The four-room BTO apartments in Bukit Merah received overwhelming request from property buyers even though as the apartments are among the most expensive in previous month’s purchases routine.
Found among the mature zone of Bukit Merah, Telok Blangah Beacon gathered Forty Three candidates for each and every four-room apartment, the largest requisition price for this type of apartments over the last few years.
Lee ST, Director of Research at Huttons Asia, recorded that “around Thirty first-timer prospects and also 400 second time individuals are trying to get the low supply of flats”.
The 175-unit project is located near Telok Blangah MRT station, having the three-room units valued from $Four hundred Nineteen thousand (excluding concessions), while price tags for the 4 bedroom flats started off at $602K (counting out concessions). It is the first BTO project inside the area from 2013, when Telok Blangah Parcview was created.
Lee connected the soaring demand to the project’s central area in a mature area. Telok Blangah Beacon is in addition closest to the future Greater Southern Waterfront.
“Yet paying out $710K plus a wait of beyond 5 years is no hindrance to homebuyers that choose the location including the potential advantage of the makeover in yrs to go,” Lee pointed out.
Previous calendar month’s May 2K21 BTO deals exercise observed HDB launch 3,879 BTO apartments through four property properties in 4 community: Bukit Merah, Geylang, Tengah, including Woodlands.
HDB also launched 2,494 units within its SBF routine. Lee noticed that May’s Sale of Balance Flats movement watched a slightly larger application figure analyzed to the earlier routine in Nov previous yr.
“This is possibly as a result of the delays in completion of Build-To-Order units plus the cash-over-valuation that home buyers of second-hand units will need to deal ever since the lock down,” said Lee.