November 2021 BTO exercise launches 4,501 flats for sale
Demand for the flats is expected to stay strong, according to OrangeTee.
4,501 flats from the Housing Development Board (HDB) go on sale under the November 2021 Build-to-Order (BTO) exercise.
This is the last project launch for the year across nine projects in six towns.
Buyers for these units will be restricted to the features of the Prime Location Public Housing (PLH) model, such as an extended minimum occupation of 10 years and clawback of additional subsidies by 6% of the release price.
OrangeTee expects strong demand for flats after the BTO exercises for the month of November.
Christine Sun, Senior Vice President of Research & Analytics, said that buyers will be drawn to the Rocher and Kallang/Whampoa locations due to their proximity to the CBD area.
The Rochor site is also expected to attract buyers, even with a longer completion period and smaller units.
Launches in these areas are expected to be more than five times oversubscribed for first-timers of 4-room flats. Rochor, in particular, can be impacted due to the long completion period and longer MOP.
Meanwhile, the least popular would be flats in Tengah, Sun said. Despite a gradual rise in subscription rates from 2.1 times in November 2020 to 3.2 times in May 2021, around 10,000 units have been launched from May 2019 to May 2021.
Around 2,000 units were launched in May 2019, with the application rate for the Tengah site to be around 2 to 3.5 times.
Overall, Sun is expecting 30,000 applications, with around 4,500 units on offer for the launcher. This follows the approximate 40,000 applications for about 5,000 units in August 2021.