488 applications for 464 four-room units.

The sole Plus project in the latest BTO exercise, Stirling Horizon in Queenstown, was also popular with buyers. There 2,571 applications for 1,126 units, with four-room flats also being the most popular.

Prime and Plus flats are those with more favourable locational attributes. They are priced with more subsidies than Standard flats to ensure affordability but also come with tighter restrictions on resale and rental to reduce the “lottery effect”.

These include a 10-year minimum occupation period (MOP) and a subsidy clawback upon resale.

Related:​


"MORE BALANCED" DEMAND-SUPPLY SITUATION​


National Development Minister Desmond Lee said that the overall application rate for first-timer families was down across all flat types, reflecting "a more balanced demand-supply situation in the BTO market".

Mr Lee was reflecting on the data reported at noon. Data on applications received is updated at 8am, noon and 5pm daily during the application period. The final results will be updated at 2pm on Tuesday.

The median application rate for three-room and bigger BTO flats for first-timer families was 1.0.

"This is lower than the median application rates when compared to all of the 2024 sales launches, and also pre-pandemic levels," Mr Lee said.

There continued to be "strong interest" from first-timer singles for two-room flexi flats, he noted.

The median application rate for three-room and bigger Sale of Balance flats from first-timer families stood at 2.5, the lowest in the past three years.

A total of 5,590 such units are up for sale in February, the largest SBF exercise to date.

Mr Lee noted that supply in the resale market remains "relatively tight" this year, with fewer flats reaching their MOP.

This is due to fewer flat completions in 2019 and 2020, partially because of COVID-19 related construction delays.

"We expect a steady increase in the number of new flats completing their MOP in the next few years."

The number of flats meeting their MOP will increase from 8,000 in 2025 to 19,500 in 2028, said Mr Lee.

01_perspective_1_0.jpg

An artist's impression of Stirling Horizon, a project in Queenstown in February 2025 BTO exercise. (Image: HDB)

WHY TANJONG RHU?​


Ms Christine Sun, chief researcher and strategist at OrangeTee, said that the strong demand for Prime flats in Tanjong Rhu is due to the project being situated between MRT stations - Tanjong Rhu and Katong Park - and near the city centre.

Many units will also likely offer river views, she added.

"Applicants whose parents live in the East may be particularly interested in staying here," she added.

PropNex CEO Ismail Gafoor said the "strong demand" for a Tanjong Rhu flat was expected.

"With the recent announcement of the Kallang Alive Master Plan, it is no surprise that this project has drawn applicants’ attention," he added.

Parc Front is the latest BTO project to be launched in Tanjong Rhu. Tanjong Rhu Riverfront I and II were offered in June 2024, with an overall application rate of 2.4.

But the overall application rates in Queenstown's Stirling Horizon were "slightly lower than expected".

The project was less popular than the previous BTO project in Queenstown, Holland Vista, which saw an application rate of 9.8 for four-room flats.

In contrast, the application rate for four-room flats in Stirling Horizon was about 2.5.

"Holland Vista benefits from its proximity to the MRT and other amenities, making it more attractive to potential applicants," she said.

"Moreover, Stirling Horizon probably did not do well as it has the longest waiting time of more than four years in this BTO exercise."

Continue reading...
 
Back
Top