Build-to-Order (BTO) exercise in February 2022 has overwhelming of oversubscribing for 3,953 new units with 24,748 applicants vying for them translating to an application rate of 6.3 times which is far higher than the 4.4 times achieved in November’s exercise where 4,501 new flats were launched.
The “star performer” in this February 2022 sales launch of BTO was Dakora Crest in Geylang which garnered 7,712 applications for only limited 443 available flats translating to 17.4 application rate.
The applications for the 4-room flats in Dakota Crest which has in total applications of 6,294 for a mere total of 242 flats and this make up a quarter of the overall number of applicants in February’s BTO exercise.
There is a possibility of those who had missed out in selecting a flat during Dakota’s August 2020 BTOB exercise may have submitted reapplication again, thereby contributing intense competition in February.
Dakota Crest location is excellent being minutes’ drive to the Central Business District and its close proximity to MRT stations witj plentiful amenities in the area.
Trailing just behind Dakota Crest is King George’s Heights at Kallang Whampoa which is a prime location housing (PLH) project and has garnered 5,305 applications for its 398 available units. This translates to a subscription rate of 13.3 times.
In terms of 4-room flat applications, the PLH project posted an application rate of 16.0 with 4,704 individuals vying for 294 units.
Will the repeated failures of these applicants help to swing them to other new launch condo projects such as Sceneca Residence in Tanah Merah locale and The Arden along Pheonix Road?
The prime location housing projects launched in November 2021— River Peaks I and II in Rochor — King George’s Heights recorded a much higher overall subscription rate with much higher interest in four-room flats. This stronger response towards King George’s Heights most possibly due to a smaller supply of flats and lower prices compared to Rochor prime housing location flats.
There is a possibility that some applicants who have previously held back from applying for the Rochor pilot prime housing project may be due to uncertainty over the government policies regarding the resale levy. Subsequently once the government has made the clear policy on the resale levy and with such over earlier doubts and uncertainty been cleared, these applicants may have gone ahead to apply for King George’s Heights in this February’s BTO exercise. In addition, the attractive subsidized pricing and fewer units available in King George’s Heights could mostly also have helped to increase demand and thus pushed up the respective application rate.”
Applicants who fail to secure flats during the February 2022 sales launch can look forward to the May 2022 BTO exercise. This May 2022 BTO will include projects like Bukit Merah, Queenstown (Ghim Moh), and Toa Payoh.
Will the repeated failures of these applicants help to swing them to other new condo projects such as Sceneca Residence in Tanah Merah locale and The Arden along Pheonix Road?
CDL to develop Piccadilly Grand, Piccadilly Grand location in cityfringe in District 08
