BTO vs SBF: Why are SBF flats more popular for applicants in November launches?
Homebuyers considered faster completion time of flats.
Despite the largest build-to-order (BTO) flats opened for buyers in November, more applicants preferred sale of balance (SBF) flats.
According to HDB, applicants for BTO flats went down from 39,136 in August to 24,562 in November. But the number of SBF applicants was 25,350.
A factor that helped SBF popular amongst homebuyers was possibly due to shorter completion times, OrangeTee said.
OrangeTee also noted that there are more locations to choose from for SBF units.
More chances for BTO applicants
OrangeTee research team said the application rate for SBF units is 23.7, which is a much higher rate than 2.5 for BTO.
“This is the lowest overall BTO application rate since September 2019 with an application ratio of 2.1,” said Orange Tee.
This lower application rate may be good news for BTO flats applicants, OrangeTee added.
Buying trends showed that more Singaporeans are applying for new flats over the past year due to its affordability.
Data showed that the number of flats also grew rapidly at 22.5% from 21,401 units in 2021 to 26,207 units in 2022, compared to the 16.3% increase in total applicants over the same period.
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