RESIDENTIAL PROPERTY | Staff Reporter, Singapore

HDB flats in Punggol District could lure more buyers: analyst

Buyers might be attracted to its location and connectivity.

The Punggol flats could be more popular despite its slightly higher prices than those launched in Yishun amongst the flats launched by the Housing and Development Board for August sales due to its good location, ERA Realty key executive officer Eugene Lim and PropNex Realty CEO Ismail Gafoor said.

“They are located near the upcoming Punggol Coast MRT station and the Punggol Digital District,” he explained. “Some of the flats will also sea views.”

With these features, the Punggol flats could mostly lure young families, Lim noted.

Also read: New housing loan scheme could lure buyers to get larger loans: analysts

Meanwhile, Lim said that the Yishun flats are located slightly further from the MRT station. Despite this, he believes that these flats with prices ranging from $248,000 before grants for a 4-room flat will “be a draw for applicants.”

“For the overall August BTO Sales Exercise, we predict application rate of 2 to 2.3 for the due to the healthy number of units available across different unit mix,” Gafoor commented.

The Housing Development Board (HDB) launched 5,101 flats for sale under the Build-To-Order (BTO) and Re-Offer of Balance Flats (ROF) exercise in August. Across various towns and estates, 4,375 BTO units and 726 ROF units will be for sale.

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